Rihanna is always on the minds of a particular segment of the internet, but she’s back in the news in a big manner when word leaked yesterday that she’s having a kid with rapper A$AP Rocky.
With that in mind, it seems appropriate to reflect on how the woman born Robyn Rihanna Fenty in Saint Michel, Barbados, rose to become one of the world’s wealthiest entertainers at the age of 33.
What is Rihanna’s net worth?
Forbes put Rihanna’s net worth at $1.7 billion in August, making her the world’s wealthiest female musician and “second only to Oprah Winfrey as the richest female entertainment.”
Taking Over The Music Industry
Rihanna rose to prominence after releasing her debut album “Music of the Sun” in 2005 and the single “Pon de Replay” for the Def Jam label, which is owned by Universal Music Group (UMGP).
Her Grammy-winning single “Umbrella,” from the 2007 album “Good Girl Gone Bad,” topped the Billboard charts and went seven times platinum in the US, firmly establishing her as a global pop superstar.
She released an album every year between 2009 and 2012: “Rated R” in 2009, “Loud” in 2010, “Talk That Talk” in 2011, and “Unapologetic” in 2012, all of which went double platinum thanks to singles like “Rude Boy” and “We Found Love.”
According to Billboard, Rihanna has sold more over 10 million albums in the United States, and Nielsen SoundScan placed her as the country’s best-selling digital artist between 2004 and 2012. Tours to sold-out arenas followed. However, since the release of “Anti” in 2016 and the accompanying tour, she hasn’t been as concentrated on her musical output.
Rihanna, like many other well-known singers, has dabbled in acting. Her 2012 children’s board game to film adaption “Battleship” and her 2017 sci-fi feature “Valerian and the City of a Thousand Planets” both underperformed at the box office, however the 2018 sequel “Ocean’s 8” was a success.
Over the years, she’s also appeared in a number of advertisements, including one for Kodak.
Wendy’s has a new deal on their menu that replaces the 4 for $4 deal.
Her music, film, and touring would very likely have put her at the top of any list of affluent celebrities. But it was her fashion and cosmetics business Fenty, which she launched in 2017, that propelled her to the position of second-richest female performer.
What is Rihanna’s net worth?
In 2017, Rihanna launched Fenty in a 50-50 partnership with LVMH, the French luxury fashion conglomerate led by Bernard Arnault, the world’s third richest person.
Her company’s mission was to be as inclusive as possible, serving the needs of people who felt excluded by other beauty businesses. According to Forbes, her foundation comes in “50 hues, including harder-to-find deeper tints for women of colour — and is modelled in its ads by an equally varied set of people.”
Rihanna’s celebrity status, social media dominance (she has 101 million Instagram followers and 102.5 million Twitter followers, which will really help get the word out about a new venture) and ability to identify an untapped consumer base helped Fenty achieve near-instant success, with annual revenues of $550 million by the following year. Despite the fact that the cosmetics business was affected by the COVID-19 outbreak, Fenty remained robust and is valued at $2.8 billion.
She founded the lingerie label Savage x Fenty in 2018 as a joint venture with the internet startup Techstyle fashion group, which raised $115 million in finance last year at a $1 billion valuation. She is now a serial entrepreneur. She is thought to own a 30% share in the company.
In 2019, Rihanna created a Fenty fashion and accessory collection in a range of sizes, but the high-end line faltered during the epidemic and closed early last year. It’s impossible to win them all.
Fenty’s ownership accounts for $1.4 billion of Rihanna’s net worth. According to Rolling Stone, the rest of her net worth is estimated to be over $270 million and comes from her music, acting, and lingerie brand.
Rihanna has also been charitable with her money, establishing the Clara Lionel Foundation in 2012 to help education and disaster relief organizations all around the world. The Clara Braithwaite Center for Oncology and Nuclear Medicine at Queen Elizabeth Hospital in Barbados was established thanks to Rihanna’s initial investment of $1.75 million.
Her supporters congratulated her on her new billionaire status as if it were their own, and many noted that it was inspiring to watch a black woman accomplish at such a high level when there are so few black billionaires in the world, and even less of them are women.
However, Rihanna’s success may come at a cost, as she hasn’t published an album since 2016, and her imminent motherhood, as well as her fashion and lingerie business, may leave her with little time in the studio.