Rihanna becomes Forbes’ youngest self-made billionaire woman
Rihanna is now officially the youngest self-created billionaire, according to Forbes.
For its once-a-year record of the country’s richest self-made women of all ages, which debuted in June, Forbes named the Fenty Splendor founder the youngest self-designed billionaire girl, a title beforehand offered to actuality star and businesswoman Kylie Jenner.
Jenner, then 21, was named the youngest-at any time self-created billionaire in 2019 — surpassing Fb founder Mark Zuckerberg, who won the title at 23 — but Forbes afterwards revoked that title, releasing an write-up claiming that the truth star and magnificence business enterprise owner’s billionaire standing and economical paperwork, on which her title relied, had been skewed.
At the time, Jenner and her attorney claimed Forbes’ retraction was incorrect and the outlet’s statements about Jenner’s funds — as properly as people of her business, Kylie Cosmetics — had been phony.
Forbes stood by its reporting, telling E! News in May 2020 that its “extensively-documented investigation was brought on by recently-submitted paperwork that revealed evident discrepancies in between information privately supplied to journalists and information and facts publicly equipped to shareholders.”
“Our reporters spotted the inaccuracies and spent months uncovering the points,” the outlet stated.
With a net well worth of $1.4 billion, according to Forbes, Rihanna has now been elevated by way of her new music — which involves Billboard chart-topping like “Umbrella, “Disturbia” and “Rude Boy” — and numerous entrepreneurial ventures to the major place among the women.
The 34-12 months-old entertainer is the CEO and co-proprietor, together with luxurious products conglomerate LVMH, of her Fenty Splendor cosmetics line, which created significant headlines in 2017 for producing about 40 basis shades to align with a extensive range of skin tones. Now, the manufacturer has 50 boundary-breaking shades and is typically praised for revolutionizing the attractiveness market and shedding light on a longtime absence of inclusive and various items among the beforehand present brands.
The brand name also carries quite a few other makeup merchandise, like assertion-creating lipsticks and vivid highlighting powders.
Rihanna also owns a 30% stake in her Savage x Fenty lingerie line, which amassed $550 million in revenue in 2020, according to Forbes. The corporation also “lifted money at a $1 billion valuation in February 2021” the outlet said in June.
In addition, Rihanna is the mastermind guiding Fenty Skin, which she introduced in 2020. Separate from Fenty Magnificence, the label entirely focuses on skincare necessities these types of as experience cleansers, sunscreen, serum and extra.
The “Diamonds” singer also introduced a Fenty vogue line in 2019 with guardian-corporation LVMH. Even so, it was announced in 2021 that both events experienced mutually made the decision to finish their partnership and shut down the business enterprise.
The singer suggests she is philanthropically pushed as properly. In 2012, she began the Clara Lionel Basis, a nonprofit group that says it “supports and funds weather resilience and local weather justice tasks in the U.S. and Caribbean,” according to its web site.
“My dollars is not for me it truly is normally the believed that I can assistance someone else,” Rihanna told New York Times’ T Magazine in a 2019 job interview.
“The world can really make you think that the incorrect matters are precedence, and it would make you seriously miss the main of lifestyle, what it suggests to be alive.”
On top of all her business ventures, the 34-12 months-previous gave birth to her initial baby with boyfriend and rapper A$AP Rocky in May well. She declared the pregnancy in late January.
In addition to Rihanna, Jenner’s sister Kim Kardashian, 41, sits at selection 16 on Forbes’ record of the country’s richest females, with a internet value of $1.8 billion. Twenty-four-yr-aged Jenner produced this year’s listing, much too: With a internet value of $600 million, the attractiveness mogul landed in the leading 50, at amount 41.
ABC News has attained out to Kylie Jenner for comment and will update this tale with a response.