Good lady gone billionaire? Barbadian singer Rihanna simply joined an unique group of celebrities as the latest billionaire and the world’s wealthiest feminine musician, Forbes reported Wednesday.
Rihanna’s fortune at the moment stands at about $1.7 billion, the finance journal tabulated. Solely Oprah Winfrey surpasses her because the wealthiest feminine entertainer.
However whereas Rihanna could also be recognized for hits resembling “Umbrella” and “Diamonds,” her fortune is essentially the results of the sweetness and trend corporations she based.
Fenty Magnificence — which comes from the singer’s final identify — is at the moment valued at about $2.8 billion, and was based in 2017 with luxurious items large LVMH. Rihanna additionally owns Fenty Pores and skin and the lingerie line Fenty x Savage, which is value $1 billion.
Forbes estimated that Rihanna owns about 30 p.c of Savage x Fenty and about 50 p.c of Fenty Magnificence, which goals to supply shoppers with a extra inclusive magnificence firm that gives a variety of pores and skin sorts and colours.
Demand for the make-up firm has remained pretty regular even because the pandemic despatched shockwaves via the retail market. A 2020 annual report from LVMH revealed decreased income because of the pandemic, however the firm stated it additionally “confirmed good resilience” and “a major enchancment in tendencies in all its actions in comparison with the primary 9 months of 2020.”
Rihanna, who’s 33 and initially from Barbados, is one in every of a couple of dozen Black billionaires in the USA.