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Rihanna Becomes a Billionaire with Fenty Beauty

Credit: Unsplash

Rihanna has been a prominent figure in the music industry since the early 2000s, but her rise to billionaire status is largely credited to her cosmetics brand, Fenty Beauty. It is through a combination of her music career and Fenty Beauty that Rihanna has established herself as one of the wealthiest women globally.

Forbes reported that Rihanna has officially reached billionaire status, with a net worth of $1.7 billion. This achievement makes her the richest female musician worldwide, second only to Oprah Winfrey in terms of female entertainers.

Forbes estimates that about $1.4 billion of Rihanna’s net worth comes from Fenty Beauty, particularly the cosmetics line, while an additional $270 million is attributed to Savage X Fenty, a lingerie line associated with the Fenty brand. The remainder of her wealth is derived from her music and acting endeavors.

Rihanna actually only owns approximately 50% of Fenty Beauty, with the other half managed by the French luxury group LVMH. Interestingly, LVMH is headed by Bernard Arnault, the second-richest person globally.

Shannon Coyne, co-founder of Bluestock Advisors, attributes Fenty Beauty’s success (and Rihanna’s success by extension) to its inclusive range of products designed for various skin tones, a unique offering compared to other major cosmetic brands.

“She was one of the first brands that came out and said, ‘I want to speak to all of those different people.’” Coyne commented on Rihanna’s forward-thinking approach.

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