Forbes Names Rihanna America’s Youngest Self-Made Billionaire Woman

Source : coinspeaker.com

According to Forbes, the next-youngest billionaire after Rihanna is 41-year-old Kim Kardashian, who has a net worth of $1.8 billion.

In the annual list of America’s richest self-made women, Forbes has named Rihanna the youngest self-made billionaire woman. Being only 24, the singer ranked 21st overall, with a $1.4 billion net worth. Notably, Forbes includes Rihanna in its list for the third year in a row.

Back in 2019, Rihanna was officially named the world’s richest female musician, beating Beyoncé and Lady Gaga. Last year, we reported that she crossed over from millionaire to billionaire. But despite being known as a singer first, she’s actually made most of her money from other business ventures.

Thus, music is not the only source of Rihanna’s wealth. Since 2017, Rihanna has been co-owning cosmetics company Fenty Beauty with French luxury retailer LVMH. With new products launching every season, the brand seems to be a huge success. According to Forbes, Fenty generated more than $550 million in revenue in 2020. Last year, Fenty was a top-earning celebrity beauty brand. The company is worth a conservative $2.8 billion as of 2022. Notably, the company has a global presence with as many as 1,600 stores in 17 countries.

Furthermore, Rihanna has a 30-percent stake in the Savage x Fenty lingerie line. The brand is popular due to its inclusive nature. The lingerie comes in all sizes, including for full-size women who want to look and feel good. In January this year, the brand raised $125 million during a funding round at a $1 billion valuation. Currently, Savage x Fenty is eying an initial public offering (IPO) that could potentially bring the company’s valuation to $3 billion.

And of course, Rihanna makes money with music and capitalizes on her social media presence. The singer has 101 million followers on Instagram and 102.5 million on Twitter.

Rihanna to Conquer Metaverse

Apart from being a singer, an actress, an entrepreneur, and a philanthropist, Rihanna is also a fan of the metaverse. In March this year, she revealed the intention to offer “virtual” cosmetics and hair care products under the Fenty brand and filed a batch of trademark applications for taking Fenty Beauty to the metaverse and dominating the Web 3.0 world.

The trademark applications include the rights to sell downloaded virtual items for use in online virtual worlds, such as makeup and hair accessories, skin care preparations, soaps, and perfumes.

Besides, the initiative includes retail shop services, such as virtual merchandise and goods for online use. The trademark also covers non-downloadable virtual goods, offering online non-downloadable software featuring NFTs or other digital tokens based on blockchain technology.

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Daria Rud

Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.

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