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One of the most famous singers in the world made the bulk of her money offstage — in a joint venture with LVMH
Rihanna's beauty line accounts for most of her wealth. CAROLINE MCCREDIE/GETTY IMAGES FOR FENTY BEAUTY BY RIHANN
In one of her most popular songs, Rihanna says a certain someone “better have my money.” Well, turns out she got it.
Robin Rihanna Fenty is now a billionaire.
The multi-talented artist is worth $1.7 billion, Forbes reports, making her the second wealthiest female entertainer, after Oprah, and the richest female musician in the world.
While Rihanna, 33, may have gotten her start in music — selling 250 million records globally — her makeup brand is what pushed her into the billionaire’s club. Fenty Beauty launched in 2017 with a message of inclusivity; the makeup brand has more than 50 shades of foundation, often modeled by a diverse group.
The brand is a 50-50 joint venture with luxury goods conglomerate LVMH LVMH, +0.12%, run by the world’s richest person, Bernard Arnault. Forbes estimates that as much as $1.4 billion of the artist’s wealth comes from Fenty Beauty.
Fenty Beauty, sold online and at Sephora (also owned by LVMH), was an instant success. LVMH reported $550 million in annual revenue during the brand’s first full calendar year in 2018.
Fenty Skin has also been a hit, despite launching in the middle of the COVID-19 pandemic. In its annual report, LVMH said the brand “generated unprecedented buzz during the pandemic” and “is off to a very promising start.”
Rihanna has also found success in the lingerie industry. Her Savage x Fenty line raised $115 million in funding with a $1 billion valuation earlier this year. The brand launched in 2018 as a joint venture between Rihanna and Techstyle Fashion Group, but quickly raised capital from investors including rapper Jay-Z’s venture firm Marcy Venture Partners LLC and Avenir Growth Capital.
Of course, the massive fan base (including her 103 million Instagram followers) that helped rocket RiRi’s businesses into the billions is sorely missing her music. After churning out eight studio albums in a decade, the Barbadian artist hasn’t released a new one since her 2016 album “Anti.”
