Rihanna has become the youngest self-made billionaire woman in the U.S. The hugely famous pop star has entered the list of Forbes’ list of America’s richest self-made women for the third year in a row.
Rihanna has been ranked 21st on the list. She is the only woman under 40 years of age to make it to the list. The singer came from a humble background, made her mark in the industry, and a fortune for herself which makes it even more commendable.
Rihanna Has a Net Worth of $1.4 Billion
The 34-year-old singer currently has a net worth of $1.4 billion. While a portion of this amount has come from her singing career, the major amount has been garnered from her chain of cosmetics and lingerie brands.
She currently owns three retail companies, Fenty Beauty, Fenty Skin and Savage X Fenty. The cosmetics line apparently generated revenue of more than $550 million in the year 2020. Her lingerie line-up Savage x Fenty, in which she has a 30% stake, had a valuation of more than $1 billion in 2021.
While the feat is impressive, Rihanna had earlier said that her focus was not on money and valuations. In 2019, she told The New York Times that she had never thought of reaching such huge financial valuations, and so these milestones would not stop her from working.
The Singer is Known for her Philanthropic Work
Rihanna had earlier revealed that she wants to spend the money she makes not on herself, but on important causes. She said, “My money is not for me; it’s always the thought that I can help someone else.”
She added, “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.”
In 2012, the nine-time Grammy Award winner formed the Clara Lionel Foundation, a philanthropic fund to support and fund groundbreaking education and climate resilience initiatives.’
The initiative raised $60 million in funds just a year after its launch. The fund was raised through sales of the singer’s lipstick line with MAC Cosmetics, and was utilized for women and children suffering from HIV and AIDS.
In a statement, Rihanna said about the CLF, “At the CLF, much of the work is rooted in the understanding that climate disasters, which are growing in frequency and intensity, do not impact all communities equally, with communities of color and island nations facing the brunt of climate change.”
Kim Kardashian is the Second Youngest Billionaire on the List
Rihanna is followed by Kim Kardashian, who is the second-youngest billionaire on the Forbes list. The 41 year old reality TV star and model has a net worth of $1.8 billion.
Kim’s sister, Kylie Jenner is also on the list with a net worth of $600 million. The 24-year-old model is the youngest entrant on America’s richest self-made women list.
The list was topped by businesswoman Diana Hendricks who has a net worth of a whopping $11.6 billion.
Congratulations to Rihanna on achieving this feat! For more news and updates, stay tuned.