Thu 05 August 2021:
According to Forbes, Rihanna is now a billionaire and the world’s wealthiest female musician.
The Barbados-born singer, whose birth name is Robyn Fenty, derives an estimated $1.4 billion of her fortune from her 50% stake in the Fenty Beauty cosmetics line, Forbes reported.
Rihanna, 33, launched the beauty brand, of which she owns 50%, with the French luxury conglomerate LVMH in 2017. In its first year, Fenty Beauty achieved sales of $550m, far more than other celebrity-endorsed makeup ranges. Forbes magazine estimates that the company is now worth “a conservative $2.8bn”.
Her stake in in the company, combined with a 30% stake in the lingerie line Savage X Fenty and money generated during her 16-year career as a recording artist, take Rihanna’s fortune to $1.7bn, according to Forbes. That makes her the second wealthiest female entertainer on the planet after Oprah Winfrey, who is sitting on a fortune estimated at $2.7bn.
Rihanna is not the first celebrity to make a fortune from cosmetics. Kylie Jenner, the youngest member of the Kardashian-Jenner American reality-TV family, became the world’s youngest billionaire in 2019 at the age of 21 thanks to the success of Kylie Cosmetics, the makeup company she runs largely from her iPhone.
Her sister, Kim Kardashian West, also has a cosmetics business, KKW Beauty, while the actor Jessica Alba runs the beauty and wellness brand Honest Co.
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