Rihanna becomes America’s youngest billionaire woman: Forbes

CHENNAI: Popular American singer Rihanna is now worth $1.4 billion, making her America’s youngest self-made billionaire woman, according to Forbes. She amassed her fortune from her own music and entrepreneurial ventures.

Recently, the 34-year-old singer and Fenty Beauty CEO embraced Forbes’ annual list of America’s richest self-made women for the third year in a row. She ranked 21st overall, and is the list’s only billionaire under the age of 40. Some of Rihanna’s $1.4 billion net worth is from her successful music career. Most of it is from her three retail companies: Fenty Beauty, Fenty Skin and Savage X Fenty.

In March, Bloomberg magazine reported that Savage X Fenty lingerie was working with advisors on an IPO that could potentially be valued at $3 billion. Rihanna owns 30% of that company. She also owns half of Fenty Beauty, which generated $550 million in revenue in 2020. The other half of the company is owned by French luxury fashion conglomerate LVMH.

The nine-time Grammy Award winner also said she wants to give that money away to causes that matter, anyway. “My money is not for me; it’s always the thought that I can help someone else,” the founder of the philanthropy fund – Clara Lionel Foundation. “The world can really make you believe that the wrong things are priority, and it makes you really miss the core of life, what it means to be alive,” she added.

The next-youngest billionaire on Forbes’ list is 41-year-old Kim Kardashian, who has a net worth of $1.8 billion. Kardashian and her sister Kylie Jenner – who, at age 24, is the youngest non-billionaire on the list, with a net worth of $600 million – have also found success in both entertainment and retail, including their respective makeup lines.