RiRi should do what every other billionaire does, and initiate herself in the clurb by launching herself into space in her Fenty ship
Forbes estimates that the musician and founder of make-up and fashion empire Fenty is worth around $1.7 billion, making her the wealthiest female musician in the world, and second-wealthiest entertainer in the world, behind Oprah.
Oooooft, that’s some serious dosh.
$1.4 billion of her net worth comes exclusively from Fenty Beauty in which Rihanna owns a 50 per cent share.
The rough $270 million that remains of her net worth derives from her music sales, acting career with a stake in her lingerie line, Savage x Fenty.
Forbes states Fenty Beauty’s success for two primary reasons.
Unlike other celebrities who have dipped in the branded product pool, Fenty gained instant recognition and desire based on Rihanna’s already overwhelming success as a musician alone.
To put the cherry on top, the fact that Fenty has a diverse product line with actual inclusivity of skin tones (50 shades of RiRi) has massively contributed to Fenty being a fan and consumer favourite.
A split 50-50 joint venture with French luxury conglomerate LVMH, which also owns makeup retailer Sephora, Fenty Beauty reportedly beamed a whopping $550 million during its first calendar year in 2018.
This beat out other celebrity lines like Kylie Jenner’s Kylie Cosmetics (which isn’t even very good, especially the cheaply made and shitty skincare) and Kim Kardashian West’s KKW Beauty.
Economic decline from the pandemic has deterred cosmetic sales, but it is now expected to increase over the year.
From the cosmetic line’s success, Rihanna’s Savage x Fenty line has expanded the empire by raising $155 million in funding in February at a $1 billion valuation.
Founded in 2018, Savage x Fenty is a joint venture with the TechStyle Fashion Group in which Rihanna maintains a 30 per cent ownership stake.
Unfortunately due to plummeting sales of fashion and accessory house Fenty during the pandemic 2020, it proved unprofitable. Only launched in 2019, it was shut down by Rihanna and LVHM in February.
On the music side, Rihanna’s last album Anti was in 2016 and there’s been nothing but a tumbleweed in regards to when a new album may be coming out. Of course, the album was prior to her major brand expansions for her ultimate RiRi empire.
Love Rihanna and all (good for you girl) but still a firm believer that billionaires should not exist. It’s just one of those things I’ll never get. They literally have so much money they’re racing to the moon. Build a school or fund a inner city library or something productive.
— Tranquil Youth Entity (@tye_hay) August 5, 2021
Consumer goods consultant for Forbes, Shannon Coyne said:
“She is creating a brand outside of herself. It’s not just about Rihanna.”
That’s where you are simply wrong, Shannon Coyne. IT. IS. ALL. ABOUT. RIRI.
I expect Rihanna will be flying into space soon to launch her own planet.
Y’all want Beyonce to be “relatable” so bad😭😭. But the fact that y’all think y’all can relate to Rihanna shows how weird y’all are cuz at the end of the day she a billionaire and y’all not . https://t.co/R22xF4pPr6
— ℑ𝔱𝔰𝔧𝔲𝔰𝔧𝔞𝔡𝔞🦋✨ (@riritwincousin) August 5, 2021