Rihanna, singer and CEO of Fenty Beauty, officially has a net worth of $1.4b, making her the nation's youngest self-made billionaire. In addition, she ranked number 21 overall on Forbes' yearly list of the wealthiest self-made women in America for the third consecutive year.
Her enormous net worth is mainly due to her three lucrative businesses, Fenty Beauty, Fenty Skin, and Savage X Fenty, with Rihanna having a 30% and 50% stake in Savage X Fenty and Fenty Beauty. Her lingerie line, Savage X Fenty, has been a success, so much so that Bloomberg reported in March that the company was working with advisors on an IPO that could be valued at $3 billion. On the other hand, Fenty Beauty is half-owned by the singer and French luxury clothing company LVMH. It debuted under Kendo, the fashion giant's beauty incubator, and in 2020, Fenty Beauty reported $550m in revenue. The company is now estimated to be worth $2.3b.
Why it matters
The youngest self-made woman billionaire in the U.S. came from humble beginnings and built her fortune from her own music and entrepreneurial ventures. That being said, not all of Rihanna's business endeavours have been successful, as evidenced by the fact that her high-end accessories and apparel line Fenty released its final collection in November 2020 before LVMH and Rihanna announced the brand's closure. The high-end collection, which offered styles in all sizes, attempted to support Rihanna's inclusiveness campaign but struggled during the pandemic.
