There are only select few names in the music industry that is known in almost every corner of the earth, and Rihanna is one of them. She has reached milestones in her music career, as well as in her business ventures that many artists only dream of. From the time that the then 15-year-old Riri decided to become a singer, up to the present, her wealth has certainly reached figures that some may consider as unbelievable.
Net Worth
The net worth of the Barbadian singer has reached a whopping $1.4 billion based on Forbes latest estimates. Rihanna, the most renowned export of Barbados, has achieved billionaire status thanks to the remarkable success of her cosmetics line, Fenty Beauty. Co-owned with French luxury retailer LVMH, the company doubled its revenue in 2022. Additionally, Rihanna holds a 30% stake in the Savage x Fenty lingerie line, which attained a $1 billion valuation in February 2021.
Diverse sources of income
Rihanna's wealth has primarily been driven by the remarkable success of her cosmetics brand, Fenty Beauty. In 2022, she secured the 21st spot on Forbes' list of America's Richest Self-Made Women, solidifying her status as one of the youngest self-made female billionaires.
The Barbados-born singer has been focusing on building her wealth outside of the music industry in recent years. In 2017, Rihanna co-founded Fenty Beauty, a cosmetics company, in partnership with the French luxury conglomerate LVMH.
According to Forbes, Fenty Beauty generated over $550 million in revenue in 2020. LVMH's latest earnings report reveals that the brand's revenue doubled in 2022, thanks to its expanded distribution network and successful product launches.
Rihanna's vision for Fenty Beauty was to create a brand that celebrates diversity, offering a wide range of shades to cater to all skin tones. Many of Fenty Beauty's products have garnered a loyal following and have gained popularity on platforms like TikTok. Notably, the singer's debut fragrance under the Fenty brand sold out within hours of its launch in August 2021.
Successful brand partnerships
In addition to her success with Fenty Beauty, Rihanna has built her wealth through various brand partnerships and business ventures. She owns a 30% stake in Savage x Fenty, a lingerie line that Bloomberg estimates could be valued at over $3 billion. Rihanna is also a co-owner of the music-streaming service Tidal, led by Jay-Z.
Starting in 2014, Rihanna embarked on a four-year partnership with Puma, serving as the brand's global ambassador and creative director, and launching her own line of footwear and apparel, Fenty x Puma. She has engaged in other notable collaborations, including a capsule collection with luxury footwear brand Manolo Blahnik and being the first Black ambassador for Dior.
Career highlights
In December 2004, at the age of 16, Rihanna recorded "Pon de Replay," a dance-pop, Caribbean-infused track, which became her debut song after reaching the president of Def Jam, Jay-Z. Impressed, Jay-Z flew her to meet with label executives, and she signed her first contract at just 16. The song soared to No. 2 on the Billboard Hot 100 in May 2005, when she was only 17. Rihanna won her first Grammy at the 50th annual Grammy Awards for "Umbrella," a collaboration with Jay-Z from her 2007 album, "Good Girl Gone Bad."
By 2014, Rihanna had become a platinum-selling artist and began establishing herself as a fashion icon, signing on as creative director and ambassador for Puma and launching her Fenty x Puma line.
In 2017, noticing a gap in the beauty industry for inclusive products, Rihanna launched Fenty Beauty, known for its broad inclusivity, especially the Pro Filt'R foundation. She founded Savage X Fenty in 2018, disrupting the lingerie industry with its focus on fearlessness, confidence, and inclusivity, showcasing diversity in its shows and campaigns. Rihanna's approach to Savage X Fenty mirrors her other projects, aiming to create something new and relatable that empowers everyone to feel confident and comfortable.
How it all started
Born Robyn Rihanna Fenty on Feb. 20, 1988, in Barbados, Rihanna grew up in challenging circumstances, with her father struggling with drug addiction and being physically abusive towards her mother. Despite these difficulties, Rihanna had a strong desire to pursue a career in music from a young age.
In 2003, at the age of 15, Rihanna met record producer Evan Rogers while he was vacationing in Barbados with his wife. She expressed to Rogers that a career in music was her lifelong dream, despite having no formal training in music or dance. Rogers was struck by Rihanna's presence and talent, leading to a pivotal moment in her career.
