Rihanna has transformed her career from a celebrated musician to a formidable business mogul, amassing a staggering net worth of $1.4 billion as of October 2024, according to Forbes. While she is widely recognized for her chart-topping hits, it is her entrepreneurial ventures—most notably her cosmetics brand, Fenty Beauty—that have propelled her into billionaire status.
Fenty Beauty: A Game-Changer in the Cosmetics Industry
Launched in September 2017, Fenty Beauty marked a significant milestone in the beauty industry. Co-owned with French luxury conglomerate LVMH, the brand made its debut with an inclusive range of products that catered to a diverse clientele. The initial launch at Sephora was met with overwhelming enthusiasm, generating an impressive $72 million in sales within the first month, as reported by The Guardian. This success was largely attributed to Fenty’s groundbreaking approach to inclusivity, offering a wide array of shades that resonated with consumers of all skin tones.
Rihanna’s vision for Fenty Beauty didn’t stop at cosmetics; she has continuously expanded the brand’s offerings to include skincare and haircare products. The introduction of Fenty Skin in 2020 and the recent announcement of Fenty Hair demonstrate her commitment to addressing various beauty needs while maintaining a focus on diversity.
Savage X Fenty: Redefining Lingerie
In addition to her beauty empire, Rihanna launched Savage X Fenty in 2018, a lingerie line that emphasizes inclusivity in sizing and style. The brand made waves during its New York Fashion Week debut, featuring an array of high-profile models such as Bella Hadid and Cara Delevingne. The fashion show was later made available for streaming on Amazon Prime, showcasing Rihanna’s innovative approach to blending fashion with entertainment.
By 2021, Forbes declared Rihanna a billionaire, attributing her wealth primarily to Fenty Beauty while also acknowledging contributions from her music catalog and Savage X Fenty. With an estimated net worth of $1.7 billion at that time, she solidified her status as one of the wealthiest self-made women in the United States.
Global Expansion and Continued Success
Rihanna’s business acumen has led to significant expansion for both Fenty Beauty and Savage X Fenty. In February 2022, she announced that Fenty products would be available at Ulta stores across the U.S., further increasing accessibility for consumers. Additionally, by late 2022, Fenty Beauty had expanded its reach into eight African countries, including Ghana and Nigeria, bringing its total availability to 17 nations worldwide.
As Fenty continues to thrive, its revenue has doubled over the years. In 2022 alone, Savage X Fenty generated an impressive $125 million, further establishing Rihanna’s prowess as a business leader.
A Hiatus from Music but Not from Creativity
Despite being on a musical hiatus since the release of her last album Anti in January 2016, Rihanna has kept fans engaged with new music. Her recent single “Lift Me Up,” featured on the Black Panther: Wakanda Forever soundtrack, received an Academy Award nomination for Best Original Song. In June 2024, she hinted at new music on the horizon while emphasizing her desire to take her time in the studio. “I think that music, for me, is a new discovery,” she explained to Entertainment Tonight. “I’m rediscovering things.”
Rihanna’s return to live performance at the Super Bowl LVII halftime show reignited excitement among fans eager for more music from the star. While she continues to focus on her beauty empire and family life—she shares two children with partner A$AP Rocky—her musical journey remains an integral part of her identity.
As Rihanna expands her empire with upcoming launches like Fenty Hair—slated for June 13—her influence in both the beauty and entertainment industries shows no signs of slowing down. With innovative products designed for all hair types and textures, she aims to continue breaking barriers and setting new standards within the beauty landscape.
Rihanna’s journey from music sensation to billionaire entrepreneur serves as an inspiring tale of resilience and ambition. As she navigates this multifaceted career path, fans eagerly await what she will conquer next.
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