The youngest self-made billionaire female in the U.S. didn’t mature in a Manhattan high increase or the HollywoodHills Instead, Rihanna generated her fortune from her own music and entrepreneurial endeavors.
Recently, the 34- year-old vocalist and Fenty Beauty CEO enhanced Forbes’ yearly list of America’s wealthiest self-made females for the 3rd year in a row. She ranked 21 st in general, and is the list’s only billionaire under age40 Some of Rihanna’s $1.4 billion net worth is from her effective music profession. Most of it is from her 3 retail business: Fenty Beauty, Fenty Skin and Savage X Fenty.
In March, Bloomberg reported Savage X Fenty underwear was dealing with consultants on an IPO that might possibly be valued at $3 billion. Rihanna owns 30% of that business. She likewise owns half of Fenty Beauty, which created $550 million in earnings in2020 The partner of the business is owned by French high-end style corporation LVMH.
The numbers are excellent, however Rihanna has actually stated that her focus isn’t on appraisals and awards. In 2019, she informed The New York Times’ T Magazine that due to the fact that she never ever intended on succeeding, reaching monetary turning points was “not going to stop me from working.”
The nine-time Grammy Award winner likewise stated she wishes to consider that cash away to causes that matter, anyhow. “My money is not for me; it’s always the thought that I can help someone else,” she stated. “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.”
In 2012, Rihanna began a philanthropy fund, the Clara Lionel Foundation (CLF). It intends to “support and fund groundbreaking education and climate resilience initiatives,” according to its site.
One of its very first efforts, which introduced a year after the structure started, raised $60 million for females and kids impacted by HIV/AIDS through sales from the vocalist’s lipstick line with MACCosmetics And in January, CLF paired with Twitter co-founder Jack Dorsey’s #SmartSmall effort to contribute a combined $15 million to 18 various environment justice groups.
That cash is implied for companies “focused on and led by women, youth, Black, Indigenous, people of color and LGBTQIA+ communities” in the U.S. and Caribbean, according to CLF’s site.
“At the [CLF], much of the work is rooted in the understanding that environment catastrophes, which are growing in frequency and strength, do not affect all neighborhoods similarly, with neighborhoods of color and island countries dealing with the force of environment modification,” Rihanna stated in a January declaration.
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 sibling Kylie Jenner– who, at age 24, is the youngest non-billionaire on the list, with a net worth of $600 million– have actually likewise discovered success in both home entertainment and retail, including their particular makeup lines.
Sign up now: Get smarter about your cash and profession with our weekly newsletter
Don’t miss out on:
America’s wealthiest self-made female matured on a dairy farm– now she has a net worth of $116 billion
Tory Burch wishes to see more magnate speak out about social problems: ‘I tend not to be able to be silent on issues around humanity’
