Rihanna has been named on Forbes’ annual billionaire’s list for the first time.
The 34-year-old multi-hyphenate officially reached billionaire status back in 2021 with an estimated net worth of $1.7 billion. Forbes’ Madeline Berg attributed Rihanna’s wealth not to her music outputs, but to her wildly successful ventures into fashion and beauty.
According to the publication’s recent report, RiRi’s stake in her Fenty Beauty—the fastest-growing cosmetics line—makes up the majority of her wealth. The company, which she co-owns with luxury conglomerate LVMH, reportedly racked in more than $550 million in revenue in 2020. She also has a 30 per cent stake in her Savage x Fenty lingerie line, which raised approximately $115 million in series B funding at a $1 billion valuation in early 2021.
Rihanna, who is expecting her first child with ASAP Rocky, is reportedly the first billionaire to come from Barbados. She spoke about the milestone in September 2021 with the New York Times.
It’s tricky because it’s hard to even accept that’s where you’re at because I know where I’ve come from,” she said. “At the same time, it feels good to be able to inspire young women and boys, who like me, come from humble beginnings, who come from parents who are immigrants or who are immigrants themselves, to be able to do this
YOU GO GIRL !!