Rihanna is Now America’s Youngest Billionaire at 34
Rihanna became a billionaire last year when her personal fortune reached $1.7 billion, a feat few singers have accomplished. At 34, she is now the youngest self-made billionaire, a title previously held by Kylie Jenner in 2019. This was mentioned in their annual list of self-made women under 40, which is a ranking of America’s most successful female entrepreneurs, executives, and celebrities.
Rihanna and her enormous value
Self-made is a term used to describe people who made their fortune on their own rather than through inheritance, as is the case for the vast majority of young billionaires around the world. In Rihanna’s case, she has worked independently, amassing one of the greatest fortunes for a singer in history.
According to Forbes, Rihanna net worth approximately 1.4 billion in 2022, making her the last self-made woman under 40 to become a billionaire. This figure is based on the value of her cosmetics company, De Ella Fenty Beauty, which is part of the LVMH conglomerate owned by Bernard Arnault, one of the world’s richest men.
Fenty was launched in 2017 as a collaboration with LVMH by Robyn Fenty (Rihanna’s real name), generating up to $550 million in revenue in its first year, outperforming other public figure brands such as Kylie Jenner.
As previously stated, one of the brand’s main selling points was the diversity of ethnicities and bodies, with a large number of models of color as well as plus size models wearing garments designed for that audience. However, Rihanna closed the Fenty fashion line last year but continues to work with the Savage X Fenty underwear lines, as well as the Fenty Beauty and Fenty Skin beauty lines.
However, not all of the money is for her. The singer is involved in charitable work, and in 2012 she established the Clara Lionel Foundation, a non-profit organization that “supports and funds climate resilience and climate justice projects in the United States and the Caribbean.” She has also donated millions of dollars to hospitals in Barbados.
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