Along with her simple expertise, relentless work ethic, and eager enterprise acumen, 34-year-old singer and entrepreneur Robyn “Rihanna” Fenty has cemented her place in historical past by turning into the youngest self-made billionaire in America, in accordance with Forbes.
This extraordinary accomplishment is a testomony to her unwavering dedication to her craft, her astute understanding of the style trade, and her means to determine and capitalize on rising alternatives available in the market.
Rihanna’s multi-faceted success could be attributed to her flourishing cosmetics line, Fenty Magnificence; her illustrious music profession; and her modern lingerie line, Savage X Fenty. Her web price stands at $1.4 billion, resulting from a slight lower from the earlier yr’s valuation of $1.7 billion.
Her music profession has been a serious supply of earnings for Rihanna, with hit albums and sold-out excursions producing tens of millions of {dollars} in income. Nevertheless it’s her forays into the wonder and trend industries which have really propelled her to billionaire standing.
Fenty Magnificence, which she launched in 2017, has change into a worldwide phenomenon, for its inclusivity and wide selection of shades for ladies of all pores and skin tones. The model has since expanded to incorporate a wide range of merchandise, from concealers to lip glosses, and has been a serious contributor to her fortune.
Equally, her lingerie line Savage X Fenty, launched in 2018, has change into a preferred vacation spot for ladies on the lookout for comfy and attractive undergarments.
These are the three belongings which have helped Rihanna obtain billionaire standing:
#1 Fenty Magnificence
Her stake within the cosmetics firm is price $1.1 billion
Rihanna, the third R&B and hip-hop artist to change into a billionaire, earned the vast majority of her $1.4 billion fortune from her cosmetics line, Fenty Magnificence. Launched in 2017 as a partnership with LVMH, the corporate’s merchandise can be found on Sephora cabinets and on-line in over 150 international locations, with 2020 income exceeding $550 million.
In 2022, Fenty Magnificence launched in eight African international locations, together with Nigeria, South Africa, Botswana, and Kenya, as a part of a method to broaden the enterprise and capitalize on alternatives on the continent.
#2 Savage x Fenty
Her stake within the lingerie line is price $270 million
Along with Fenty Magnificence, Rihanna’s lingerie line Savage x Fenty has additionally achieved billion-dollar success. In February 2021, the model raised $125 million in a funding spherical led by Neuberg Berman, valuing the corporate at $1 billion. This brings its complete enterprise capital funding since its launch to a powerful $310 million.
The corporate which is 30 p.c owned by Rihanna launched in 2018 in partnership with TechStyle Vogue Group, boasts buyers equivalent to Jay-Z’s Marcy Enterprise Companions and personal fairness agency L. Catterton, which incorporates Bernard Arnault as a shareholder.
#3 Rihanna’s web earnings from her profession
With a profitable profession spanning throughout music and appearing, Rihanna has amassed a major fortune, with estimates putting her web earnings at roughly $30 million. Nonetheless, this determine has but to be formally confirmed by the artist herself or by respected sources equivalent to Forbes.
What it is best to know
Rihanna is increasing her Fenty model even additional with the submitting of two functions for Fenty Hair with the U.S. Patent and Trademark Workplace. This transfer alerts her intention to launch a complete haircare line that may complement her already profitable Fenty Magnificence and Savage x Fenty lingerie strains.
Fenty Hair assortment will embody a wide selection of hair equipment, together with hairbands, bows, clips, ribbons, scrunchies, wigs, curlers, pins, brushes, and combs, additional solidifying the Fenty model’s dominance within the trend and cosmetics industries.
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