Multi-award winning singer, Robyn Rihanna Fenty better known as Rihanna has become the wealthiest female musician in the world at the age of 31. Rihanna is from Bridgetown, Barbados and moved to the United States in 2005 where she began a successful music career.
According to Forbes, Rihanna shot herself to this position as she now controls a $600 million fortune. She’s far richer than Madonna ($570 million), Céline Dion ($450 million) and Beyoncé ($400 million).
.@TIME mag named @fentybeauty one of the 25 best inventions of 2017! I’m honored and I have to send love to everyone who’s supported this brand in the 2months that we’ve been here! Glory to the Most High. https://t.co/sGxsiO6wxA pic.twitter.com/GsPG64A93P
— Rihanna (@rihanna) November 16, 2017
The mega entrepreneur apart from making millions from tours, brand endorsements and songs, also makes most of her money from her own companies.
Currently, Rihanna has a lucrative partnership with French luxury goods giant, LVMH. LVMH Moët Hennessy is a French multinational luxury goods conglomerate headquartered in Paris and owned by billionaire, Bernard Arnault.
In September 2017, Rihanna launched makeup brand Fenty Beauty she co-owned with Bernard Arnault which has gone ahead to record immense financial success. The products are sold through cosmetics retailer Sephora, another LVMH brand.
Fenty Beauty reportedly made $100 million in sales in its first 40 days on the market, according to Vogue and is now available in 29 countries, including Bahrain and Malaysia. Not only that, it has expanded by offering eyeshadows, liquid eyeliner, and lip color etc.
LVMH, Fenty Beauty’s sales reached almost 500 million euros ($573 million) by the end of 2018, according to a report by Snobette.
The success story of Rihanna in the industry has shown that the sale of beauty or skin care products in America is a booming line of business that will improve in the coming years. In fact, a Grand View Research forecast has revealed that the industry is likely to record $200 billion in sales by 2025.
With a staggering 71 million fans alone on Instagram, Rihanna has continued to push the bar higher as she is 100 percent involved in the packaging, marketing, and formulation process.
Forbes reported that Fenty Beauty generated an estimated $570 million in revenue last year, after only 15 months in business.
Apart from investing in personal care industry, Rihanna is also the co-owner of Savage X Fenty lingerie line with Los Angeles-based online fashion firm TechStyle Fashion Group.
Rihanna also has a clothing line, Fenty which specializes in making high-end clothes, shoes, accessories and jewelry.
Rihanna has also recorded great success in other businesses. For instance, her fragrance products – Reb’l Fleur, Rebelle, Nude and Rogue Men have all made financial success leaving the singer smiling to the bank. She’s also a co-owner of Tidal alongside many heavyweight musicians such as Kanye West, Beyoncé, Madonna, Chris Martin, Nicki Minaj and others.
She also co-owns a beauty and stylist agency called Fr8me which helps artists in booking commercials, editorial shoots, ad campaigns and red-carpet appearances. She also has a photo agency called “A Dog Ate My Homework”, which represents photographers Erik Asla and Deborah Anderson among other businesses.
With all these investments, Rihanna has shown that dreaming alone is not enough. You have to have the tenacity and drive to succeed. She has proved that when you work hard and pursue your dreams, nothing is impossible. From life as a poor little girl, she has emerged to be a leading player in the world of music and business.