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According to Forbes, Rihanna is now worth $ 1.7 billion.
Even though the mogul, philanthropist and artist made her debut in the music business – sparking countless successes over the past fifteen years – her Fenty Empire is what really helped RiRi realize her billionaire bag.
The media reports that she is now “the richest musician in the world and second behind Oprah Winfrey as the richest female artist”.
“Most of his fortune (around $ 1.4 billion) comes from the value of Fenty Beauty, of which Forbes can now confirm that it holds 50%, ”details the recent announcement. “Much of the rest is her stake in her lingerie company, Savage x Fenty, which is estimated to be worth $ 270 million, and her earnings from her career as a chart-topping musician and actress.”
LVMH, a French luxury goods company, has been instrumental in helping Rihanna rise to the top. If you didn’t know, the conglomerate owns the remaining 50% of Fenty Beauty, which launched in 2017.
Less than a year after its inception, the French company said that Fenty Beauty had annual sales of more than $ 550 million, “ahead of other celebrity-founded brands like Kylie Jenner’s Kylie Cosmetics, Kim Kardashian West’s KKW Beauty and Jessica Alba’s Honest Company, “According to Forbes.
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The store estimates that Fenty Beauty is worth $ 2.8 billion. In its annual report, LVMH wrote that Fenty Skin – which launched last year – has had a “very promising start”.
Notably, the star’s high-end fashion and accessories line, Fenty, was shut down in February. Launched in 2019, it was another business venture the music mogul has collaborated on with LVMH. He tried to disrupt the luxury market with his fashion including waist – in the same way Rihanna disrupted the beauty space with Fenty Beauty’s diverse shade range – but the clothing line sadly “suffered during the pandemic. And released its final collection last November. .
After giving the world Savage x Fenty in 2018, a brand in which Rihanna owns a 30% stake and shares with TechStyle Fashion Group and various shareholders, the lingerie line is now valued at $ 1 billion and “has raised $ 115 million. funding dollars’ in recent years. February.
Forbes noted that the new funding “would be used for customer acquisition and retail expansion.”
It’s all said and done, though RiRi fans are still eager to hear her new album – years after her 2016 project released. Anti – Rihanna clearly does not intend to stop developing her empire on the business side. Like MADAMENOIRE previously reported, the singer has a Caribbean cookbook, Fenty Hair, and a Fenty fragrance on the way.
Congratulations to her.