How Rihanna Has Built An Estimated $1B Fortune
Robyn ‘Rihanna’ Fenty is the richest female musician in the world and the second-highest-paid entertainer behind Oprah. Since signing to Def Jam Records in 2005, Rihanna has been a force in music, modeling, fashion, and beauty. Now, her fortune is worth $1.7 billion according to Forbes. However, unlike most billionaires, she didn’t come from generational wealth, nor did her music career directly amass her fortune. After launching Fenty Beauty in 2017, things changed immensely for the pop star, as a new precedent was set for her self-made billions.
The Beauty of Fenty
In 2017, Rihanna created Fenty Beauty, a makeup brand catered to those who found it difficult to find their foundation shade in deeper, darker skin tones. In the first year, Fenty Beauty profited $100 million and grossed more than $550 million in annual sales. Rihanna then partnered with LVMH, a global fashion house where she now owns 50% of the company. According to Forbes, the company by itself is worth $2.8 billion.
Savage X Fenty
Shortly after releasing Fenty Beauty, Rihanna’s lingerie line Savage X Fenty was launched in 2018. Known for its inclusive sizing and diverse showcase models, Rihanna has a 30% stake in this company, estimated to be worth a whopping $270 million. In 2022, Bloomberg reported that the company was eyeing an initial public offering (IPO) at a valuation estimated around $3 billion. Equity investors predict that Rihanna’s 30% stake in Savage X Fenty will translate into 30% of the equity in the company post IPO. This move would make her stake worth a grand total of $990 million. Now that’s savage!
The Future of Fenty
The Fenty brand isn’t just stopping at makeup and lingerie. Rihanna introduced Fenty Skin in July of 2021, which targets people with skin concerns that are often underserved and ignored. While we likely won’t be getting an album from the new self-made billionaire anytime soon, we can expect new product launches, more fashion shows, and even a new baby, as the 34-year-old Rihanna welcomes a baby later in 2022.