When Robyn Fenty, known to the planet as Rihanna, launched Fenty Beauty in 2017, she sought to make a cosmetics company that made “women everywhere (feel) included.” A perhaps unintended consequence: the sweetness line has helped her enter one among the world’s most exclusive ranks: Billionaire. Rihanna is now worth $1.7 billion, Forbes estimates—making her the wealthiest female musician within the world and second only to Oprah Winfrey because of the richest female entertainer. But it’s not her music that’s made her so wealthy. the majority of her fortune (an estimated $1.4 billion) comes from the worth of Fenty Beauty, of which Forbes can now confirm she owns 50%. Much of the remainder lies in her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress.
While Barbados-born Rihanna isn’t the sole celebrity to maximize her social media presence—she has 101 million followers on Instagram and 102.5 million on Twitter—to build a beauty brand, she is that the most successful beauty entrepreneur to try to do so. Fenty Beauty, which may be a 50-50 venture with French luxury goods conglomerate LVMH (run by Bernard Arnault, the world’s second-richest person), launched in 2017 with the goal of inclusivity. Its products are available in a various range of colors—the foundation is obtainable in 50 shades, including harder-to-find darker shades for ladies of color—and are modeled in its advertising by an equally diverse group of individuals.
Available online and at Sephora stores, which also are owned by LVMH, the products were a moment’s success. By 2018, its first full civil year, the road was bringing in additional than $550 million in annual revenues, consistent with LVMH, beating out other celebrity-founded brands like Kylie Jenner’s Kylie Cosmetics, Kim Kardashian West’s KKW Beauty, and Jessica Alba’s Honest Co.
“A lot of girls felt there have been no lines out there that catered to their skin tone. it had been light, medium, medium-dark, dark,” says Shannon Coyne, co-founder of consumer products consultancy Bluestock Advisors. “We all know that’s not reality. She was one among the primary brands that came out and said, ‘I want to talk to all or any of these different people.’” While cosmetics sales slowed during the pandemic, beauty companies are worth the maximum amount as ever. Stocks of larger beauty conglomerates like Estée Lauder and L’Oréal have bounced back, reaching all-time highs and trading at impressive 7.5 (or more) times annual revenues. Meanwhile, independent brands like Beautycounter and Charlotte Tilbury inked deals with investment firms earlier this year at billion-dollar valuations.
That is excellent news for Rihanna. because of the impressive multiples at which beauty companies are trading, Fenty Beauty is worth a conservative $2.8 billion, Forbes estimates. and everyone’s signs point to the corporate continuing to grow. In its annual report for 2020, LVMH said Fenty Skin, which launched last year, was off to a “very promising start” and “generated unprecedented buzz,” which Fenty Beauty “maintained its appeal as a premier makeup brand.” Fenty Beauty isn’t Rihanna’s only billion-dollar brand. In February her lingerie line Savage x Fenty raised $115 million in funding at a $1 billion valuation. the corporate, which launched in 2018 as a venture with TechStyle Fashion Group, counts blue-chip investors like Jay-Z’s Marcy Venture Partners and personal equity firm L. Catterton (in which Bernard Arnault is an investor) as shareholders. Rihanna maintains a 30% ownership stake, Forbes estimates. the newest round of funding will reportedly be used for customer acquisition and retail expansion.
Not that everything Rihanna touches turns to gold. In February, LVMH and Rihanna confirmed during a statement to Forbes that they had packed up their other venture, a high-end fashion and accessories house also called Fenty. Launched in 2019, Fenty sought to increase Rihanna’s brand of inclusivity and offer styles during a range of sizes. But like many luxury fashion brands, the high-priced line suffered during the pandemic, releasing its last collection in November 2020.
The only complaint some fans may have about her career as a fashion and wonder mogul? It keeps her busy. The singer, who wont to release an album almost per annum, hasn’t released a replacement album since 2016’s Anti. From a financial perspective, which will be just fine: “She is creating a brand outside of herself. It’s not almost Rihanna,” says consultant Coyne. “Even if you do not like her music, she’s created a true style within the fashion and wonder space.”