Move over, Kim Kardashian. Singer and beauty/fashion mogul Rihanna has now become the youngest self-made billionaire woman based in the U.S. Kardashian has been bumped to second place as the youngest self-made female billionaire.
According to Forbes’ annual list of America’s richest self-made women, the 34-year-old Barbadian singer made a list for the third year in a row, ranking 21st overall. She’s the only billionaire under 40 on the list, The New York Post reported.
Rihanna’s net worth is listed at $1.4 billion.
Kardashian, 41, has a net worth of $1.8 billion.
“I never thought I’d make this much money, so a number is not going to stop me from working,” she told The New York Times in 2019.
Beauty and the Billionaire
Rihanna’s worth derives only partly from her chart-topping music career. But she has pulled in some major bucks as the top-selling digital artist of all time. In 2016, the year she dropped her last studio album, “Anti,” she made an estimated $22.3 million from her music. The accompanying tour also generated more than $110 million in revenue.
However, the nine-time Grammy Award winner’s song catalog is not very lucrative for her, since she has few songwriting credits. On most of her big hits she has only provided the vocals.
Most of Rihanna’s wealth is derived from her entrepreneurial endeavors, including Fenty Beauty and Savage X Fenty.
Savage X Fenty lingerie company, of which Rihanna owns 30 percemt, is currently preparing for an initial public offering that could value the company at $3 billion or more. This is up from the company’s $1 billion valuation in February 2021.
Launched in 2017 and another successful venture for Rihanna, Fenty Beauty is currently worth an estimated $2.8 billion. Rihanna’s “stake in the fast-growing cosmetics company comprises the majority of her fortune,” according to Forbes. When Fenty Beauty cosmetics line debuted it was called revolutionary for featuring over 40 foundation shades, aligning with the company’s inclusive message.
Rihanna owns 50 percent of Fenty Beauty, which had $550 million in revenue in 2020. French luxury fashion conglomerate LVMH owns the other half of the company.
Rihanna Cashes in on Real Estate
Hern impressive real estate portfolio includes a $13.75 million Beverly Hills compound she purchased in 2021. She also owns a neighboring property, which she bought for $10 million Rihanna’s also a landlord, owning a rental property in the Hollywood Hills for which she plopped down $6.8 million in 2017, ABC News reported. She also owns a condominium in LA’s Century Towers and a residence at the exclusive One Sandy Lane resort on her home island of Barbados, which she reportedly picked up for $22 million.