Home NEWS International Rihanna Is Now Officially A Billionaire

Rihanna Is Now Officially A Billionaire

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According to Forbes, award-winning singer, Rihanna is currently a billionaire and the richest female musician in the world. From what xorlali.com sighted, the founder of fashion house Fenty as well as makeup line Fenty Beauty now has a net worth of $1.7 billion, making her the wealthiest female musician in the world and the second-richest female entertainer in the world after Oprah Winfrey.

Rihanna’s Net worth 2021 is from her Fenty Beauty, of which she owns a 50 percent share summing up to $1.4 billion. 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 attributes Fenty Beauty’s success not only to her being a celebrity 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.

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Fenty Beauty was reportedly raking 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. Cosmetics sales have bounced back from their pandemic lows and are only expected to increase in the coming year.

Rihanna’s Savage x Fenty line has also proven to be a success, raising $115 million in funding this past February at a $1 billion valuation. The company, also founded in 2018, is a joint venture with TechStyle Fashion Group; Rihanna maintains a 30 percent ownership stake. The singer’s fashion and accessory house Fenty proved to be much less profitable: Launched in 2019, Fenty was confirmed to have been shut down by Rihanna and LVMH in February due to low sales during the pandemic.

Source: xorlali.com

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