Rihanna created a billion-dollar empire with not just her music but her savvy business sense.
According to Forbes, as of October 2024, Rihanna currently has a net worth of $1.4 billion. While Rihanna is best known for being a singer, her financial success is mainly thanks to her cosmetics brand, Fenty Beauty.
Rihanna launched Fenty, which gets its moniker from her last name, in September 2017. She co-owns the brand with French luxury retailer, LVMH. Fenty’s products first dropped in Sephora.
The beauty brand was well-received by consumers due to its inclusive shade range. Within its first month, Fenty’s sales were reported at $72 million, per The Guardian. Fenty’s groundbreaking achievement in the beauty industry continued as new products and lines were introduced including haircare and skincare.
Rihanna didn’t stop there. In 2018, she launched her Savage X Fenty lingerie line. Like Fenty, the brand focuses on creating inclusive shades and sizing. The following year, Rihanna promoted Savage X Fenty at New York Fashion Week. In the runway show, stars Bella Hadid, Cara Delevingne, Laverne Cox, Normani and 21 Savage strutted on the catwalk. The fashion show was later available to stream on Amazon Prime.
Rihanna was declared a billionaire by Forbes in 2021. The outlet reported that the Grammy winner was worth around $1.7 billion dollars, with a majority of her money coming from Fenty. Her music catalog, acting career and Savage X Fenty also contributed to her success.
In February 2022, Rihanna announced that the brand would also be available for purchase at Ulta in addition to Sephora. (Fenty would later be available to Ulta stores found inside Target as well.)
Later that year, Rihanna shared that Fenty would be available in 8 African countries which included Ghana, Kenya, Botswana, South Africa, Namibia, Nigeria, Zambia, and Zimbabwe. Fenty is currently available in 17 different countries.
As Fenty continued to expand, so did its revenue. Forbes shared that the makeup company doubled its profits. Savage x Fenty also brought in $125 million in 2022.
Rihanna has been on hiatus from music for nearly eight years. Her last album Anti dropped in January 2016. However, she gave fans a taste of new music when she released “Lift Me Up” for the Black Panther: Wakanda Forever soundtrack. The tune was nominated for an Academy Award for Best Original Song.
Earlier this year, Rihanna — who returned to the stage at the Super Bowl LVII halftime show — teased to fans her next album was in the works but she wants to take her time in the music studio.
“I think that music, for me, is a new discovery,” she said to Entertainment Tonight in June 2024. “I’m rediscovering things. I have been working on the album for so long that I kinda put all that stuff aside and now I’m prepared to go back in the studio. I’m gonna start — give me a second!”
