Rihanna is one of the most famous and successful singers in the world. She has sold millions of records, won multiple awards, and toured around the globe. But, she has also built a billion-dollar business empire that extends beyond music.
Rihanna’s Net Worth 2023
Rihanna is known for her success as a singer, but her entrepreneurial spirit is what has made her a billionaire. With an estimated net worth of $1.4 billion in 2023, she became America's youngest self-made female billionaire in 2022.
A large portion of her wealth can be attributed to her makeup company, Fenty Beauty. The company has garnered a lot of attention not just for its success but also for its inclusivity, catering to people of different skin tones and shades. Rihanna has spearheaded a movement in the cosmetics industry, demonstrating the power of diversity and representation. Her drive and business savvy have paid off, making her one of the richest women in the world.
Rihanna’s Early Life
Rihanna's journey to superstardom began in a humble birthplace, Saint Michael, Barbados, on February 20, 1988. She was the daughter of an accountant and a warehouse supervisor, Monica and Ronald Fenty, respectively. Hailing from a working-class family, Rihanna's early life was marked by struggles that would ultimately shape her into the powerhouse performer we know today. From an early age, it was evident that Rihanna possessed a natural talent for singing and performing. With dedication and hard work, she would go on to conquer the music industry and redefine what it means to be a global icon. But it all began with the humble roots of a small island girl with big dreams.
Rihanna’s Business Career
Rihanna is a multi-talented artist who has made a name for herself in the entertainment industry. However, her creativity and entrepreneurial spirit have also led her to venture into the world of business.
In 2011, she launched her first fragrance, Reb'l Fleur, which was a huge financial success, grossing an estimated US$80 million at retail by the end of the year. This success was followed by the launch of her second, third, and fourth fragrances, which were equally well-received. Rihanna didn't stop there, though. In 2015, she co-founded a beauty and stylist agency called Fr8me, and in 2017, she launched her cosmetics company Fenty Beauty which she co-owns with French luxury conglomerate LVMH, which has become a game-changer in the industry with its inclusive range of products for different skin tones.
Rihanna’s Fenty Beauty has proven to be a massive sensation in the beauty industry, surpassing expectations and setting the bar for other industry giants. Forbes reported that in 2020, Fenty Beauty earned over $550 million in revenue, and it seems that the company shows no sign of stopping. LVMH's recent earnings report reveals that Fenty Beauty's revenue doubled in 2022, an impressive feat that is a testament to the brand's innovative products and wider distribution network. With such a strong performance, it is no secret that Fenty Beauty is one of the most influential brands in the beauty market, and Rihanna is certainly a force to be reckoned with.
While her cosmetics line, Fenty Beauty, has been a huge success since its launch, Rihanna has also ventured into other partnerships and business ventures that have equally contributed to her impressive wealth. One of these is her stake in Savage x Fenty, a lingerie line that has been making waves in the fashion industry and is said to have a valuation of over $3 billion. Additionally, Rihanna is also a part owner of Tidal, a music-streaming service led by hip-hop mogul Jay-Z.
Rihanna, the multi-talented musician and fashion icon, made a major splash in the athletic apparel industry in 2014 when she teamed up with Puma. She quickly became the brand's global ambassador and creative director and wasted no time in launching her own line of footwear and apparel, Fenty x Puma. The collaboration was a massive success, with the line's edgy designs and unique streetwear-inspired looks taking the fashion world by storm. Rihanna's creative vision and passion for pushing the boundaries of style and fashion made her the perfect partner for Puma and solidified her status as a true fashion powerhouse.
Rihanna's business career has proven to be just as impressive as her music career, and fans can't wait to see what she ventures into next. With these successful business ventures under her belt, Rihanna continues to cement her status as a savvy businesswoman and role model for many aspiring entrepreneurs.