When Fenty Beauty explosively arrived to the scene in 2017, the cosmetic brand’s motto of inclusivity was an ultra game-changer. From its outset, the diversified marketing and unique storytelling signaled the brand’s propitious future. Who knew years later the makeup company’s fortune would elevate Rihanna to billionaire status?
On Wednesday, Forbes reported that the multi-hyphenate is officially worth an estimated $1.7 billion — making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer. While her musical career catapulted her into the industry, roughly $1.4 billion of her worth comes from the value of Fenty Beauty, which she owns 50%. The remainder of her earnings is divvied between her stake in her stake in her sprawling lingerie line Savage x Fenty (worth an estimated $270 million) and revenue as a renowned artist and actress.
Fenty Beauty is a 50-50 joint venture with French luxury goods conglomerate LVMH (run by Bernard Arnault, the world’s second-richest person). Its original offering of an impressive 40 shade range was heralded as one of the first cosmetic lines to commit itself to catering to women of color who were often excluded from modern products.
“She was one of the first brands that came out and said ‘I want to speak to all of those different people,’” Shannon Coyne, cofounder of Bluestock Advisors (a consumer products consultancy) told Forbes. “A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark. We all know that’s not reality.”
While the fruits of the Bajan icon’s lauded labor has made her a billionaire, we still can’t help but wonder when are we ever going to receive new music. It’s been five years since Anti debuted and it has been acutely distressing to await for new songs to queue into our playlists. Most recently, the mogul announced the imminent release of her latest venture into the fragrance realm: Fenty eau de parfum.
