Rihanna is now worth $1.7 billion, making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.
US pop star turned entrepreneur Robyn Fenty, also known as Rihanna launched Fenty Beauty in 2017, she sought to create a cosmetics company that made women everywhere (feel) included. A perhaps unintended consequence: The beauty line has helped her enter one of the world’s most exclusive ranks: Billionaire.
Forbes, which consistently aggregates arrangements of the world’s most extravagant individuals, on Wednesday said it assessed around $1.4 billion of her total assets comes from the worth of cosmetics organisation Fenty Beauty, an association with French design goliath LVMH of which she currently possesses 50%.
Rihanna is presently worth $1.7 billion, making her the most affluent female performer on the planet and second just to Oprah Winfrey as the most extravagant female performer. After Fenty Beauty, a large part of the remainder of the wealth lies in her stake in her lingerie organisation, Savage x Fenty, worth an expected $270 million, and her income from her career as a performer and entertainer. Her last created collection was in 2016, named ‘Anti’.
“A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark,” says Shannon Coyne, cofounder of consumer products consultancy Bluestock Advisors to Forbes. “We all know that’s not reality. She was one of the first brands that came out and said, “I want to speak to all of those different people.”
Fenty Beauty isn’t Rihanna’s just billion-dollar brand. In February her lingerie line Savage x Fenty brought $115 million up in subsidising at a $1 billion valuation. The organisation, which dispatched in 2018 as a joint endeavor with TechStyle Fashion Group, counts blue-chip financial backers like Jay-Z’s Marcy Venture Partners and private value firm L. Catterton (in which Bernard Arnault is a financial backer) as investors. Rihanna keeps a 30% possession stake, Forbes gauges. The most recent round of financing will purportedly be utilized for client securing and retail development.