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Rihanna Is Now Youngest Self-Made Billionaire In The U.S.
The Rihanna reign continues.
Rihanna‘s beauty and music empire continue to elevate her history-making success. The Fenty boss has just been listed as the youngest self-made billionaire in the U.S. Forbes just dropped its annual list of ‘America’s Self-Made Women, showing her status among the 100 richest women in the country.
[SEE ALSO: Rihanna May Soon Be Offering Virtual Fenty Beauty & Hair Products]
Last year, Rihanna made headlines for reaching billionaire status as the world’s wealthiest musician and the second wealthiest female entertainer (behind Oprah). Now, she is the only billionaire on the list who is under 40, rising above the likes of Kylie Jenner ($600M) and Kim Kardashian ($1.8B).
Rihanna’s coins have held steady from last year, dipping slightly to $1.4B — and they aren’t from her chart-topping music. Her valuation comes primarily from her ground-breaking Fenty Beauty cosmetics line, Savage x Fenty, and Fenty perfume, followed by her music and acting gigs.
Fenty Beauty made waves in 2017 for its inclusive advertising campaign that not just offered 40 (now 50) foundation shades for women, but also put Black women and other marginalized communities front and center. The launch also made carrying 40+ shades a must-have gold standard vs a nice-to-have by for all brands.
And, after widespread talks of her level of ownership in her partnership with LVMH, Forbes confirmed that Rihanna owns 50% of the company. Rihanna is the first Black woman to create an original brand at LVMH and was the first Black woman or WOC to head an LVMH fashion house.
While the Fenty Maison clothing line, which opened in 2019, is now on indefinite hold, Rihanna continues to pull up with new offerings. According to Bloomberg, the singer is working with advisers on an IPO (initial public offering) for the direct-to-consumer lingerie brand, with a current estimated valuation of $3 billion. Savage X Fenty also raised $125 million in its Series C funding round. She opened five brick-and-mortar Savage X Fenty retail locations, with plans for six more.
Fenty Beauty cosmetics are now in Ulta Beauty, the largest beauty retailer in the U.S. And, according to new trademark filings, RiRi is looking to bring her Fenty empire to the metaverse with virtual cosmetics and clothing offerings.
