Friday, September 17, 2021

Rihanna Reaches Billionaire Status Thanks to Fenty Beauty

RIHANNA IN BLACK

*Rihanna has reportedly reached billionaire status thanks largely to her Fenty Beauty line, which she launched in 2017.

According to Forbes, the 33-year-old singer/entrepreneur amassed her estimated $1.7 billion net worth via Fenty Beauty profits. She is now the second-richest woman in entertainment behind Oprah Winfrey.

The publication writes: The bulk of her fortune (an estimated $1.4 billion) comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50%. Much of the rest lies in her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress.

The Forbes article goes on to note: By 2018, its first full calendar year, the line was bringing in more than $550 million in annual revenues, according to LVMH, beating out other celebrity-founded brands like Kylie Jenner’s Kylie Cosmetics, Kim Kardashian West’s KKW Beauty and Jessica Alba’s Honest Co.

READ MORE: Rihanna is Renting Out Her Beverly Hills Mansion for $80,000 a Month

rihanna-fenty

“A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark. We all know that’s not reality. She was one of the first brands that came out and said ‘I want to speak to all of those different people,'” Shannon Coyne, cofounder of Bluestock Advisors, told Forbes of Rihanna’s impact on the beauty business. “She is creating a brand outside of herself. It’s not just about Rihanna. Even if you don’t like her music, she’s created a real style in the fashion and beauty space.”

Meanwhile, Rihanna recently teased the forthcoming launch of Fenty’s first fragrance.

On her Instagram Story, she shared a video of a perfume bottle with the caption “something sensual, confident yet sexxy ✨ coming your way very soon.”

In March, RiRi filed a trademark for a line of hair care products under the name of Fenty Hair.

In the meantime, Rihanna’s fans have been calling for new music following her last full-length LP “Anti,” which dropped in 2016.

“I can’t say when I’m going to drop,” she told Vogue in 2020 of her ninth studio album. “But I am very aggressively working on music.”

Ny MaGee
Ny MaGee is a screenwriter and freelance reporter from Chicago -- currently living in Los Angeles and covering A-list entertainment for various outlets, including Emmys.com. She has worked for: Miramax, MTV & VH1, The Jim Henson Company, Hallmark Channel, Paramount Pictures, and for iconic indie film producer Roger Corman.

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