Rihanna is now officially the only female (billionaire musician) in the world. Yes, she is now the richest singer on the planet – and for good reason. At 33, she has already become the most successful artist in Billboard Songs Chart history and now Forbes announced the fact that she is a billionaire.
Her music career spans impressive almost 20 years, but still Rihanna’s great hit songs are only a small part of her fortune. Rihanna’s many brands, from fashion to lingerie to beauty, made $ 46 million in 2020 alone, according to Forbes. However, this is small money compared to her general fortune.
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So who is Rihanna and how much did she worth now?
Rihanna, named Robyn Rihanna Fenty (born February 20, 1988, St. Michael Parish, Barbados), is a Barbados pop and rhythm and blues (R&B) singer who became a world star in the early 21st century, known for her distinctive features and versatile voice, and for her fashionable appearance.
Fenty grew up in Barbados with her father from Barbados and mother from Guyana. In childhood, she she was listening to reggae, as well as American hip-hop and R&B. She was especially fond of singing and won the school talent show with a Mariah Carey song.
Almost in that time, she founded a girl with two friends, and in 2004 attracted the attention of an American producer called Evan Rogers. He helped Fenty record a demo that led to an audition with rapper Jay-Z, who was heading Def Jam at the time, and he soon signed to the up-and-coming vocalist. In her professional career, she adopted a middle name – Rihanna.
Now Rihanna became one of the most discussed characters in the last week, as she was announced as the wealthiest female musician on the planet. But how did that happen? In this article we will tell you about the hard way that Fenty passed and resulted in 1.7 billion dollars. What is especially crazy is that Rihanna is a billionaire, but not because of her music.
How Rihanna became so rich?
In 2017, the world-renowned Rihanna Robin Fenty founded a beauty company called Fenty Beauty. Her goal is to create a cosmetics company that involves all women. Perhaps an unexpected consequence: The beauty series helped her enter one of the most unique titles in the world: billionaire.
Naturally, Rihanna’s incredible musical talent is her first ticket to success. Who can forget that her hit song “Umbrella” topped the charts for several weeks in 2007? She has not forgotten her roots.
Indeed, most of the money she makes is from albums and tours. Her record label, called Roc Nation, claims to be the best-selling digital artist of all time, with 60 million albums and 215 million digital tracks sold worldwide. Her 2013 Diamonds World Tour generated a gross profit of nearly USD 142 million, while the 2016 Anti World Tour generated a gross profit of USD 106 million.
Rihanna is now estimated to be worth $ 1.7 billion, making her the richest musician in the world and the second richest artist after Oprah Winfrey. But it wasn’t the music that made her so rich. The bulk of her fortune (roughly $ 1.4 billion) comes from the value of Fenty Beauty, 50% of which, belongs to her. Much of the rest comes from her $ 270 million underwear company Savage x Fenty and her earnings from her career as a musician and chart-topping actress.
Barbados-born Rihanna isn’t the only celebrity to capitalize on her social media presence (she has 103 million Instagram followers) to build a beauty brand, but she’s the most successful beauty entrepreneur who did it.
Rihanna and her love towards Fenty Beauty
Fenty Beauty is a 50×50 joint venture with LVMH, a French luxury goods company that owns luxurious and elegant brands such as Christian Dior, Givenchy, Louis Vuitton, and Marc Jacobs. Fenty immediately grabbed consumer attention with its wide range of 50 different shade foundations that reportedly raised $ 100 million in the first few weeks after Sephora launched in September 2017.
Products available online and in Sephora stores, which also belong to LVMH, lived an instant success. According to LVMH, by 2018, its first full calendar year, the line was generating over $ 550 million in annual revenue, ahead of other celebrity-based brands such as Kylie Cosmetics, Kylie Jenner, KKW Beauty Kim Kardashian West, and Honest Co from Jessica Alba.
While cosmetics sales have slowed during the pandemic, cosmetics companies are more expensive than ever. Shares in major cosmetic conglomerates such as Estée Lauder and L’Oréal have bounced back, hitting record highs and trading at an impressive 5x in annual revenue. At the same time, independent brands such as Charlotte Tilbury signed multi-billion dollar deals with investment companies earlier this year.
This is good news for Rihanna. It was also estimated that Fenty Beauty is valued at $ 2.8 billion thanks to the impressive multipliers used by cosmetics companies. And all the signs indicate that the company continues to grow. LVMH said in its 2020 annual report that Fenty Skin, which launched last year, made a “very promising start” and “caused an unprecedented hype” and that Fenty Beauty has “retained its appeal as a leading cosmetics brand.”
Rihanna once said that “in every sector of business, I make something from a dream come true, and this is what I really love. Music led me to these other outlets and to things that I truly love. My mom worked in the beauty and perfumery industry for a long time – she did makeup for people and was a make-up artist – so I always liked it. “
Rihanna also noted elsewhere in the interview that balancing between different business ventures is part of “the reason the album doesn’t get spit out like it used to.”
“I used to be in the studio, only in the studio, for three months in a row, and the album was coming out,” she said. “Now it looks like a carousel. Today I’m in fashion, the next I’m in lingerie, the next I’m in beauty, and the next I’m in music. It’s as if you have a bunch of kids and you have to take care of them all. “
Rihanna has been making money from her music career since 2000s
Rihanna started making music when she was a little girl living in Barbados. When she was 15, she met music producer Evan Rogers, who decided she had the potential to be a star, according to Insider. Two years later, she signed with rapper Jay-Z’s Def Jam label.
Rihanna still remembers what her audition for Jay-Z was like: “I thought, ‘Oh God, he’s right here, I can’t watch, I can’t watch, I can’t watch! “- she said. “I remember being very quiet. I was very shy. I was cold all the time. I had butterflies. I sit across from Jay-Z. Like Jay-Z. I was struck by the star. “
“The audition definitely went well,” she continued. “Jay-Z said,“ There are only two ways out. Get out the door after you sign this deal. Or through this window. ” And we were on the 29th floor. Very flattering. “
Since then, Rihanna has released dozens of songs, including hits such as “Umbrella”, “We Found Love” and “Desperado”. All these singles and albums are making some serious money. According to Insider, in 2016 alone, she made about $ 22.3 million from her music alone. She also makes a lot of money from her world tours like Diamond, which have generated a solid $ 137 million in total revenue.
Although it has been five years since she released the album, she told Vogue that she hasn’t finished yet: “I can’t tell when I’m leaving, but I’m working on music very aggressively.”
Most of Rihanna’s fortune comes from her own business
While all that musical mule definitely won’t hurt her bank account, it’s not Rihanna’s main source of income. According to Forbes, the beauty line Fenty Beauty brings in about $ 1.4 billion of her net worth.
Rihanna owns 50% of the company and she created this through her huge social media presence. Fenty Beauty was launched in 2017 through partner company LVMH (a French company run by Bernard Arnault, the second largest man in the world) and has since become a platform for inclusiveness in the beauty industry.
Shannon Coyne, co-founder of the consulting firm Bluestock Advisors, explained Rihanna’s influence on the beauty industry in an interview with Forbes: “Many women felt there were no lines to match their skin color. They were light, medium, medium-dark, dark. , “she said.” We all know it isn’t. She was one of the first brands to say, “I want to talk to all these different people.”
With the recent launch of Fenty Skin, Fenty Beauty is estimated by Forbes to be worth around $ 2.8 billion, and Rihanna intends to increase that number further.
Other billionaire celebrities
But are there any other rich celebrities in the world today? Let’s now see who are the most famous billionaires in the American show business starting from 1 billion dollars and continuing with 10 billion dollars.
J.K. Rowling Net Worth: $ 1 billion
The first of the most famous billionaires, JK Rowling is clearly known for creating the “Harry Potter” empire, which has sold more than 500 million books worldwide and generated billions at the global box office Dollar.
Rowling is one of the richest private citizens in the UK and the first writer in the world with a net worth of US$1 billion. It should be noted that J.K. keeps her personal financial situation extremely confidential and denies that she is a billionaire.
If she secretly donates most of her wealth to charity, it may be possible. According to records, he has donated at least US$150 million to charities so far. She wrote her first book as an unemployed single mother living on welfare.
David Copperfield Net Worth: $ 1 billion
David is by far the richest magician in the world. His annual income is US$4.060 million, thanks to in large part to the more than 500 performances he performs at the MGM Grand Hotel in Las Vegas each year. After Las Vegas closed due to the coronavirus pandemic in 2020, David did not lay off employees and continued to pay all wages in person. David has the largest collection of magical memorabilia in the world.
The collection contains more than 150,000 objects, including precious artifacts of Harry Houdini, Georges Melies, and Robert Houdin, the father of modern magic. The collection is housed in a 40,000 square foot warehouse a few miles from the Las Vegas Strip. Some experts have valued the collection at a staggering 500 million U.S. dollars.
David’s real estate portfolio is worth $ 200-300 million. The crown jewel of his portfolio is an 11-island resort in the Bahamas that costs $ 50-100.00 per night to rent with a four-night minimum. He bought his first Bahamanian island in 2006 for $ 55 million. In Vegas he owns an $ 18 million mansion. In New York City he owns a four-floor apartment that is worth at least $ 60 million.
Jay-Z Net Worth: $ 1.3 billion
Jay Z is another richest celebrity in the world, with a high net worth of $ 1.3 billion. Like many celebrities, such as Rihanna, Jay Z earned most of his personal wealth outside of his main entertainment talent (which is music in his case). Jay Z runs an impressive business empire. An Empire produced some very interesting movies in 2021.
In February 2021, he sold 50% of his Armand de Brignac champagne brand to luxury conglomerate LVMH for an estimated $ 640 million. A week later, he struck a deal to sell Tidal’s streaming service to Jack Dorsey’s other company, Square, for $ 300 million. Jay also owns stakes in SpaceX, Outly, Uber, Sweetgreen, and Ethos.
Combined with the $ 500 million fortune of his wife, the couple’s net worth can reach to $ 2 billion.
Beyoncé and Jay-Z own $ 100 million in art and real estate around the world. The crown jewel of their real estate portfolio is a 30,000 square foot mansion in Bel Air, which was purchased for $ 88 million in 2017. They invested $ 36 million and took out a $ 52 million mortgage.
Kim Kardashian Net Worth: $ 1.4 billion
Kim Kardashian is incredibly successful considering her career began with working as personal assistant to Paris Hilton and a sex tape with Ray J. She turned that early shame into reality a show that ended with a 20th anniversary. A new season takes place this year after debuting in 2007. Kim then leveraged the prominence of reality on social media and the product empire.
Kim’s two most valuable assets today are KKW Beauty, a line of beauty products aimed at the direct consumer, and Skims, a shapewear company. KKW Beauty generates about $ 100 million in revenue per year. Last year, she sold 20% of KKW to Coty, the same company that bought 51% of Kylie Cosmetics to her half-sister Kylie Jenner in 2020. KKW Beauty’s latest estimate was $ 700 million. Kim owns 72% of the company, which gives her a $ 500 million pre-tax stake.
Skims was launched in 2019. An article published in the New York Times in April 2021 reported that Skims recently raised $154 million, an estimated $1.6 billion. It is believed that Kim owns 50-60% of the brand, which gives him $80.96 billion in pre-tax shares.
Oprah Winfrey Net worth: $ 3.5 billion
The entertainment world was stunned in 1984 when a little-known black news anchor with an unusual name was awarded a four-year, $ 1 million contract to host her own morning talk show in Chicago.
Within months of its debut, the show skyrocketed to “Number 1” in the Chicago market. Two years later, the show became syndicated across the country. But Oprah was unhappy. She quickly realized that her $ 1 million four-year contract was nothing compared to the profits she made from her job.
Oprah consulted with Chicago media legend Roger Ebert, who told her to meet with his agent Jeffrey Jacobs. Jacobs explained that Siskel and Ebert own some of the domestic capital of their show; This is how you get rich. You need to be the owner. Oprah took Jeffrey’s advice to the extreme.
Oprah and Jeffrey co-founded HARPO Productions (she owns 90%, he owns 10%) and started producing “The Oprah Winfrey Show” on their own pennies. Then they sold the show market by market. Oprah and Jeffrey then struck a much larger overall deal with ABC, which included film production, a magazine, books and, most importantly, the right to run other TV shows under its umbrella. All productions for these shows will take place on her 3.5-acre HARPO campus. They weren’t finished.
Oprah and Jeffrey have gone as far as agreeing to share ownership of her distributor King World Productions. Through this deal, Oprah will be making money on every King World show including Jeopardy and Wheel of Fortune.
In 1999, CBS bought shares in King World for $ 2.5 billion. When the acquisition was completed, Oprah owned 1% of all CBS. As a result, she also owned a significant portion of Disney shares through a deal she struck with ABC in the mid-1990s.
At the height of her career, when The Oprah Winfrey Show aired, Oprah personally made about $ 300 million a year from her media empire.
Oprah has been a member of the Weight Watchers board of directors since 2015. When she joined the company, she was granted $ 43.5 million in equity capital. This share has grown to over $ 400 million at various points in recent history.
Oprah Winfrey’s fortune is now $ 3.5 billion. She is one of the richest self-made women in human history, and by far the richest black woman to achieve her own success in American history.
At the time of this writing, Oprah has donated over $ 400 million to charity, mainly focusing on educational purposes. She has awarded more than 400 scholarships to Morehouse College Atlanta.
Steven Spielberg Net Worth: $ 7.5 billion
Spielberg’s films grossed over $ 14 billion and Stephen traded his salary for points at a number of his box office receipts. For example, Spielberg made $ 250 million in 1993 Jurassic Park, then $ 150 million in the sequel and $ 75 million in the third installment, a total of $ 475 million from that franchise.
In the 1990s, Stephen agreed to a deal that gave Universal (the studio that created Jurassic Park) the first right to make theme park rides based on his films. In return, Stephen will be entitled to 2% of all Gross ticket sales to Universal’s theme parks worldwide, annually and indefinitely. Over time, Universal has opened several theme parks around the world. Each park owed Mr. Spielberg 2% of ticket sales.
By 2015, Universal was owned by the public company Comcast. Comcast’s securities filing revealed that he had to pay Stephen $ 535 in the buyout. Instead, Universal doubled the amount and acquired a small stake in Spielberg’s Amblin Partners. And for decades, Stephen owned a large stake in Star Wars thanks to a brilliant deal he struck with his good friend George Lucas back in the early 1970s. Stephen owns $ 200 million in real estate and a $ 250 million yacht.
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