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Rihanna has officially become the youngest billionaire in the US, having amassed a net worth of $1.4 billion at the age of 34, reports FOXBusiness.
Rihanna has officially become the youngest billionaire in the US, having amassed a net worth of $1.4 billion at the age of 34, reports FOXBusiness.
The Fenty Beauty founder, who has appeared on Forbes’ annual list of America’s richest self-made women for three years running, was ranked No. 21 on this year’s list.
Although Rihanna is not the richest self-made woman in the US, she is the youngest, behind Kim Kardashian, 41, who has a net worth of $1.8 billion, as the second-youngest billionaire on the list. of the year 2022.
According to Forbes, the Barbadian singer is a billionaire due to the success of her cosmetics line, which she owns with French luxury retailer LVMH, and which “generated more than $550 million in revenue in 2020.” .
Rihanna recently made Forbes’ annual list of the richest self-made women in America for the third year in a row, coming in at number 21.
The next youngest billionaire on the Forbes list is Kardashian, 41, who has a net worth of $1.8 billion. Kylie Jenner was crowned Forbes’ youngest billionaire in 2018, only to have the title stripped from her after a recount of her net worth. Her net worth is currently $600 million.
Rihanna’s net worth is $1.4 billion, which is only partly from her successful music career. Most of it comes from her entrepreneurial endeavors, including Fenty Beauty, Fenty Skin, and Savage X Fenty.
In March, Bloomberg reported that underwear company Savage X Fenty was working with advisers on an initial public offering that could value the company at $3 billion or more. Rihanna owns 30 percent of that company.
The Grammy winner also owns 50 percent of Fenty Beauty, which launched in 2017 and brought in $550 million in revenue in 2020. In 2012, the “Love On The Brain” singer started a philanthropic fund called the Clara Lionel Foundation ( CLF), aiming to “support and fund innovative climate resilience and education initiatives,” according to the website.
A year after launching the foundation, the Fenty Beauty CEO held two lipstick campaigns with MAC Cosmetics, raising $60 million to benefit women and children affected by HIV/AIDS.
