At simply 31 years old, Rihanna is formally the richest feminine musician on Earth.
That is in line with a profile on Tuesday (June four) in Forbes, which estimates the singer’s huge warchest at around $600 million, putting RiRi north of such fellow music superstars as Madonna ($570 million), Celine Dion ($450 million) and Beyoncé ($400 million).
On the heels of the information that her early mentor Jay-Z has simply turn into the primary rap billionaire, the snapshot of Rihanna’s rise to riches focuses not on her music gross sales or live performance proceeds, however moderately her savvy transfer into style and partership with French luxurious items big LVMH.
Their collaboration on Fenty Beauty — which launched in September 2017 at LVMH-owned Sephora — was an out-of-the-box success, with the model racking up a reported $100 million in gross sales in simply its first few weeks.
Along with tapping into her huge social media presence, the singer has additionally taken nice strides to be inclusive with the Fenty Magnificence choices, releasing 40 completely different shades of basis in what one analyst instructed the journal was a possible shock to the normal magnificence system.
“It challenged the usual conference that you just solely wanted a really outlined set of shades to fulfill a market,” Jefferies analysis analyst Stephanie Wissink stated.
“Not solely did [Fenty Beauty] obtain significant gross sales, nevertheless it probably modified the trade completely.”
After simply 15 months in enterprise, Fenty Magnificence has reportedly racked up $570 million in gross sales, with the enterprise price an estimated $three billion for LVMH, which owns a reported 50% of the corporate to Rihanna’s estimated 15%, a determine her group wouldn’t verify.
Along with Fenty Magnificence, Rihanna — the primary black girl to go up a serious Parisian luxurious home — additionally co-owns the Savage X Fenty lingerie line with L.A.-based style agency TechStyle Style Group and has an upcoming clothes line with LVMH, Fenty, which can produce high-end garments, sneakers, equipment and jewellery.
The latter, which launched on-line in Might, will consists of sizes as much as 14, persevering with the singer’s push for inclusiveness evidenced within the Fenty Magnificence product line.