Forbes has now crowned Rihanna (real name: Robin Fenty) the youngest self-made billionaire, confirming once and for all that bitches did indeed have her money.
From humble beginnings in Saint Michael, Barbados to the headquarters of LVMH, the nine-time Grammy Award winner has amassed a three-comma fortune at just 34 years of age thanks to her best-selling Fenty brands — one of which is co-owned by Bernard Arnault’s powerhouse luxury conglomerate:
- Fenty (Fashion House)
While the high-fashion line didn’t progress as well as she or LVMH had hoped, halting operations around the same time Savage x Fenty took off, there was still some coin to be seen here. - Fenty Beauty (Cosmetics)
Fenty Beauty generated over US$550 million / AU$805 million worth of revenue back in 2020 with a total valuation of approximately US$2.8 billion / AU$4.1 billion. 50% of the entire business belongs to Rihanna. The other 50% belongs to LVMH via Kendo. - Fenty Skin (Skin Care)
Fenty Skin was launched to supplement Fenty Beauty. - Savage x Fenty (Lingerie)
Savage x Fenty achieved a total valuation of US$1 billion / AU$1.46 billion back in early 2021. This year, Bloomberg indicated an IPO was on the horizon which could potentially revise this figure to US$3 billion / AU$4.4 billion. 30% belongs to Rihanna.
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So what’s it all for? Aside from giving her an excuse not to drop the album a la Frank Ocean.
“My money is not for me, it’s always the thought that I can help someone else,” Rihanna has previously explained.
“The world can really make you believe that the wrong things are a priority and it makes you really miss the core of life, what it means to be alive.”
In 2012, Rihanna established a philanthropy fund known as the Clara Lionel Foundation (CLF). According to its mission statement, the CLF’s objective is to “support and fund groundbreaking education and climate resilience initiatives.”
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One of its first initiatives raised US$60 million / AU$88 million for women and children impacted by HIV/AIDS through sales from her lipstick collaboration with MAC Cosmetics. More recently, the CLF teamed up with Twitter co-founder Jack Dorsey’s #SmartSmall initiative to distribute US$15 million / AU$22 million across 18 different climate justice groups.
With a considerable net worth of US$1.4 billion / AU$2 billion, Rihanna has effectively dwarfed the likes of Bumble Founder & CEO Whitney Wolfe Herd (32 years old | US$740 million / AU$1 billion), fellow chart-topper Taylor Swift (32 years old | US$570 million / AU$834.6 million), and Kylie Jenner (24 years old | US$600 million / AU$878.5 million); the latter of whom you may recall was stripped of the youngest self-made billionaire woman by Forbes almost immediately after receiving it.
Check out the Forbes rankings here.