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Rihanna Attains Billionaire Status

Entertainment

Rihanna Attains Billionaire Status

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Rihanna stands out as a well-known figure in the realm of contemporary music artists, boasting a lineup of hit songs that dates back to the early 2000s. But despite her recognized status as a music icon, the true foundation of Rihanna’s prosperity lies in her personal beauty brand, Fenty Beauty. It is through her fame and Fenty Beauty that Rihanna now finds herself among the most affluent women globally.

As indicated by a publication by Forbes, Rihanna has officially reached the coveted billionaire status, with a total wealth of $1.7 billion. This accolade positions Rihanna as the wealthiest female musician globally and the second wealthiest female performer after Oprah Winfrey.

Forbes approximates that about $1.4 billion of Rihanna’s fortune was amassed through Fenty Beauty, primarily its line of cosmetics. Additionally, she accrued around $270 million from Savage X Fenty, a lingerie collection connected to the Fenty brand. The remaining portion of Rihanna’s wealth is attributed to her music career and acting endeavors.

In reality, Rihanna possesses roughly a 50% stake in Fenty Beauty, with the remaining portion managed by LVMH, a renowned French luxury goods conglomerate. Notably, LVMH is overseen by Bernard Arnault, positioned as the world’s second-wealthiest individual.

Shannon Coyne, one of the founders of Bluestock Advisors, attributes the triumph of Fenty Beauty (and consequently, Rihanna’s success) to its extensive range of products designed for various skin tones, a deviation from other major cosmetic brands.

“She was among the pioneers who declared, ‘I aim to cater to all those diverse individuals.’” Coyne commented on Rihanna.

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