Robyn Fenty, better known as Rihanna, joins elite company as the newest billionaire with an estimated $1.7 billion net worth.
I’m addition to Rihanna’s stellar music career, the launch of her Fenty Beauty line in 2017 is what catapulted the singer/entrepreneur into the billionaire stratosphere. The epic milestone puts the Barbados native as the wealthiest female musician in the world and second wealthiest female entertainer, behind Oprah Winfrey.
Fenty Beauty shares a 50-50 joint venture with French luxury goods conglomerate LVMH which is headed by Bernard Arnault, who has just recently jumped ahead of Jeff Bezos as the world’s richest person in the world. The cosmetics line is available online and at LVMH-owned Sephora stores.
“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. She was one of the first brands that came out and said, ‘I want to speak to all of those different people.’”Shannon Coyne, Bluestock Advisors Cofounder