The youngest self-made billionaire woman in the United States didn't grow up in a Manhattan skyscraper or in the Hollywood Hills. Instead, Rihanna amassed her fortune through her own music and entrepreneurial ventures.
Recently, the 34-year-old singer and CEO of Fenty Beauty graced Forbes' annual list of America's richest self-made women for the third year in a row. She ranked 21st overall and is the only billionaire under 40 on the list. Part of Rihanna's $1,4 billion net worth comes from her successful music career. Most come from its three retail businesses: Fenty Beauty, Fenty Skin and Savage X Fenty.
In March, Bloomberg reported that Savage X Fenty lingerie was working with advisers on an IPO that could potentially be valued at $3 billion. Rihanna owns 30% of this company. She also owns half of Fenty Beauty, which generated $550 million in revenue in 2020. The other half of the business is owned by French luxury fashion conglomerate LVMH.
The numbers are impressive, but Rihanna said she's not focused on ratings and praise. In 2019, she told The New York Times' T Magazine that because she never planned on making a fortune, reaching financial milestones "wouldn't keep me from working."
The nine-time Grammy winner also said she wants to donate the money to causes that matter anyway. “My money is not for me; it's always the idea that I can help someone else,” she said. “The world can really trick you into believing that bad things take precedence, and that really makes you miss the core of life, what it means to be alive. »
In 2012, Rihanna launched a philanthropic fund, the Clara Lionel Foundation (FCF). It aims to “support and fund groundbreaking education and climate resilience initiatives,” according to its Website.
One of her first initiatives, launched a year after the foundation began, raised $60 million for women and children affected by HIV/AIDS through sales of the company's lipstick line. singer with MAC Cosmetics. And in January, CWF partnered with Twitter co-founder Jack Dorsey's #SmartSmall initiative to donate a total of $15 million to 18 different climate justice groups.