The R&B songstress parlayed success in the singles charts into a huge make-up and fashion empire, with earnings that now dwarf those of other music megastars like Madonna and Beyonce.
The Barbados-born Robyn Rihanna Fenty exploded onto the scene in 2005, and logged global hits like “We Found Love” and “Umbrella”, a collaboration with Jay-Z. But while downloads and tour tickets have contributed to her wealth, it is her business ventures that has rocketed her into the ranks of the uber-wealthy.
Forbes, which regularly compiles lists of the world’s richest people, said it estimated around $1.4 billion of her nest egg comes from the value of cosmetics company Fenty Beauty, a partnership with French fashion giant LVMH.
Fenty Beauty, which launched in 2017 with the goal of promoting inclusivity, produces make-up to match dozens of different skin tones. Rihanna’s lingerie company, Savage x Fenty, also contributes to her net worth pegging at $270 million.
Forbes attributes Fenty Beauty’s success not only to its celebrity founder but also its uniquely diverse product line, with a foundation available in 50 different skin tones for women of color.
The 50-50 joint venture with French luxury conglomerate LVMH, which also owns makeup retailer Sephora, Fenty Beauty was reportedly racking in $550 million during its first calendar year in 2018, beating out other celebrity lines like Kylie Jenner’s Kylie Cosmetics and Kim Kardashian West’s KKW Beauty. Cosmetics sales have bounced back from their pandemic lows and are only expected to increase in the coming year.
The singer’s fashion and accessory house Fenty proved to be much less profitable: Launched in 2019, Fenty was confirmed to have been shut down by Rihanna and LVMH in February due to low sales during the pandemic.
Although she has not produced an album since 2016, Rihanna still holds sway over legions of fans, with more than 100 million followers on Instagram and Twitter. Her last album, Anti, came out in 2016, prior to her major brand expansions. “She is creating a brand outside of herself,” consumer goods consultant Shannon Coyne told Forbes. “It’s not just about Rihanna.”
