How Rihanna Became The Youngest American Self-Made Billionaire
Robyn Rihanna is the youngest self-made female billionaire in America. The 34-year-old singer and entrepreneur have through her work ethic and unquestionable talent cemented her place in history.
Her success is closely linked to her booming cosmetics line, Fenty Beauty, her creative lingerie line, SavageX Fenty and her music career. The new development brings Rihanna’s steadfast dedication to her craft to the fore. Also, worthy of note is her unique ability to identify and focus on emerging opportunities in the fashion market.
According to Forbes, Rihanna’s net worth stands at $1.4 billion. She launched Fenty Beauty in 2017 and went ahead to launch Savage X Fenty in 2018. It is pertinent to say that Rihanna’s music career has fetched her a lot of money, as her albums and tours generate millions of dollars. Let’s examine in detail the assets that helped Rihanna achieve the youngest American self-made billionaire status:
Rihanna and Fenty Beauty
After its 2017 launch, Fenty Beauty became a global phenomenon. Fenty Beauty started off as a partner with LVMH. Its products are available on Sephora shelves and online in over 150 countries, with 2020 revenue exceeding $550 million. In 2022, Fenty Beauty expanded its business to eight African countries as part of plans to capitalise on opportunities in the continent. Some of them include Nigeria, South Africa, Botswana, and Kenya. Rihanna’s stake in the cosmetics company is worth $1.1 billion.
Savage x Fenty
Rihanna’s stake in her lingerie line Savage x Fenty is worth $270 million. The brand in February 2021 raised $125 million in a funding round led by Neuberg Berman. This fund valued the company at $1 billion. The self-made youngest American billionaire also owns 30 -per cent of Savage x Fenty, which partners with TechStyle Fashion Group.
Rihanna’s music and acting career
Rihanna’s songs and acts have also generated a huge amount of wealth for her. The 34-year-old has recorded a great level of success in her music and acting. From all indications the young billionaire is not settling for less, as reports suggest she would be expanding her Fenty brand in the coming days.
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