Rihanna Net Worth $600 Million Fortune- World’s Richest Female Musician
That is the opening line of Rihanna’s 2016 dance hall anthem titled, appropriately, Function. It might also serve as her personal motto.
Famous first as a singer, Robyn Rihanna Fenty, 31, has since evolved into a fashion icon and makeup entrepreneur–and soon she will be the first black woman in control of a significant luxury fashion house. All those efforts add up to a $600 million fortune, making her the wealthiest female musician in the world, before the likes of Madonna ($570 million), Céline Dion ($450 million) and Beyoncé ($400 million).
Venture with LVMH
Most of this comes not from songs but from her venture with LVMH, the French luxury goods giant run by billionaire Bernard Arnault. Rihanna (pronounced”Ri-ann-ah,” not”Ri-ah-nah,” as she recently explained ) and LVMH co-own the cosmetics brand Fenty Beauty. It started in September 2017 in Sephora, another LVMH brand, and online at FentyBeauty.com, fast turning into a viral success. Fenty Beauty racked up a reported $100 million in sales in its first few weeks, propelled by Rihanna’s fame and 71 million Instagram followers.
Grand View Research
The whole personal care industry in the USA has grown huge in the last few years. Based on Grand View Research, it may swell to more than $200 billion in sales by 2025, up from closer to $130 billion in 2016. The market saw a listing 134 M&A prices this past year, including P&G’s $250 million purchase of 10-year-old First Aid Beauty. Possibly the most telling data point: 11 of the 80 women on Forbes’ listing of the Richest Self-Made Women made their money in beauty or skincare products. Many did what Rihanna did, turn to the low-cost marketing opportunity presented by social networking. That works best for present celebrities, as Kylie Jenner and her Kylie Makeup proved out, who will push their brand new products in their present followers.
Fenty Beauty has distinguished itself in a different way, releasing 40 shades of the base, a lot more than the handful of sunglasses offered by other brands. “It challenged the standard convention that you only needed a really defined set of sunglasses to satisfy a current market,” says Stephanie Wissink, a research analyst at Jefferies. “Not only did [Fenty Beauty] achieve meaningful sales, but it potentially altered the industry indefinitely.”
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Fenty Beauty Generated $5700
Revenue continues to soar. Fenty Beauty generated an estimated $570 million in earnings this past year, after just 15 months in business. The whole performance is worth, conservatively, more than $3 billion. Forbes quotes thatLVMH owns an estimated 50 percent of it, while Rihanna has roughly 15%, a figure a spokesperson for the artist contested but would not clarify further.
The Barbados native, who overcame hardships including an abusive addict dad and a well-publicized attack by then-boyfriend Chris Brown in 2009, also co-owns the Savage X Fenty lingerie line with Los Angeles-based online fashion company TechStyle Fashion Group and contains countless earnings from her career touring and releasing as a singer, which form the remainder of her fortune.
LVMH & Fenty
Her empire keeps growing. In May, LVMH and Rihanna declared Fenty, a new clothing house that will make high-end clothing, accessories, shoes, and jewelry.
“They extended the offer to me and it was a no-brainer since LVMH is a system,” Rihanna told The New York Times Style Magazine. “Bernard Arnault was enthusiastic; he trusted me and my eyesight.”
The fashion line, which found online in May, includes sizes up to U.S. 14, embodying the exact same inclusive ideal of Fenty Beauty. It will exist under the same umbrella as famous brands like Dior and Givenchy, marking LVMH’s first new home in over 30 years.
“What Fenty Beauty didn’t attractiveness, Fenty lifestyle will do to fashion,” states Wissink. “It is going to raise the bar for what it looks like to create a brand which is inclusive, game-changing, international and iconic.”