Rihanna is America’s Youngest Self-Made Billionaire

Rihanna’s net worth broke the one-billionth mark, Forbes estimates

Barbadian singer Rihanna at the Met Gala in 2017. Photo courtesy of Danilo Lauria.

This article was originally published on BLAC Detroit Magazine.

The youngest self-made billionaire in America isn’t on Wall Street, and didn’t grow up on Hollywood Boulevard. Instead, she amassed her fortune from music and entrepreneurial ventures — which have made the 34 year old singer and entrepreneurial mammoth worth $1.4 billion dollars.

Some of Rihanna’s $1.4 billion net worth is from her successful music career, while some of her fortune comes from her many endorsement deals; after all she is the face of brands like Puma, Dior, and Cover Girl. And in 2019, she earned the prestige of being one of the few women who have created a successful, original luxury brand with Moët Hennessy Louis Vuitton (LVMH) — alongside Dior, Givenchy, Celine, and Fendi.

Unsurprisingly, most of Rihanna’s fortune is from her entrepreneurial ventures: Fenty Beauty, Fenty Skin and Savage X Fenty.

Fenty Beauty, Rihanna’s makeup line, is one of her most successful businesses. The company launched in September 2017 with an impressive range of foundation shades. It quickly became a hit with customers and critics alike, earning a coveted spot on Time magazine’s list of the best inventions of 2017.

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Today, Fenty Beauty, which Rihanna owns 50 percent of, is worth an estimated $3 billion, making it one of the most valuable beauty brands in the world. The brand also raked $550 million in revenues in 2020.

Savage X Fenty, which the pop star owns 30 percent of, was estimated for an initial public offering (IPO) valuation of $3 billion, according to Bloomberg.

The nine-time Grammy winner said that her focus is not on valuations and numbers. She told T Magazine back in 2019 that she never planned on becoming rich, noting that her financial success will not stop her from working.

My money is not for me; it’s always the thought that I can help someone else,” Rihanna said. “The world can really make you believe that the wrong things are priority, and it makes you really miss the core of life, what it means to be alive.”

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