Rihanna Is Officially a Billionaire
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Rihanna has officially entered the billionaires club.
On Wednesday, Forbes announced that the singer is now estimated to be worth $1.7 billion, making her the richest female musician in the world. Despite her eight Platinum record-breaking albums, the singer's most pivotal earnings are derived from her makeup line, Fenty Beauty, which launched in 2017. The brand currently boasts an estimated net worth of $2.8 billion, and has surpassed annual revenues of other celebrity powerhouse beauty brands, including Kylie Jenner's Kylie Cosmetics and Kim Kardashian's KKW Beauty, within its first year.
Fenty Beauty's enormous success has largely been due to its unprecedented inclusivity, reportedly offering a record-breaking number of 40 shades across various skin colors and types that have significantly increased accessibility to consumers. “A lot of women felt there were no [makeup] lines out there that catered to their skin tone. It was light, medium, medium dark, dark—we all know that’s not reality," Bluestock Advisors cofounder of consumer products Shannon Coyne reportedly told Forbes. "She was one of the first brands that came out and said, ‘I want to speak to all of those different people.’”
The singer has also seen enormous success in her other brands in the following years. In 2018, she released Savage x Fenty, a lingerie line and joint venture with TechStyle Fashion Group that has since reached a valuation of $1 billion, Forbes estimates. Riding the momentum of her two thriving Fenty brands, the mogul also later launched Fenty Skin in July—and the brand has already been off to a "very promising start," according to LVMH's annual 2020 report.
In between juggling her booming beauty, skin, and lingerie lines, the mogul is additionally still carving out time for new music. Earlier this year, while celebrating the fifth anniversary of her last album, Anti, she seemingly teased that a new song was on the way "soon."
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