Fenty's Fortune: Rihanna Is Now Officially A Billionaire

The story of how the singer became the most successful female musician on the earth. It wasn't performing.Madeline BergRobyn Fenty (known to the world by the name Rihanna) launched Fenty Beauty in 2017. She wanted to create a beauty company that would make women feel included.Forbes estimates that Rihanna is worth $1.7 billion. She is the richest female entertainer and the second-richest female singer in the world, after Oprah Winfrey. It's not her music that has made her so rich. Forbes can confirm that she holds 50% of Fenty Beauty's value, which is estimated to be $1.4 billion. The rest of her fortune is largely due to her share in Savage x Fenty lingerie, which is valued at $270 million. Also, her earnings as an actress and chart-topping singer.Rihanna, a Barbados-born singer, is not the only one to make use of her social media platform. She has 101 million Instagram followers and 102.5 millions on Twitter to build a beauty brand. Fenty Beauty is a joint venture of LVMH and Fenty Beauty. It was founded in 2017 by Bernard Arnault (the world's second-richest person) with the aim to promote inclusion. The products are available in a variety of colors, including hard-to-find shades for women of color.The products were immediately popular and available online as well as at Sephora stores which are also owned LVMH. The line had already achieved more than $550million in annual revenue by 2018, according to LVMH. This beat out other celebrity-founded brands such as Kylie Jenners Kylie Cosmetics, Kim KardashianWests KKW Beauty, and Jessica Albas Honest Company.Many women felt that there weren't any lines that suited their skin tones. It was medium, medium dark, light, medium dark, and dark," says Shannon Coyne (cofounder of Bluestock Advisors, a consumer products consultancy). It's not true, as we all know. She was among the first to come out with a brand and stated that she wanted to talk to all those people.A$AP Rocky and Rihanna (R), are seen filming in the Bronx, New York City on July 11, 2021. Raymond Hall/GC ImagesAlthough cosmetics sales declined during the pandemics, beauty companies remain valuable. The stock prices of large beauty conglomerates such as Estee Lauder or L'Oreal have rebounded and now trade at an impressive 7.5 times annual revenue. Independent brands such as Beautycounter and Charlotte Tilbury signed deals with investment firms in the first quarter of this year, at billion-dollar valuations.This is great news for Rihanna. Forbes estimates that Fenty Beauty's value is $2.8 billion due to the high multiples of beauty companies trading. All indications point to continued growth. LVMH stated that Fenty Skin launched last year and had generated a lot of buzz. Fenty Beauty also "maintained its popularity as a top-selling make up brand."Fenty Beauty is not Rihanna's only billion-dollar business. Her lingerie brand Savage x Fenty received $115 million in funding in February at a valuation of $1 billion. Blue-chip investors such as Jay-Zs Marcy Venture Partners, private equity firm L. Catterton, and Bernard Arnault are among the shareholders of the company. It was launched in 2018 as a joint venture between TechStyle Fashion Group and TechStyle Fashion Group. Rihanna maintains a 30% ownership stake, Forbes estimates. According to Forbes, the latest round of funding will be used to expand retail and customer acquisition.Rihanna's touch doesn't always turn to gold. Forbes received a statement from LVMH in February confirming that Rihanna and Rihanna had closed down Fenty, their other venture. Fenty was launched in 2019 and aimed to expand Rihanna's inclusive brand by offering styles in a variety of sizes. The pandemic caused financial difficulties for Fenty, which released its final collection in November 2020.One complaint fans might have is her career as a fashion mogul and beauty mogul. It keeps her busy. Since 2016, Anti, the singer has not released an album.This may be fine from a financial standpoint. She is building a brand that is not her own. Consultant Coyne says it's not about Rihanna. Even if her music is not your favorite, you can still appreciate her style in the fashion- and beauty industry.