Fenty Beauty Founder Rihanna is Now a Billionaire
Pop singer and businesswoman Rihanna is now a member of the billionaires club after Forbes reported that she is now worth a whopping US$1.7 billion.
This makes her one of the richest female musicians in the world and only second to Oprah Winfrey, who is the richest female entertainer.
However, it was not her music that propelled her to billionaire status. In fact, Forbes reported that “the bulk of her fortune (an estimated US$1.4 billion) comes from the value of Fenty Beauty” of which she owns 50 per cent. The popular brand is Rihanna’s first venture into the beauty industry as part of a successful partnership with French fashion giant LVMH.
It was launched to much fanfare in 2017 and broke the Internet (as well as inspired beauty trends everywhere) by offering an inclusive range of 50 foundation shades for different skin tones. It became one of the first makeup brands to release a makeup range that catered to a diverse range of users.
Since then, Fenty Beauty has branched out into skincare with Fenty Skin, which has also enjoyed much success. The rest of the star’s wealth comes from her lingerie company, Savage x Fenty, which is worth an estimated US$270 million.