Move over Kylie Jenner, there’s another self-made billionaire in town and her name is RIHANNA!

 

 

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According to Forbes, Rihanna is now a billionaire with an estimated worth of $1.7 billion.  Rihanna is also the richest female musician in the world, and second richest female entertainer behind Oprah Winfrey.

 

 

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And Fenty Beauty is to thank for this massive accomplishment.  Forbes explains:

 

“When 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. The bulk of her fortune (an estimated $1.4 billion) comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50%. Much of the rest lies in her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress. While Barbados-born Rihanna isn’t the only celebrity to capitalize on her social media presence —she has 101 million followers on Instagram and 102.5 million on Twitter—to build a beauty brand, she is the most successful beauty entrepreneur to do so.”

 

 

 

 

According to Shannon Coyne, cofounder of consumer products consultancy Bluestock Advisors, she says, “A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark.  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.’”

 


 

And in February, Rihanna’s lingerie line Savage x Fenty raised $115 million in funding at a $1 billion valuation.

 

 

When a paparazzo approached Rihanna and asked what it meant to be a self-made billionaire, she used three words – “God is good.”

 

 

 

Read the full article on Rihanna here.

Filed under: Forbes, Rihanna