Rihanna, the youngest self-made billionaire woman in the USA, achieved her fortune not by Manhattan high rise or the Hollywood Hills but by her own music and entrepreneurial ventures.
This talented, 34-year-old singer and Fenty Beauty CEO Rihanna ranked 21st place on Forbes’ annual list of America’s richest self-made women for the third year in a row. The exciting thing is that she is the only billionaire on the list under age 40.
Actually, how did this young woman earn that much net worth, $1.4 billion? Aren’t you curious to hear it?
It won’t be a secret anymore. Her successful music career owns some of her net worth, but credit for earning most of the net worth goes to her retail companies, namely, Fenty Beauty, Fenty skin, and Savage X Fenty.
According to Bloomberg, in March, the one retail business owned 30% by her, Savage X Fenty, was working with advisors on an IPO that could be valued at $3 billion. Plus, as a successful entrepreneur, Rihanna proudly owns half of another top-level business, Fenty Beauty which earned $550 million in revenue in 2020. When it explores more, she also owns half of the French luxury fashion conglomerate LVMH.
Many people chase the numbers because of their impressiveness. But Rihanna is not a woman like that. She does not set her targets, focusing on valuations and accolades. That is proved clearly in her statements published in The New York Times’ T Magazine, “Reaching financial millstones do not ever eligible to stop me from working because I never planned my fortune based on financial achievements.”
You have the power to increase the value of the money. But is it impossible? You may think if you have a magic stick, surely you can. But Rihanna shows a path to value your money more than its nominal value. “According to me, money that I earned is not for me, you can use the money to help someone else.” – said Rihanna. That’s why the nine-time Grammy Award winner Rihanna has become more special to this world.
The world can make you believe that the wrong things are a priority, but if you do not do what you want, it makes you really miss the core of your life. Do not forget what
Rihanna does not limit her works to only words. It was a significant force in getting her to where she is today. So, proving what she said earlier, Rihanna established a philanthropy fund, namely, The Clara Lionel Foundation (CLF), with the primary objective to support and find ground-breaking education and climate resilience initiatives.
After a year launched, a foundation as its first initiative, CLF raised a $60 million fund by selling the singer’s lipstick line with MAC Cosmetics. This project is for women and children affected by HIV/AIDS.
In addition, they donated $15 million to 18 different climate justice groups in January. But this project is done by CLF paired up with Twitter co-founder Jack Dorsey’s#SmartSmall initiative.
According to the website of CLF, the foundation’s money is focused on and is led by women, youth, Black, Indigenous, people of color, and LBGTQIA+ communities in the USA and Caribbean.
Further, she said about her foundation in a January statement, the works of The Clara Lionel Foundation are rooted in the realization that the climate disasters that grow in frequency and intensity do not affect all communities equally and similarly, with communities of colors ad island nations facing the brunt of climates change.
In addition to that, Kim Kardashian is the next youngest billionaire on Forbes’ list. She celebrated her 41-year birthday as a lucky woman with a net worth of $18 billion. Liker Kim Kardashian, her sister, Kylie Jenner, also started her journey to success, who is at age 24, is the youngest non-billionaire on the list with a net worth of $600 million. These billionaire sisters discovered their success in entertainment and retail, including in their respective makeup lines.