Rihanna continues being the baddest in the game, locking down an additional $50 million from investors for her Savage X Fenty lingerie line.
The Wall Street Journal reported, Rihanna’s business was able to secure the new investments following a strong first year.
The company already had $20 million stacked from investors, bringing its new total to $70 million.
The new cash comes from Jay-Z’s venture firm Marcy Venture Partners LLC along with “growth-equity firm Avenir Growth Capital”. Rihanna reportedly also invested millions of her own money into the brand.
Savage X Fenty was released as a joint venture between Rihanna and a “venture-backed fashion platform Techstyle Fashion Group”
Savage X Fenty recently announced a partnership with Amazon Prime to live stream their fashion show on September 20.
They announced it on social media, “We nevah say no to a leopard print moment, especially when @badgalriri shows us what’s what P.S. Do you want to shop the #SAVAGEXFENTYSHOW while you watch it on @amazonprimevideo? Of course you do, sis! We’re not droppin’ an #XtraVIP box tomorrow cuz the hype is real. We droppin’ not one, but TWO Xtra VIP boxes - curated by Rihanna - for New York Fashion Week. We want you to be fresh off that runway! #UXTRA
Rihanna has a lot to be happy about after Forbes named her the wealthiest female musician in the world. She has amassed an estimated $600 million fortune and surpassed Madonna ($570 million) and Beyoncé ($400 million).
The music mogul also recently launched her own fashion house, Fenty, her Fenty Beauty line continues to sell out, has ownership in her lingerie line, and her music royalties keep coming in (even though fans do keep harassing her for new music).
She is also still dating her billionaire boyfriend, Hassan Jameel.