It’s official: After years of work, work, work, work, work, Rihanna has joined the billionaire’s club. In August 2021, Forbes announced that the hitmaker’s net worth was estimated at $1.7 billion, making her the “wealthiest female musician in the world.”
The only female entertainer valued higher than Rihanna at the time was Oprah Winfrey, which is not a bad company. This is definitely a couch we would jump on. In addition to making money, Rihanna has no problem giving it away. The philanthropic celebrity is known for her generosity, including her $5 million donation in 2020 to help those affected by COVID-19. Since 2012, she has donated and helped raise millions with her Clara Lionel Foundation. Named after her grandparents, Rihanna’s foundation continues to support efforts around the world for education and emergency relief.
But while most of Rihanna’s wealth comes from her incredibly successful and inclusive Fenty Beauty line, that’s not the only factor at play in her billion-dollar empire. The Barbados-born singer has been diversifying her portfolio and honing her efforts as a businesswoman for more than a decade, all of which has helped her reach a point in her career where the launch of Fenty Beauty was possible.
Ultimately, Rihanna’s global appeal, her ability to anticipate future cultural changes, and her astute entrepreneurial mind have contributed to the multi-hyphenate’s incredible wealth and success.
Fenty Beauty By Rihanna Makes Everyone Gorgeous
While there’s no denying that Rihanna has done an incredible job of dipping her toes into different markets, the biggest prop for her bank account is Fenty Beauty. The “SOS” hitmaker launched the makeup line in 2017 and quickly appeared destined to surpass some of her biggest competitors, including the highly successful Kylie Cosmetics. By the end of its first month on the market, Fenty Beauty reported that it had “recorded $72 million in earned media value,” according to People, which included the value gained from audience engagement on social media sites like Facebook, Twitter, Instagram and YouTube.
Fenty Beauty also earned praise early on due to its inclusivity, which for the beauty brand meant launching with 40 shades of foundation to ensure all customers could find makeup that matched their skin tone. In just over a month on the market, Fenty Beauty’s affordable prices and wide range of colors were such a hit with consumers that the brand earned a coveted spot on Time’s “Genius Companies” list and earned $100 million.
According to Forbes, the beauty company was valued at $2.8 billion in August 2021, with Rihanna, who owns more than 50 percent of the company, taking home about $1.4 billion of those beauty dollars. The previous year, Rihanna launched the affordable, vegan skincare line, Fenty Skin, to complement her beauty line. Considering the massive success of Fenty Beauty, it’s fair to say that the latest addition to the Fenty line will allow RiRi to sit back and watch the dollars stack up in the future.