Rihanna, the singer who has gifted listeners some of the greatest tracks like ‘Diamonds’, ‘Umbrella’, ‘We Found Love’, etc many others have officially become the richest female music artist in the world.
However, this good fortune is not only from music but her very own cosmetic production brand. She has built this cosmetic empire with hard work and dedication just like her prolific musical career.
Her fortune is estimated by Forbes Magazine and revealed on Wednesday which is said to be around $1.7 billion (£1.2bn).
Robyn Fenty, better known as Rihanna has launched her brand Fenty Beauty in 2017 and now it has become one of the raging cosmetic brands in the market. The motto behind establishing this business was to make “women everywhere included” of every body type and skin color.
The singer has earlier described make-up and cosmetics as a “weapon of choice for self-expression”. While growing up, she felt the need for a full choice of products for all varieties of skin types and tones.
Her brand boasted the availability of 40 different shades of foundation which has now become 50 shades. The brand is trying to “make skin look like skin.”
Her beauty brand is made with a partnership with French luxury conglomerate LVMH in 2017. She owns 50% of the share 100% of the inspiration of this brand, Fenty Beauty.
The brand has increased its sales up to $550m which is a huge leap and far more than any other celebrity-endorsed brand. Forbes Magazine has said that the company is worth “a conservative $2.8bn”.
There is also a lingerie line named ‘Savage X Fenty’ and the artist holds 30% of the total stake. Combining the stake with her makeup brand and 16 years of a rocket-fuelled musical career, Rihanna’s fortune rose to $1.7bn.
She is the second wealthiest female entertainer in the world after Oprah Winfrey who ranking at the top with a fortune estimated at $2.7 billion.
LVMH’s chairman and chief executive, Bernard Arnault is the world’s third-richest person with a fortune of $179 billion. Talking about Rihanna as a partner, “Everyone knows Rihanna as a wonderful singer, but through our partnership at Fenty Beauty, I discovered a true entrepreneur, a real CEO, and a terrific leader.”
Rihanna is not the only celebrity who made her fortune in the make-up industry as Kylie Jenner is also hailing in the business.