Cover Rihanna became a billionaire largely because of the success of Fenty Beauty (Photo: Kevin Mazur/Getty Images for Fenty Beauty by Rihanna)

Here are the most successful beauty companies and CEOs in 2022

The cosmetics industry does more than ensure a pretty face: it’s a mammoth money-spinner, and that’s one the reasons that more and more make-up and skincare brands are launching every year. With social media changing the game and allowing more companies and influencers to be visible on an international level, it’s majorly boosted the value of cosmetics as a whole.

Read more: Why Filters on Social Media Are Changing Make-up Trends for the Better

According to Globe Newswire, the global cosmetics market was valued at USD$307 billion in 2020, however much of that belongs to just a handful of businesses and individuals. These are some of the most successful brands and business owners in the beauty industry in 2022, and how they got their net worth.

1. Françoise Bettencourt Meyers is the most successful woman in beauty

The richest woman in the cosmetics industry and indeed in the world is Françoise Bettencourt Meyers, granddaughter of the founder of L’Oréal, with a net worth of US$74.8 billion.

2. Rihanna’s Fenty Beauty is worth a billion dollars

Singer and cosmetics mogul Rihanna joined this year’s Forbes billionaire list thanks to her Fenty Beauty brand of skincare and make-up which, in addition to music, helps put her net worth at an estimated US$1.4 billion.

Don't miss: When Will Consumers Grow Tired of Celebrity-Owned Beauty Brands?

3. Huda Kattan is one of the most successful influencers

With a combined 64 million followers across social media platforms, Huda Kattan is one of the most successful beauty influencers. Her make-up brand Huda Beauty and recent skincare line Wishful contributed to her earning US$13 million in 2021.

4. Kylie Cosmetics dominates on Instagram

Kylie Cosmetics is the most followed beauty brand on Instagram, with more than 25 million followers. In 2019, founder Kylie Jenner sold 51 per cent of the company to beauty multinational Coty for US$600 million.

5. L’Oréal is the most successful cosmetics company

In 2022, L’Oréal remains the most valuable cosmetics brand in the world, with a value of US$11.2 billion. Estée Lauder is second most valuable, at US$7.9 billion, and is the fastest-growing company—its value jumped 39 per cent, moving the company up three places from last year.

Don't miss: The First Asian Woman to Lead L’Oréal Hong Kong Wants to Empower Others and Influence Beauty Standards

6. Asia’s top consumer of cosmetics is China

China is second largest consumer market for cosmetics in the world—it accounted for 17 per cent of the global market in 2021. The country’s own cosmetics market was valued at RMB 572.6 billion in 2021, with skincare the most profitable category, followed by make-up and perfume.

7. Falguni Nayar is India’s richest self-made woman

Falguni Nayar, founder of e-commerce platform Nykaa, is worth US$4.2 billion, making her the richest self-made woman in India. She set up the company as a cosmetics retailer in 2012; it now carries more than 4,000 beauty, wellness and fashion brands.

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