Rihanna’s Net Worth: How Did She Become A Billionaire? Rihanna’s Net Worth: How Did She Become A Billionaire?
Rihanna has officially become a millionaire after releasing eight studio albums and starting a fashion and beauty company.
According to Forbes, Rihanna is the second richest entertainer in the world, trailing only Oprah Winfrey. Rihanna’s net worth is believed to be $1.7 billion.
But how did the 33-year-old get to be so wealthy?
Rihanna began her career as a singer, with hits like “Umbrella” and “Work.” However, the singer’s Fenty Beauty cosmetics brand, which she owns 50% of, accounts for the majority of her $1.4 billion fortune.
The rest of her fortune comes from her music, film, and Savage x Fenty, a lingerie brand in which she owns a 30% stake and is worth roughly $270 million.
Fenty Beauty was founded by Rihanna in 2017 as a 50/50 joint venture with LVMH, a French luxury goods corporation. By the following year, the brand had amassed yearly revenues of almost $550 million.
Fenty Beauty is presently valued at $2.8 billion, and after Rihanna debuted Fenty Skin last year and recently revealed ambitions to enter the fragrance sector with Fenty Parfum, the company is only expected to grow.
According to Shannon Coyne, a financial analyst, the singer was prudent to pursue a profession outside of music.
“She’s building a brand that’s separate from herself. It’s not just about Rihanna, according to Coyne. “Even if you don’t like her music, she’s established a strong presence in the fashion and cosmetics worlds.”
Rihanna’s beauty line was able to stand apart from other celebrity makeup lines, according to Coyne, because the singer wanted to cater to all skin types rather than a specific demographic.
“A lot of people thought there were no lines that catered to their skin tone out there. Coyne described the lighting as “light, medium, medium-dark, dark.”
“We all know that isn’t the case. She was one of the first companies to say, “I want to talk to all of those diverse folks.”
While Rihanna continues to dabble in beauty and fashion, fans are eagerly anticipating the release of her ninth studio album. Anti, the singer’s most recent album, was released in 2016.