Rihanna is making her debut — on Forbes list of the world’s most prestigious billionaires,
The singer turned entrepreneur, who ranks 1,729 (out of 2,668) with a net worth of $1.7 billion, first achieved billionaire status in August. She is the first billionaire of her home country Barbados.
The annual report, which includes fellow musicians Jay-Z ($1.4 billion) and Kanye West ($2 billion), as well as producers and entertainers Kim Kardashian ($1.8 billion), Steven Spielberg ($3.7 billion), Tyler Perry ($ 1 billion) and newcomers. Peter Jackson ($1.5 billion) credits the success of Rihanna’s cosmetics line Fenty Beauty with his lingerie company, Savage x Fenty.
Allegedly Savage x Fenty eye on ipo According to Bloomberg, it will be valued at $3 billion. There could be a listing as soon as this year.
The four-year-old fashion brand, which has expanded to brick-and-mortar with five locations throughout California and Las Vegas, picked up $125 million during January funding round, Rihanna has a 30% ownership stake, Forbes Estimates,
Although many know Rihanna for her music — from the hit singles “Umbrella” and “Where’ve You Been” to “We Found Love” and “Work” — the pop star actually earned her income through Savage x Fenty. obtained a large share of Fast growing cosmetics line.
Forbes said Fenty Beauty, which was launched in 2017, has contributed the most to the singer’s wealth — an estimated $1.4 billion.
The makeup company gained immediate fame for being inclusive of all skin tones, generating over $550 million in annual revenue in its first calendar year. At the time, Fenty Beauty was one of the first (and most notable) brands to offer a variety of foundation shades, and was especially popular among women of color.
The brand, currently sold online and at Sephora locations nationwide, is a 50-50 joint venture between Rihanna and fashion powerhouse LVMH (LVMH).LVMUY) – the group behind luxury brands such as Christian Dior and Louis Vuitton.
Hollywood to Wall Street
In recent years, there has been an explosion of celebrity beauty brands. Kim Kardashian, kylie jenner, Jessica Alba, Lady GagaAnd Scarlett Johansson All put their names behind the big makeup and skincare lines.
However, according to Forbes, Rihanna is the wealthiest in the A-list pack.
The 34-year-old’s success tells the larger story of female entrepreneurs, especially within Hollywood.
Last year, Oscar-winning actress Reese Witherspoon struck a deal to sell her production house Hello Sunshine to the Blackstone-backed media company. the new York Times Said the deal valued Hello Sunshine at approximately $900 million.
Earlier, Honest Company (hsnt) – the lifestyle brand founded by Jessica Alba – went public on Nasdaq in early May 2021. share Sold for $16 in its initial public offering and closed at $23 per share on its first day of tradingProvides the company with a market value of approximately $2.1 billion.
The shares, however, have declined 42% year-over-year with the stock. The company is now valued at just under $432 million.
Recently, Kim Kardashian made headlines after revealing her advice to women in business.
“The best advice I have for women in business,” said Kardashian DiversityUsing salty language to ask women to “Get up…get up and work. It seems no one wants to work these days.”
Her words sparked a reaction on Twitter, with many users noting Kardashian’s privileged background.
Still, the reality TV superstar has been on top multi-million dollar business,
The Kardashians, who jumped 1,000 places on this year’s billionaires list from last year, were officially declared billionaire This past April, thanks to her lucrative makeup brand KKW Beauty and loungewear company Skims, the addition of extra cash from her reality series “Keeping Up With the Kardashians” and endorsement deals.
According to Forbes, his current net worth is $1.8 billion.
The icon’s upcoming reality series “The Kardashians” airs April 14 on Hulu (district,
Alexandra is Senior Entertainment and Food Reporter at Yahoo Finance. follow him on twitter @alliecanal8193
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