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Beauty isn’t Rihanna’s only billion-dollar brand -
Congratulations, Queen!! 馃憫 Shine bright like a diamond!! 馃拵
THIS is how Black Women Handle Business! 馃挴
Rihanna is now worth $1.7 billion, Forbes estimates—making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.
But it’s not her music that’s made her so wealthy. The bulk of her fortune (an estimated $1.4 billion) comes from the value of FENTY Beauty, of which Forbes has confirmed she owns 50%.
Much of the rest lies in her stake in her lingerie company, Savage X Fenty: Lingerie by Rihanna, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress.
While Barbados-born Rihanna isn’t the only celebrity to capitalize on her social media presence—she has 101 million followers on Instagram and 102.5 million on Twitter —to build a beauty brand, she is the most successful beauty entrepreneur to do so.
FENTY Beauty, which is a 50-50 joint venture with French luxury goods conglomerate LVMH (run by Bernard Arnault, the world’s second-richest person), launched in 2017 with the goal of inclusivity.
Its products come in a diverse range of colors—foundation is offered in 50 shades, including harder-to-find darker shades for women of color—and are modeled in its advertising by an equally diverse group of people.
Available online and at SEPHORA stores, which are also owned by LVMH, the products were an instant success.
By 2018, its first full calendar year, the line was bringing in more than $550 million in annual revenues, according to LVMH, beating out other celebrity-founded brands like Kylie Jenner’s Kylie Cosmetics, Kim Kardashian West’s KKW Beauty and Jessica Alba’s Honest Co.
FENTY Beauty is worth a conservative $2.8 billion, Forbes estimates. And all signs point to the company continuing to grow.
FENTY Beauty isn’t Rihanna’s only billion-dollar brand. In February her lingerie line Savage X Fenty: Lingerie by Rihanna raised $115 million in funding at a $1 billion valuation.
Boss Moves!! 馃挴 Thank you for your inspiration, Queen! 馃憫鉂わ笍
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