The Barbadian singer and actress Rihanna was officially declared a billionaire on August 4, 2021, as stated by a profile on her fortune in Forbes. She has had a collection of hits since early 2000s and is now worth $1.7 billion according to the magazine estimates.
Rihanna’s music is not the only reason behind her fortune. She launched Fenty Beauty in 2017 and is one of the wealthiest female musicians in the world. Forbes states that she is in the second position behind Oprah Winfrey. Around $1.4 billion of the singer’s wealth comes from her cosmetics line. She is a 50% owner of the business and has a stake in her lingerie company Savage X Fenty.
She earns more from her music and acting credits. Fenty Beauty is a 50-50 joint venture with French luxury goods conglomerate LVMH. It has various products in different colors and offers almost 50 shades, including the rarest shades. The products received a positive response from the public and the company brought almost $550 million in annual revenues.
On the other hand, Savage X Fenty raised a funding of around $115 million at a $1 billion valuation. The company was launched in 2018 and Rihanna has a 30% ownership stake as mentioned by Forbes.
What is Rihanna networth and how did she acquire it?
Rihanna is one of the most well-known and successful music artists. Her net worth is around $550 million. A huge portion of her net worth can be attributed to the value of the Fenty Beauty company. She signed a contract worth $25 million with Samsung in 2015 to promote their Galaxy products lineup.
Following its launch in 2017, Fenty Beauty generated a revenue of $550 million, and the brand’s total value may have been $1.5 to $2 billion. Rihanna has a 15% ownership and her stake is worth $225 to $300 million and including taxes, it is $112 to $150 million. If her $200 million fortune is included from her recording, endorsements, and concert sales, the 33-year old’s net worth is $350 million.
Rihanna paid $5.545 million for a condo in LA’s Century City neighborhood. She also purchased a home in Hollywood Hills in 2017. Following a break-in after a year, she listed the home for sale at $7.5 million. She is reportedly the owner of a multi-million dollar property in Barbados and paid $13.8 million for a home in Beverly Hills in March 2021.
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