Ad

Latest Posts

Rihanna just made history thanks to her billion dollar fortune

Rihanna has made history as the youngest self-made billionaire woman in the United States.

The singer recently appeared on Forbes’ annual list of America’s richest self-made women for the third year in a row.

With a net worth of $1.4 billion, she ranked 21st in the list, and is its only billionaire under the age of 40.

Rihanna amassed her fortune not only through her 17-year music career, but from her three retail companies – Fenty Beauty, Fenty Skin, and Savage x Fenty.

In March, Bloomberg reported that Savage x Fenty lingerie, of which she owns 30%, was working with advisors on an Initial Public Offering (IPO) that could potentially be valued at $3 billion.

The ‘Umbrella’ singer also owns 50% of Fenty Beauty, which produced $550 million in revenue in 2020 – the other 50% is owned by French fashion conglomerate LVMH.

In 2019, Rihanna told The New York Times’ T Magazine that reaching financial milestones was “not going to stop me from working.”

She revealed she wanted to give her money away to causes that matter, “My money is not for me; it’s always the thought that I can help someone else.”

“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 said.

In 2012, the nine-time Grammy Award winner started a philanthropy fund – the Clara Lionel Foundation (CLF), which aims to “support and fund groundbreaking education and climate resilience initiatives.”

One of the foundation’s primary initiatives launched one year after it began, and raised $60 million for women and children affected by HIV/AIDS through sales from her lipstick collection with MAC Cosmetics.

In January, CLF paired up with Twitter co-founder Jack Dorsey’s #SmartSmall initiative to donate a combined $15 million to 18 different climate justice groups.

The next-youngest billionaire on Forbes’ list is 41-year-old Kim Kardashian, who has a net worth of $1.8 billion.

Ad

Latest Posts

Don't Miss