Rihanna Is Now Officially a Billionaire
The founder of Fenty, Fenty Beauty and Savage x Fenty now joins the elusive billionaire club.
The post Rihanna Is Now Officially a Billionaire appeared first on LUXUO.
Celebrity entrepreneur Rihanna is officially a billionaire. The founder of Fenty and Fenty Beauty has a net worth of US$1.7 billion. With this new valuation, she is now the wealthiest female musician while trailing behind Oprah Winfrey as the second richest entertainer.Â
An estimated US$1.4 billion of her wealth is attributed to her highly successful beauty company, Fenty Beauty, which charted a new norm in the industry, according to Forbes. The celebrated brand is lauded for offering the widest selection of shades. The Pro Filt’R foundation was launched in 2017 and is now the gold standard when it comes to inclusivity across skin tones and gender in the beauty industry.
READ MORE: Top 10 Richest Women in the World
The beauty brand was a joint venture with LVMH where both Rihanna and the French luxury conglomerate each hold a 50 per cent stake in the business. Fenty Beauty products are available online and in stores at Sephora (which is also owned by LVMH), and it was reported that the beauty line raked in more than US$550 million a year after launch. Competitors from other celebrity-fronted brands such as Kylie Jenner?s Kylie Cosmetics and Kim Kardashian West?s KKW Beauty pale in comparison to Rihanna?s brand. Forbes estimates that Fenty Beauty is worth US$2.8 billion.
The remaining...
The post Rihanna Is Now Officially a Billionaire appeared first on LUXUO.
Celebrity entrepreneur Rihanna is officially a billionaire. The founder of Fenty and Fenty Beauty has a net worth of US$1.7 billion. With this new valuation, she is now the wealthiest female musician while trailing behind Oprah Winfrey as the second richest entertainer.Â
An estimated US$1.4 billion of her wealth is attributed to her highly successful beauty company, Fenty Beauty, which charted a new norm in the industry, according to Forbes. The celebrated brand is lauded for offering the widest selection of shades. The Pro Filt’R foundation was launched in 2017 and is now the gold standard when it comes to inclusivity across skin tones and gender in the beauty industry.
READ MORE: Top 10 Richest Women in the World
The beauty brand was a joint venture with LVMH where both Rihanna and the French luxury conglomerate each hold a 50 per cent stake in the business. Fenty Beauty products are available online and in stores at Sephora (which is also owned by LVMH), and it was reported that the beauty line raked in more than US$550 million a year after launch. Competitors from other celebrity-fronted brands such as Kylie Jenner?s Kylie Cosmetics and Kim Kardashian West?s KKW Beauty pale in comparison to Rihanna?s brand. Forbes estimates that Fenty Beauty is worth US$2.8 billion.
The remaining...
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