With a net worth of $1.4 billion, singer Rihanna is currently the youngest self-made billionaire woman in the United States. She worked all by herself to make her riches.
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The singer is now ranked as the 21st richest self-made woman in the United States in Forbes’ annual list for 2022. Only Rihanna, who is under 40 years old, is a female billionaire on this list. Nine Grammy awards have been given to her as a musician.
Forbes released its annual list to the public last month. The musician, who was born in Barbados, overthrew Kim Kardashian to surpass her as the country’s youngest self-made millionaire.
The title was awarded to the 41-year-old Kardashian after her wealth increased from $780 million to $1 billion between October 2020 and April 2021. She had received the title the year before at the time.
Why is Rihanna on the list?
As of July 1, 2022, when she will be 34 years old, Rihanna will be the youngest self-made female billionaire in the country. In addition to being successful in his career as a musician, the Umbrella singer has also found success as an entrepreneur.
Over the past three years, her firm, Fenty Beauty, has had a meteoric increase in prominence. Rude Boy, a musician, has large investments in three distinct retail businesses.
These businesses are Savage X Fenty, Fenty Beauty, and Fenty Skin. According to Forbes, which was referenced in the article on the singer’s earnings, Rihanna’s cosmetics brand earned more than $550 million in 2020.
Her lingerie line, Savage X Fenty, was predicted to be worth $1 billion in February 2021. She is currently the richest female musician in the world, the youngest woman to become a self-made billionaire in the United States, the first billionaire in Barbados, and the richest woman in music overall.
After Rihanna, Kylie Jenner, who has a net worth of $600 million, is the next self-made lady on the list, followed by Taylor Swift, who is worth $570 million, Beyonce, who is worth $450 million, and Kim Kardashian, who is worth $1.8 billion.
Did Rihanna’s Fenty Beauty line’s success contribute to her achieving billionaire status?
Despite the fact that there is no denying that Fenty Beauty has become the go-to brand for upscale cosmetics over the past several years, she co-owns the company with French luxury goods juggernaut LVMH. The regular production of new products with each passing season led Forbes to estimate the value of Fenty Beauty to be close to $2.8 billion.
She also owns a 30% stake in Savage X Fenty, another successful commercial venture for the celebrity. Although some businesses were profitable, others weren’t.
In February, Rihanna and LVMH were compelled to shut down their upscale clothing and accessory business. The business also went by the name Fenty and used that name. Despite being introduced in 2019, the brand suffered a great deal of damage as a result of the outbreak.
According to Bloomberg, the singer was collaborating with experts earlier this year to take her company Savage X Fenty public with an IPO that may have had a value of $3 billion. This would have been carried out to help the business raise finance.
Pop singer Rihanna was dependable in her singing career up until 2016, when she started putting out new albums almost annually. Her most recent album, Anti, was out in 2016. On the other hand, she has frequently stated that she intends to utilize her fortune for good. She once stated that
My drive to work hard and save money comes from the idea that I might be able to help someone else. People sometimes lose sight of what is truly important in life and what it means to be alive because the outside world has a way of persuading them that the wrong things should come first.
The singer, who has more than 133 million Instagram followers, just gave birth to her first child with her boyfriend, A$AP Rocky.
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