Rihanna Dethrones Kylie Jenner as Youngest Woman Self-Made Billionaire3 min read
Rihanna is the youngest girl to be named on Forbes‘ annual checklist of self-made billionaire gals in the U.S.—giving her a title as soon as bestowed upon Kylie Jenner, in advance of it was unceremoniously snatched absent.
Barbados-born Rihanna, 34, launched what would develop into a vastly productive pop vocation in the aughts, just before going on to grow on her fortune with her Fenty Magnificence cosmetics line, which she co-owns with French luxurious retailer LVMH.
In accordance to Forbes, the line produced far more than $550 million in revenue in 2020 by yourself, although her Savage x Fenty lingerie line, in which she holds a 30 percent stake, lifted cash at a $1 billion valuation in February 2021.
Rihanna sits amid a host of businesswomen on the prestigious organization publication’s America’s Richest Self-Built Women listing, on which she seems in 21st placement with a fortune of $1.4 billion.
Oprah Winfrey, 68, is 10th with $2.6 billion.
Rihanna, who has also launched charity Clara Lionel Basis considering the fact that hitting fame, spoke about her technique to prosperity in a 2019 job interview with the New York Times‘ T Magazine.
“My cash is not for me it really is normally the believed that I can enable anyone else,” she stated. “The planet can really make you believe that that the improper issues are priority, and it makes you truly skip the core of daily life, what it usually means to be alive.”
The next youngest individual to be named on Forbes‘ list is Kim Kardashian, 41, who sits in 16th posture with a $1.8 billion fortune, thanks in big component to her cosmetics and fragrance enterprise, KKW Beauty, and her shapewear organization, Skims.
Nowhere to be discovered on the listing is Kardashian’s sister Jenner, who in 2020 was named on Forbes‘ World’s Youngest Billionaires checklist, only for the title to be taken away amid the publication’s allegations of discrepancies on tax documents.
In 2019, Jenner marketed her stake in the natural beauty brand Kylie Cosmetics to the cosmetic enterprise, Coty, for about $600 million, for each The Hollywood Reporter. The income-out from the offer pushed Jenner’s fortune to billionaire status and the magnificence powerhouse was named by Forbes as the youngest billionaire at the age of 21.
But in 2020, a Forbes‘ expose recalculated the quantities and uncovered discrepancies in Jenner’s internet truly worth. The report examined revenue made prior to and immediately after the pandemic struck. Jenner’s fortune was, at the time of the posting, noted to be under $900 million, down below the billionaire rating.
The business enterprise publication accused Jenner, 24, of fudging the numbers on the tax returns and creating Kylie Cosmetics even larger than what the model definitely was.
In response to the Forbes report, the Kylie Pores and skin founder took to Twitter, in which she slammed the magazine for publishing what she identified as “inaccurate statements and unproven assumptions.”
Jenner’s attorney, Michael Kump, released an formal assertion to Folks and referred to the Forbes’ report as “grocery store tabloid.”
“It is unhappy that, of all factors, Forbes has devoted a few reporters to examine the effect of the coronavirus crisis on Kylie’s web worthy of,” said Kump.
Whilst Jenner defended her fortune, Forbes stood by its reporting. Chief Communications Officer Matt Hutchison stated in a statement on the publication’s site: “Our reporters noticed the inaccuracies and put in months uncovering the facts. We motivate the legal professional to re-browse the short article.”