Singer, Rihanna has officially been crowned a Billionaire by Forbes!
An estimated $1.4 billion of the fortune comes exclusively from Fenty Beauty, of which she owns a 50 percent share. Much of the rest of her net worth — around $270 million — comes from sales stemming from her music and acting career along with her stake in her lingerie line, Savage x Fenty.
Forbes has attributed Fenty Beauty’s success not only to its celebrity founder but also its uniquely diverse product line, with a foundation available in 50 different skin tones for women of color.
A 50-50 joint venture with French luxury conglomerate LVMH, which also owns makeup retailer Sephora, Fenty Beauty was reportedly racking in $550 million during its first calendar year in 2018, beating out other celebrity lines like Kylie Jenner’s Kylie Cosmetics and Kim Kardashian West’s KKW Beauty.
Well, next time you call the name, Rihanna, add another layer of respect to it. Indeed, hard and smart work profits.
Good job Ri!