Rihanna, the singer, is now the youngest self-made billionaire woman in the United States, with a net worth of $1.4 billion. She earned her fortune solely through her own efforts. According to Forbes’ yearly list for 2022, the singer is now rated as the 21st wealthiest self-made woman in the United States. Rihanna is the only person on this list who is a female billionaire and is under the age of 40. She is a musician who has won nine Grammy awards.
The yearly list that Forbes compiles was made public last month. The musician, who was born in Barbados, dethroned Kim Kardashian to become the youngest self-made millionaire in the United States. The 41-year-old Kardashian was given the title after her net worth climbed from $780 million to $1 billion between October 2020 and April 2021. At the time, she was granted the title in the previous year.
How did Rihanna land on the list?
Rihanna is the youngest self-made female billionaire in the United States of America as of the 1st of July 2022, when she will be 34 years old. The Umbrella singer has not only had success in his career as a musician, but he has also been successful as an entrepreneur. Her company, Fenty Beauty, has seen a meteoric rise in its level of success over the last three years. The musician known as Rude Boy has significant holdings in three different retail enterprises. These companies are Fenty Beauty, Fenty Skin, and Savage X Fenty. Rihanna’s cosmetics brand made more than $550 million in income in 2020, according to Forbes, which was cited in the article on the singer’s earnings.
In February of 2021, her lingerie brand, Savage X Fenty, was estimated to be worth one billion dollars. In addition to being the wealthiest female musician and the youngest female self-made billionaire in the United States as of today, she is also the first billionaire in Barbados and was named the youngest self-made female billionaire in the United States. After Rihanna, the next self-made woman on the list is Kylie Jenner, who has a net worth of $600 million, followed by Taylor Swift, who has a net worth of $570 million, Beyonce, who has a net worth of $450 million, and Kim Kardashian, who has a net worth of $1.8 billion.
Did Rihanna’s success with her Fenty Beauty line help her to become a billionaire?
In spite of the fact that there is no doubting that Fenty Beauty has emerged as the brand of choice for high-end cosmetics over the last few years, Nevertheless, she and LVMH, a French luxury goods giant, share ownership of the brand. Forbes projected the worth of Fenty Beauty to be close to $2.8 billion due to the consistent release of new products with each passing season.
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In addition to this, she has a thirty percent ownership position in Savage X Fenty, which is yet another business endeavor that is quite lucrative for the celebrity. There were some enterprises that were successful while others were not. Rihanna and LVMH were forced to close their high-end fashion and accessories firm in February. The company was also known as Fenty and operated under that name. Despite the fact that it was released in 2019, the brand took a significant amount of damage from the epidemic.
According to Bloomberg, earlier this year the singer was working with consultants to take her firm Savage X Fenty public with an initial offering that could possibly have a value of $3 billion. This would have been done in order to raise capital for the company.
In terms of her singing career, pop diva Rihanna remained reliable up until the year 2016, when she began releasing a new albums on an almost annual basis. Anti, her most recent album, was released in 2016. On the other hand, she has often asserted that she plans to put her wealth to productive use. Once, she said that
The notion that I can be of assistance to another person is what motivates me to work hard and save money. The outside world has a way of convincing people that the wrong things should take precedence, and this may cause them to lose sight of what is really important in life and what it means to be alive. The singer, who has more than 133 million followers on Instagram, has just become a mother for the first time to a kid with her boyfriend, A$AP Rocky.
