The singer became a businessman, who is at 1,729 (from 2,668) with a net worth of 1.7 billion dollars, first achieved the status of billionaire in August. She is the first billionaire in her homeland, Barbados. The annual exhibition, which includes fellow musicians Jay-Z ($ 1.4 billion) and Kanye West ($ 2 billion), along with creators and entertainers Kim Kardashian ($ 1.8 billion), Steven Spielberg (3, $ 7 billion), Tyler Perry ($ 1 billion) and newcomer Peter Jackson ($ 1.5 billion) credits the success of Rihanna Fenty Beauty cosmetics line with her lingerie company Savage X Fenty. According to Bloomberg, Savage X Fenty is reportedly looking forward to an IPO that would value it at $ 3 billion. An entry could be made as soon as this year. The four-year-old fashion brand, which has expanded into a brand with five locations across California and Las Vegas, raised $ 125 million during a funding round in January. Rihanna holds 30% of the shares, according to Forbes. Rihanna records a video during the premiere of Savage X Fenty Show Vol. 3rd Event in New York, USA, September 22, 2021. REUTERS / Stephen Yang Although many know Rihanna for her music – from the hit singles “Umbrella” and “Where Have You Been” to “We Found Love” and “Work” – the pop star actually made most of her income through of Savage X Fenty, along with her. thriving cosmetics line. Fenty Beauty, released in 2017, contributed the most to the singer’s wealth – estimated at $ 1.4 billion, according to Forbes. The makeup company immediately gained a reputation for its involvement in all skin tones, generating more than $ 550 million in annual revenue in its first calendar year. At that time, Fenty Beauty was one of the first (and most notable) brands to introduce a variety of base shades and was especially popular with women of color. The brand, currently sold online and on Sephora sites across the country, is a 50-50 joint venture between Rihanna and fashion house LVMH (LVMUY) – the heterogeneous group behind luxury brands such as Christian Dior and Louis Vuitton. The story goes on
Hollywood on Wall Street
In recent years, there has been an explosion of beauty brands with Kim Kardashian, Kylie Jenner, Jessica Alba, Lady Gaga and Scarlett Johansson putting their names behind a wide range of makeup and skin care. However, Rihanna is the richest among the A-list pack, according to Forbes. The 34-year-old’s success speaks to the biggest story of women entrepreneurs, especially in Hollywood. Last year, Oscar-winning actress Reese Witherspoon reached an agreement to sell Hello Sunshine’s production company to a Blackstone-backed media company. The New York Times reported that the deal valued Hello Sunshine at about $ 900 million. Prior to that, The Honest Company (HSNT) – the lifestyle brand founded by Jessica Alba – was launched on the Nasdaq in early May 2021. Shares sold for $ 16 in the initial public offering to close at $ 23 per share in the first trading day, giving the company a market value of about $ 2.1 billion. However, the shares have since declined with the share having fallen 42% from year to date. The company is now worth just under $ 432 million. CULVER CITY, CA – NOVEMBER 14: Actress Reese Witherspoon (L) and gala presidency member Jessica Alba attend Baby2Baby Gala 2015 presented by the MarulaOil & Kayne Capital Advisors Foundation in honor of Kerry Washington at 3LABS on November 14, 2015 in Culver City, California. (Photo by Stefanie Keenan / Getty Images for Baby2Baby) More recently, Kim Kardashian made headlines after revealing her advice to women in the business world. “I have the best advice for women in business,” Kardashian told Variety, using salty language to tell women to “get up and work. No one seems to want to work these days.” Her words provoked reactions on Twitter, with many users noting Kardashian’s privileged background. However, the reality TV superstar was at the helm of many multimillion-dollar businesses. Kardashian, who jumped 1,000 places on this year’s list of billionaires compared to last year, was officially named a billionaire last April, thanks to the lucrative makeup brand of KKW Beauty and the salon company Skims, in addition to the extra cash series Keeping up with the Kardashians “and approval agreements. Her current fortune is estimated at $ 1.8 billion, according to Forbes. The upcoming reality series of the “The Kardashians” icon is set to debut on April 14 on Hulu (DIS). Alexandra is a Senior Entertainment and Food Journalist at Yahoo Finance. Follow her on Twitter @alliecanal8193 Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, YouTube and reddit
