Fenty Fortune: Rihanna is now officially a billionaire

Artist Rihana becomes the second richest in the world show business (Photo: Fashionista)
Artist Rihana turns into the second richest on the planet present enterprise (Photo: Fashionista)

When Robyn Fenty, recognized worldwide as Rihanna, launched Fenty Beauty in 2017, she sought to create a cosmetics firm that made “women feel included anywhere.” This resulted in an unexpected consequence: the wonder line helped the singer to enter essentially the most unique membership on the planet: that of billionaires.

Rihanna is now price greater than $1.7 billion, in line with Forbes’ estimate —turning into the richest singer on the planet and behind oprah winfrey because the richest in present enterprise. But it wasn’t the music that made her so wealthy. The bulk of his fortune (about $1.4 billion) comes from the worth of Fenty Beauty, which Forbes confirms is 50% of it. The relaxation comes from her lingerie firm, Savage x Fenty, estimated at $270 million, and from her billing as a singer and actress.

While the Barbados native is not the one celeb to capitalize on her media presence —she has 101 million followers on Instagram and 102.5 million on Twitter—to discovered a magnificence model, she’s essentially the most profitable magnificence businesswoman. Fenty Beauty, a companion equally divided with french luxurious items conglomerate LVMH (run by Bernard Arnault, the second richest man on the planet), was launched in 2017 with the discourse of inclusiveness. Its merchandise come from a various vary of colours – the bottom is obtainable in 50 shades, together with darker shades tougher to search out for girls of colour – and are modeled on their promoting by an equally numerous group of individuals.

Available on-line and in Sephora shops, which additionally belong to the LVMH conglomerate, the merchandise have grow to be quick success. In 2018, in its first full calendar yr, the road was yielding greater than $550 million in annual revenues, in line with LVMH, surpassing manufacturers based by celebrities reminiscent of Kylie Cosmetics of Kylie Jenner; Kim Kardashian West’s KKW Beauty and Jessica Alba’s Honest Co.