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5th Jun 2019
At just 31 years of age, Rihanna has positioned herself as the ultimate multi-hyphenate. She is a world-famous singer, has successfully dabbled in acting, become a history-making businesswoman, revolutionised the beauty industry, and can now call herself a fully-fledged designer.
As such, it should come as no surprise that via its 2019 list of America’s Richest Self-Made Women, Forbes has officially crowned her the world’s richest female musician. Worth approximately US$600 million (AU$857 million), the Barbadian star, who has her vast and varied talents to thank for her riches, beat out Madonna, Céline Dion and Beyoncé for the top spot.
The collection of 80 women ranging in age from 21 to 92 – the likes of which include Oprah Winfrey, Kylie Jenner, Taylor Swift and Ellen DeGeneres – are worth a combined US$81.3 billion. Rounding out the list, Serena Williams has also made history as the first athlete to make the annual cut, with a reported worth of approximately US$225 million (AU$321 million).
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While Rihanna originally made a name for herself in the music industry, it was the 2017 launch of Fenty Beauty, co-owned by LVMH, that catapulted her wealth to stratospheric levels. Changing the beauty industry as we know it with the introduction of 40 inclusive shades of foundation, in its first few weeks the brand amassed a reported US$100 million in sales.
“It challenged the standard convention that you only needed a very defined set of shades to satisfy a market,” Jefferies research analyst Stephanie Wissink told Forbes. “Not only did [Fenty Beauty] achieve meaningful sales, but it potentially changed the industry permanently.”
Mastering the art of monetising her reach, Rihanna followed Fenty Beauty with the successful launch of the Savage X Fenty lingerie line alongside TechStyle Fashion Group, before becoming the first black woman to helm a major LVMH fashion house when she unveiled Fenty Maison, in May.
“What Fenty Beauty did to beauty, Fenty lifestyle is going to do to fashion,” Wissink added. “It’s going to raise the bar for what it looks like to build a brand that’s inclusive, game changing, global and iconic.”
Given that Rihanna only just debuted Fenty Maison, is currently working on a reggae album, and shows no signs of slowing down when it comes to new releases for both Fenty Beauty and Savage X Fenty – its likely the star’s wealth will only continue to climb. So be sure to watch this space.