Rihanna becomes Forbes’ youngest self-made billionaire woman3 min read
Rihanna is now formally the youngest self-manufactured billionaire, according to Forbes.
For its once-a-year list of the country’s richest self-manufactured women of all ages, which debuted in June, Forbes named the Fenty Natural beauty founder the youngest self-created billionaire female, a title earlier given to reality star and businesswoman Kylie Jenner.
Jenner, then 21, was named the youngest-ever self-created billionaire in 2019 — surpassing Facebook founder Mark Zuckerberg, who gained the title at 23 — but Forbes afterwards revoked that title, releasing an report professing that the truth star and splendor business owner’s billionaire standing and fiscal documents, on which her title relied, experienced been skewed.
At the time, Jenner and her attorney claimed Forbes’ retraction was improper and the outlet’s statements about Jenner’s finances — as properly as individuals of her organization, Kylie Cosmetics — have been false.
Forbes stood by its reporting, telling E! News in May well 2020 that its “extensively-noted investigation was activated by newly-submitted documents that revealed obtrusive discrepancies between data privately supplied to journalists and facts publicly provided to shareholders.”
“Our reporters noticed the inaccuracies and invested months uncovering the points,” the outlet said.
With a net value of $1.4 billion, in accordance to Forbes, Rihanna has now been elevated by means of her music — which contains Billboard chart-topping like “Umbrella, “Disturbia” and “Rude Boy” — and many entrepreneurial ventures to the prime place between girls.
The 34-calendar year-aged entertainer is the CEO and co-owner, together with luxurious merchandise conglomerate LVMH, of her Fenty Elegance cosmetics line, which created key headlines in 2017 for making over 40 foundation shades to align with a large wide variety of pores and skin tones. Now, the brand name has 50 boundary-breaking shades and is normally praised for revolutionizing the natural beauty marketplace and shedding mild on a longtime deficiency of inclusive and diverse products among the beforehand present models.
The brand name also carries various other makeup goods, which includes assertion-generating lipsticks and lively highlighting powders.
Rihanna also owns a 30% stake in her Savage x Fenty lingerie line, which accumulated $550 million in profits in 2020, in accordance to Forbes. The enterprise also “lifted money at a $1 billion valuation in February 2021” the outlet mentioned in June.
In addition, Rihanna is the mastermind guiding Fenty Skin, which she released in 2020. Individual from Fenty Magnificence, the label only focuses on skincare necessities these types of as deal with cleansers, sunscreen, serum and more.
The “Diamonds” singer also launched a Fenty trend line in 2019 with dad or mum-corporation LVMH. On the other hand, it was declared in 2021 that both parties experienced mutually made a decision to conclude their partnership and shut down the business enterprise.
The singer suggests she is philanthropically pushed as very well. In 2012, she commenced the Clara Lionel Basis, a nonprofit organization that suggests it “supports and funds weather resilience and local weather justice tasks in the U.S. and Caribbean,” according to its site.
“My income is not for me it is constantly the imagined that I can support anyone else,” Rihanna informed New York Times’ T Journal in a 2019 interview.
“The entire world can definitely make you imagine that the incorrect issues are priority, and it can make you genuinely skip the core of life, what it usually means to be alive.”
On best of all her company ventures, the 34-calendar year-aged gave beginning to her very first child with boyfriend and rapper A$AP Rocky in Might. She declared the pregnancy in late January.
In addition to Rihanna, Jenner’s sister Kim Kardashian, 41, sits at amount 16 on Forbes’ listing of the country’s richest girls, with a web really worth of $1.8 billion. 20-four-year-aged Jenner built this year’s listing, far too: With a internet well worth of $600 million, the magnificence mogul landed in the best 50, at quantity 41.
ABC Information has arrived at out to Kylie Jenner for comment and will update this tale with a reaction.