Rihanna, the singer, is now the youngest self-made billionaire woman in the United States, with a net worth of $1.4 billion. She made her fortune only through her own efforts. According to Forbes’ annual 2022 list, the singer is now rated as the 21st richest self-made woman in the United States. Rihanna is the only person on this list who is a female billionaire and under the age of 40. She is a musician who has won nine Grammy awards.
The annual list compiled by Forbes 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. Kardashian, 41, was awarded the title after her net worth increased from $780 million to $1 billion between October 2020 and April 2021. At the time, she was awarded the title the previous year.
How did Rihanna get on the list?
Rihanna is the youngest self-made female billionaire in the United States of America as of July 1, 2022, when she will be 34 years old. The Umbrella singer has not only had success in his career as a musician, but also as an entrepreneur. Her company, Fenty Beauty, has seen a rapid rise in success over the past three years. The musician known as Rude Boy has significant stakes in three different retail ventures. These companies are Fenty Beauty, Fenty Skin and Savage X Fenty. Rihanna’s cosmetics brand earned more than $550 million in revenue in 2020, according to Forbes, which was quoted in the singer’s earnings article.
In February 2021, her lingerie brand, Savage X Fenty, was valued at $1 billion. In addition to being the richest 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 become a billionaire?
Despite the fact that there is no doubt that Fenty Beauty has become the favorite brand for high-end cosmetics in recent years, she and LVMH, a French luxury goods giant, own the brand. Forbes predicted that the value of Fenty Beauty would be close to $2.8 billion due to the consistent release of new products with each passing season.
In addition, she has a thirty percent ownership position in Savage X Fenty, yet another business venture that is quite lucrative for the celebrity. There were some ventures that were successful while others were not. Rihanna and LVMH were forced to close their high-end fashion and accessories company in February. The company was also known as Fenty and operated under that name. Despite being released in 2019, the brand has suffered quite a bit from the epidemic.
Earlier this year, according to Bloomberg, the singer worked with consultants to make her firm Savage X Fenty public with an initial bid that could potentially be worth $3 billion. This would have been done to raise capital for the company.
As for her singing career, pop diva Rihanna remained reliable until the year 2016 when she started to release a new album almost every year. Anti, her most recent album, came out in 2016. On the other hand, she has often claimed that she intends to use her wealth productively. Once she said that
The idea that I can help another motivates me to work hard and save money. The outside world has a way of convincing people that the wrong things should take precedence, and this can lead them to lose sight of what really matters in life and what it means to live. The singer, who has more than 133 million followers on Instagram, has just given birth to a child for the first time with her boyfriend, A$AP Rocky.