The businesswoman and singer has a net worth of more than $1 billion.
As of right now, Forbes lists Rihanna as the youngest self-made millionaire.
The founder of Fenty Beauty was named the youngest self-made billionaire woman on Forbes’ annual list of the nation’s wealthiest self-made women, which was published in June. Kylie Jenner had previously held the distinction.
Jenner, who was 21 at the time, beat out Facebook founder Mark Zuckerberg for the title of youngest-ever self-made billionaire in 2019. However, Forbes later revoked that title after publishing an article alleging that Jenner’s billionaire status and the financial records on which her title was based had been manipulated.
Jenner and her attorney argued at the time that Forbes’ retractions were unlawful and that the publication had made inaccurate claims regarding Jenner’s personal finances and those of her business, Kylie Cosmetics.
In May 2020, Forbes told E! News that it stood by its findings, stating that its “extensively-reported inquiry was spurred by newly-filed records that revealed significant disparities between material privately offered to journalists and information publicly supplied to shareholders.”
The publication claimed: “Our reporters identified the errors and spent months locating the truth.”
According to Forbes, Rihanna has a net worth of $1.4 billion and has risen to the top rank among women thanks to her music, which includes Billboard chart-toppers like “Umbrella,” “Disturbia,” and “Rude Boy,” as well as a number of business enterprises.
The 34-year-old performer is the CEO and joint-owner of her Fenty Beauty cosmetics line with luxury goods giant LVMH. Fenty Beauty made significant headlines in 2017 for developing over 40 foundation colours to complement a wide range of complexion tones. The company boasts 50 ground-breaking hues today, and it is frequently commended for transforming the beauty sector and bringing attention to the long-standing dearth of inclusive and varied products among established brands.
The company also offers a variety of different cosmetics, such as bold lipsticks and eye-catching highlighting powders.
According to Forbes, Rihanna also has a 30% stake in her Savage x Fenty lingerie line, which generated $550 million in sales in 2020. The publication said in June that the company “received money at a $1 billion valuation in February 2021.”
Rihanna is also the brains behind Fenty Skin, which she introduced in 2020. The brand, which is distinct from Fenty Beauty, specializes in skincare necessities including face cleansers, sunscreen, serum, and more.
In 2019, the “Diamonds” singer and parent company LVMH also unveiled the Fenty clothing collection. But it was revealed in 2021 that the partners had mutually agreed to dissolve their partnership and close the company.
The singer claims to also be philanthropically motivated. According to its website, she founded the nonprofit Clara Lionel Foundation in 2012, which claims to “help and fund climate resilience and climate justice projects in the U.S. and Caribbean.”
During a 2019 interview with the New York Times’ T Magazine, Rihanna stated, “My money is not for me; it’s always the concept that I can help someone else.
The world has a way of convincing you that the wrong things are important, and it may cause you to seriously miss the essence of what it means to be alive.
Along with all of her professional endeavors, the 34-year-old gave birth to her first kid in May with rapper boyfriend A$AP Rocky. In the latter part of January, she made the pregnancy public.
In addition to Rihanna, Jenner’s sister Kim Kardashian, 41, who has a net worth of $1.8 billion, is ranked number 16 on Forbes’ list of the nation’s richest women. With a net worth of $600 million, 24-year-old Jenner was included in this year’s list at number 41.
Kylie Jenner has been contacted by ABC News for comment; we will update this article once she responds.
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