According to Forbes, Rihanna became the richest woman musician in the world, as her net value reached a whopping value of $ 1.7 billion, and believe it or not, it’s not because of her music!
Rihanna, whose birth name is Robyn Fenty, launched Fenty Beauty as a joint venture with LVMH, which is a French luxury goods conglomerate. Her brand now stands at a value of $2.8 billion itself. Even upon launch, her products were an instant success, grossing $500 million in sales just in the first year. The beauty brand is largely known for its Pro Filt’R Foundation, which launched with an extensive range of shades, 4o in total. Later on, 10 more shades were added to the collection. Rihanna’s main aim was to create a range that effectively incorporated darker skin tones, as she thought they were not enough available varieties in the market.
“A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium-dark, dark,” says Shannon Coyne, co-founder of consumer products consultancy Bluestock Advisors. “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.’”
However, Fenty Beauty isn’t the only successful brand Rihanna launched; Savage x Fenty, her lingerie line which is another joint venture, this time with TechStyle Fashion Group, raised $115 million in funding at a $1 billion valuation.
And of course, Rihanna being one of the leading pop stars, is known throughout the world for many of her albums, such as Anti, Good Girl Gone Bad, Loud, etc. Many of her songs, for instance, Love The Way You Lie, Diamonds, We Found Love, Only Girl were all chart-toppers. Additionally, the singer acted in several films including the famous Ocean’s 8 (2018), Valerian and the City of a Thousand Planets (2017), and Battleship (2012).
Her brands combined with her income as a singer and an actor all add up to her billionaire status, and she now stands second to only Oprah as the richest entertainer, crossing both Beyoncé and Madonna on the list.
