Rihanna Tops $1 Billion in Net Worth – Rihanna Is Now Officially A Billionaire
Rihanna net worth
The Billionaire's Club Has A New Member: Rihanna
Rihanna told us all along she was calling the shots. Out there, collecting money from all manner of … people.
Now it turns out the singer, actress, cosmetics and lingerie mogul is a billionaire.
Not only that, she's become "the wealthiest female musician in the world and second to Oprah as the richest female entertainer," according to Forbes.
The publication, which has been crunching the numbers behind the Barbadian star's empire, estimates her net worth at a whopping $1.7 billion.
Surprisingly, the vast majority of it has nothing to do with her record-breaking hits. In fact, most of it — approximately $1.4 billion –has been accumulated one lipstick, mascara tube, and blush brush at a time: the oodles of cash raked in from her Fenty Beauty makeup line launched in 2017 in a 50-50 partnership with luxury brand LVMH.
The brand bucked traditional cosmetic industry standards when it was first unveiled and drew praise for the daring step of including 40 shades of foundation that would provide coverage from deep skin tones to albino skin, and anyone in between. The strategy sparked a movement to be more inclusive within the industry.
Forbes says the rest of Rihanna's fortune stems from her stake in Savage x Fenty, her lingerie company. That is estimated at $270 million. There's also Fenty Skin, which debuted last year and, of course, the revenue that comes from her steady stream of global hits as well as her acting career.
Rihanna Is Now Officially A Billionaire
Bad Girl Riri fans have been delighting in the news of her mega-wealth, including some of her musical peers.
Nikki Minaj congratulated her with what could be a rap lyric: "a BILLI-ON here, a BILLI-ON there- Little Bajan bih w/ green [eyes] – dat bag is a different size," Minaj wrote in an Instagram post.
It's been more than five years since Rihanna, whose full name is Robyn Rihanna Fenty, released an album. And it seems no one, not even her record label, knows when R9, her rumored and long-awaited reggae album will drop.
For now, fans will have to make due with a new line of products. Last week, Rihanna told her Twitter followers to prepare for Fenty Parfum.
How the singer became the richest female musician on the planet. Hint: It wasn't from performing.
when Robyn Fenty, known to the world as Rihanna, launched Fenty Beauty in 2017, she sought to create a cosmetics company that made "women everywhere (feel) included." A perhaps unintended consequence: The beauty line has helped her enter one of the world's most exclusive ranks: Billionaire.
Rihanna is now worth $1.7 billion, Forbes estimates—making her the wealthiest female musician in the world
and second only to Oprah Winfrey as the richest female entertainer. But it's not her music that's made her so wealthy. The bulk of her fortune (an estimated $1.4 billion) comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50%. Much of the rest lies in her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress.
While Barbados-born Rihanna isn't the only celebrity to capitalize on her social media presence—she has 101 million followers on Instagram and 102.5 million on Twitter—to build a beauty brand, she is the most successful beauty entrepreneur to do so. Fenty Beauty, which is a 50-50 joint venture with French luxury goods conglomerate LVMH (run by Bernard Arnault, the world's second-richest person), launched in 2017 with the goal of inclusivity. Its products come in a diverse range of colors—foundation is offered in 50 shades, including harder-to-find darker shades for women of color—and are modeled in its advertising by an equally diverse group of people.
Available online and at Sephora stores, which are also owned by LVMH, the products were an instant success. By 2018, its first full calendar year, the line was bringing in more than $550 million in annual revenues, according to LVMH, beating out other celebrity-founded brands like Kylie Jenner's Kylie Cosmetics, Kim Kardashian West's KKW Beauty and Jessica Alba's Honest Co.
"A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark," says Shannon Coyne, cofounder of consumer products consultancy Bluestock Advisors. "We all know that's not reality. She was one of the first brands that came out and said, 'I want to speak to all of those different people.'"
While cosmetics sales slowed during the pandemic, beauty companies are worth as much as ever. Stocks of larger beauty conglomerates like Estée Lauder and L'Oréal have bounced back, reaching all-time highs and trading at impressive 7.5 (or more) times annual revenues. Meanwhile, independent brands like Beautycounter and Charlotte Tilbury inked deals with investment firms earlier this year at billion-dollar valuations.
That is good news for Rihanna.
Thanks to the impressive multiples at which beauty companies are trading, Fenty Beauty is worth a conservative $2.8 billion, Forbes estimates. And all signs point to the company continuing to grow. In its annual report for 2020, LVMH said Fenty Skin, which launched last year, was off to a "very promising start" and "generated unprecedented buzz," and that Fenty Beauty "maintained its appeal as a premier makeup brand."
Rihanna Tops $1 Billion in Net Worth: Report
You can call her Ri-Ri, wear her Savage X lingerie or Fenty perfume.
And Rihanna wouldn't mind.
But the pop superstar and business mogul probably doesn't mind anyone calling her a billionaire.
According to Forbes, the 33-year-old Barbadian beauty has achieved billionaire status.
With an estimated net worth of $1.7 billion, the Grammy winner now counts as the wealthiest female musician globally.
The "Work" singer only trails Oprah Winfrey as the world's richest entertainer.
"A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium-dark, dark," Shannon Coyne, co-founder of consumer products consultancy Bluestock Advisors, told Forbes. "We all know that's not reality. She was one of the first brands that came out and said, 'I want to speak to all of those different people.'"
Born Robyn Rihanna Fenty on February 20, 1988, in Saint Michael, Barbados, the tantalizing starlet delivered hit after hit with songs like "Umbrella," "Rude Boy" and "Diamonds."
With well over 100 million social media followers, Rihanna's fans have pleaded with their idol to deliver new music. But with her Fenty and Savage X Fenty business white-hot, Rihanna appears to have settled in as an entrepreneur and business magnate.
Cutting deals with Puma in 2014, Dior in 2016, Fenty Beauty in 2017, Savage X Fenty in 2018 and Fenty Skin in 2020, Rihanna has remained business-focused.
Forbes writer Madeline Berg described Rihanna's rise this way: "When Robyn Fenty, known to the world as Rihanna, launched Fenty Beauty in 2017, she sought to create a cosmetics company that made 'women everywhere (feel) included.' A perhaps unintended consequence: The beauty line has helped her enter one of the world's most exclusive ranks: Billionaire.'
Berge concluded by providing commentary from Coyne, the consultant.
"She is creating a brand outside of herself," Coyne said. "It's not just about Rihanna. Even if you don't like her music, she's created a real style in the fashion and beauty space."
Rihanna is now a billionaire, second only to Oprah as wealthiest female entertainer
Rihanna is now worth $1.7 billion, according to Forbes — though the bulk of that fortune does not come from her performances.
Good girl gone billionaire?
Barbadian singer Rihanna just joined an exclusive group of celebrities as the newest billionaire and the world's wealthiest female musician, Forbes reported Wednesday.
Rihanna's fortune currently stands at about $1.7 billion, the finance magazine tabulated. Only Oprah Winfrey surpasses her as the wealthiest female entertainer.
But while Rihanna may be known for hits such as "Umbrella" and "Diamonds," her fortune is largely the result of the beauty and fashion companies she founded.
Fenty Beauty — which comes from the singer's last name — is currently valued at about $2.8 billion, and was founded in 2017 with luxury goods giant LVMH. Rihanna also owns Fenty Skin and the lingerie line Fenty x Savage, which is worth $1 billion.
Forbes estimated that Rihanna owns about 30 percent of Savage x Fenty and about 50 percent of Fenty Beauty, which aims to provide consumers with a more inclusive beauty company that offers a wide range of skin types and colors.
Demand for the makeup company has remained fairly steady even as the pandemic sent shockwaves through the retail market. A 2020 annual report from LVMH revealed decreased revenue as a result of the pandemic, but the company said it also "showed good resilience" and "a significant improvement in trends in all its activities compared to the first nine months of 2020."
Rihanna, who is 33 and originally from Barbados, is one of about a dozen Black billionaires in the United States.
'Shining bright like a diamond': Rihanna becomes billionaire, wealthiest female musician in world
rihanna, the award-winning, chart-topping artist, just added another title to her repertoire: Billionaire.
How did Rihanna get so rich?
Forbes estimates she is now the wealthiest female musician in the world with a fortune worth $1.7 billion. That makes her second only to Oprah Winfrey for the world's richest female entertainer.
How did she achieve that milestone? It all started with her desire to create a more inclusive makeup brand.
Fenty Beauty, which launched in 2017, aimed to include products reflecting the diverse skin tones of women, especially those with darker complexions.
It launched in partnership with French fashion company LVMH in Sephora and the U.K. department store Harvey Nichols.
LVMH reported that in its first year, Fenty Beauty grossed $500 million in sales, and Forbes estimated the company is now worth $2.8 billion itself.
"Makeup is there for you to play with. It's there for you to have fun with. It should never feel like pressure, and it should never feel like a uniform," Rihanna said in a quote on the Fenty Beauty website.
Since then, she has launched a skincare line, lingerie brand and a high-end fashion division, all with the goals of creating more inclusive product lines.
While all these brands also contain other partners, Rihanna still owns a significant enough percentage to profit handsomely off of their success. Forbes estimates $1.4 billion of her fortune comes from the beauty brands alone.
Rihanna was able to add the profits from her successful beauty brands to her fortunes earned from her chart-topping music career and acting roles.
She earned 14 No. 1s and 31 top-10 singles in the U.S. alone. Her iconic songs include "Diamonds," "Umbrella" and "We Found Love."
Rihanna has earned nine Grammys over the course of her career, though the singer has not released a new album since "Anti" in 2016.
For now, she is continuing to prioritize her beauty and fashion brands. Her Twitter teased the launch of a Fenty Perfume line, which would bring her full circle to some of her first forays into beauty products.
Robyn Rihanna Fenty
(born February 20, 1988), known mononymously as Rihanna (/riˈænə/ ree-AN-ə;[1][n 1]), is a Barbadian singer, actress, fashion designer, and businesswoman. Born in Saint Michael and raised in Bridgetown, Barbados, Rihanna was discovered by American record producer Evan Rogers who invited her to the United States to record demo tapes. After signing with Def Jam in 2005, she soon gained recognition with the release of her first two studio albums, Music of the Sun (2005) and A Girl like Me (2006), both of which were influenced by Caribbean music and peaked within the top ten of the US Billboard 200 chart. In 2017 she founded the fashion house Fenty as its artistic director, and became the first black woman to head a luxury brand for LVMH (Moët Hennessy Louis Vuitton) group.
Rihanna's third album, Good Girl Gone Bad (2007), incorporated elements of dance-pop and established her status as a sex symbol in the music industry. The chart-topping single "Umbrella" earned Rihanna her first Grammy Award and catapulted her to global stardom. She continued to mix pop, dance, and R&B genres on her next studio albums, Rated R (2009), Loud (2010), Talk That Talk (2011), and Unapologetic (2012), which became her first Billboard 200 number one. The albums spawned a string of chart-topping singles, including "Rude Boy", "Only Girl (In the World)", "What's My Name?", "S&M", "We Found Love", "Diamonds", and "Stay". Her eighth album, Anti (2016), showcased a new creative control following her departure from Def Jam. It became her second US number-one album and featured the chart-topping single "Work". Rihanna has collaborations with artists such as rappers Drake, Eminem, Jay-Z, and Kanye West and singers Adam Levine, Paul McCartney, Ne-Yo, and Shakira.
With sales of over 250 million records worldwide, Rihanna is one of the best-selling music artists of all time. She has earned 14 number-ones and 31 top-ten singles in the US and 30 top-ten entries in the UK. Her accolades include nine Grammy Awards, 13 American Music Awards, 12 Billboard Music Awards, and six Guinness World Records. Time named her one of the 100 most influential people in the world in 2012 and 2018. Forbes ranked her among the top ten highest-paid celebrities in 2012 and 2014; as of 2021, she is the wealthiest female musician, with an estimated net worth of $1.7 billion.
Fenty Beauty (stylized as FEИTY BEAUTY) is a cosmetics brand that was launched on September 8, 2017 by Rihanna.
The brand is popular for its broad inclusivity across skin tones and gender, especially its Pro Filt'R foundation. The original foundation launch included 40 shades, since expanded to 50.
The inclusion of Fenty Beauty concealer includes 50 shades offering a wide variety to all skin types. The intent behind having so many shades to offer is to differentiate from other makeup companies that do not cater to a broad market. Fenty Beauty was named one of Time magazine's best inventions of 2017.
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