Rihanna Is Now Worth $1.4 billion, Making Her America’s Youngest Self-Made Billionaire
Rihanna is now the youngest self-made billionaire woman in the US!
According to reports, the 34-year old singer turned mogul has taken the #1 spot and is now the youngest female self-made billionaire in the U.S.–knocking Kim Kardashian, 41, down to second place.
Rihanna graced Forbes’ annual list of America’s richest self-made women for the third year in a row, ranking at #21 and making her the only billionaire under the age of 40 on the list. The “Umbrella” singers net worth is now $1.4 billion, thanks largely to her stakes in Fenty Beauty as well as her Savage X Fenty lingerie line. According to Forbes, her Fenty Beauty line “generated more than $550 million in revenue in 2020.”
In March, Bloomberg reported Savage X Fenty lingerie was working with advisors on an IPO that could potentially be valued at $3 billion. Rihanna owns 30% of that company. Since its launch in 2018, the brand has gained a large following. Most supporters and consumers admire the fact that the company is all-inclusive. Unlike several traditional brands, Savage X Fenty retails sizes from XS to 4XL.
The nine-time Grammy Award winner also owns 50 percent of Fenty Beauty, which launched in 2017. The other half of the company is owned by French luxury fashion conglomerate LVMH.
While the numbers are impressive, Rihanna has said that her focus isn’t on valuations and accolades but more so helping others and finding ways to give back. In 2019, she told The New York Times that because she never planned on making a fortune, reaching financial milestones was “not going to stop me from working.”
The “Love On The Brain” singer also said she wants to give that money away to causes that matter. She explained,
“My money is not for me; it’s always the thought that I can help someone else. 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.”
As previously reported, Rihanna launched her own non profit organization in 2012–the Clara Lionel Foundation–which funds climate resilience and justice projects in the U.S and Caribbean. Throughout the Covid-19 pandemic, RiRi’s foundation has donated $5 million to several organizations such as Direct Relief, Feeding America, and WHO in order to provide additional support and resources for on-the-ground partners and front line workers. The organization aims to
“support and fund groundbreaking education and climate resilience initiatives.”
Congratulations to Rihanna!
What are your thoughts? Let us know in the comments below!