Rihanna has been confirmed as the world’s wealthiest female musician, according to Forbes, edging out big-hitters like Beyonce, Taylor Swift, Celine Dion and Madonna.
While her Grammy-winning solo songs and collaborations with artists like Eminem, Calvin Harris and Drake factor in, it turns out Rihanna owes most of her US $600 million wealth to a more recent success: her cosmetics line, Fenty Beauty.
According to Forbes, Fenty Beauty generated US$570 million in revenue in 2018, an enormous sum given it only launched in September 2017. Forbes estimates the business is worth more than US$3 billion, of which Rihanna owns about 15%.
And it seems Rihanna’s wealth is only set to skyrocket. Last month she announced Fenty, her own high-end clothing label in collaboration with luxury fashion house LVMH. And then of course there’s her lingerie line, Savage X Fenty.
Speaking to the phenomenal success of Fenty Beauty, renowned for its diverse range of skin shades Stephanie Wissink, a research analyst at Jefferies, told Forbes:
“It challenged the standard convention that you only needed a very defined set of shades to satisfy a market. Not only did [Fenty Beauty] achieve meaningful sales, but it potentially changed the industry permanently.”
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