Our girl Rihanna has officially reached billionaire status, meaning she’s the world’s richest female musician and, I mean, what did ya expect from the gal who released songs called ‘Work’, ‘Bitch Better Have My Money’ and ‘Diamonds’?
But interestingly, Forbes magazine has said that her vast fortune is thanks to her cosmetics empire, Fenty Beauty, rather than her music career (so THAT’S why she’s taking her sweet time with the album!).
RiRi launched Fenty Beauty back in 2017, with the goal of creating a brand that made “women everywhere [feel] included”.
In its first year, Fenty Beauty raked in sales of (USD)$550m, which is absolutely killer, especially compared to other celebrity-endorsed brands.
Forbes estimates that the company is now worth “a conservative $2.8bn”.
Her stake in Fenty Beauty, along with a 30% stake in the lingerie line Savage X Fenty and $$$ from her 16-year singing career, takes Rihanna’s fortune to $1.7bn, according to Forbes, which is how she’s nabbed the #1 spot.
Rihanna owns 50% of Fenty Beauty, and the other half is owned by French luxury conglomerate LVMH.
Bernard Arnault, LVMH’s chairman and chief executive, and the world’s third-richest person with an estimated $179bn fortune, has said of Rihanna’s success:
“Everyone knows Rihanna as a wonderful singer, but through our partnership at Fenty Beauty, I discovered a true entrepreneur, a real CEO and a terrific leader.”
Rihanna is the second wealthiest female entertainer, however, as Oprah Winfrey has her beat, with a fortune estimated at $2.7bn.
Just throwin’ it out there, if I were a celeb, I’d 1000 per cent be looking into cosmetics ASAP because apparently that’s where all the money is.
Kylie Jenner has also earned herself a fortune through her brand, Kylie Cosmetics, as has Kim Kardashian with KKW Beauty (which is undergoing an awks rebrand after her divorce from Kanye West).
Outside of the Kar-Jenner fam, there’s also Jessica Alba who runs the hugely successful beauty and wellness brand, Honest Co.
Meanwhile here’s me, eating 2-minute noodles for dins for the third night a row. Life, huh?
