Rihanna, the 34-year-old singer, and CEO of Fenty Beauty has been named the youngest billionaire in the US. Full of self-confidence, she surpassed the so-called self-made billionaires who grew up in the lap of luxury. A queen in every respect who did not grow up in palaces, today she can certainly build one for herself, thanks to a successful music career and entrepreneurial ventures.
Rihanna's fortune of $1.4 billion puts her in the 21st position overall, and she is the only billionaire under the age of 40. The richest musician in the world has eight record-breaking platinum albums in her career, but her entrepreneurial endeavors have brought her to this position.
$1.4 billion net worth
Without a doubt, the Barbadian beauty owes her billionaire status and $1.4 billion net worth to Fenty Beauty, Fenty Skin, and Savage X Fenty brands. Rihanna owns half of Fenty Beauty, which earned an impressive $550 million in 2020.
The other half belongs to the French luxury fashion conglomerate LVMH. Surprisingly, her ready-to-wear fashion line Fenty, launched in 2019, closed its doors permanently two years after its launch. However, the underwear and cosmetics lines Savage X Fenty, Fenty Beauty, and Fenty Skin have continued to do well, so much so that she plans to open physical Savage x Fenty stores.
The nine-time Grammy Award winner once said that she wants to use the money for things that matter: “My money is not for me; it’s always the thought that I can help someone else,” she said. “The world can really make you believe that the wrong things are priority, and it makes you really miss the core of life, what it means to be alive”.
Apart from RiRi, the only woman to win the title of the youngest American billionaire was Kylie Jenner. The fact that she made her fortune herself has been widely discussed. The popular reality show "Keeping Up with the Kardashians" catapulted her to fame even before she succeeded in the world of cosmetics.
After Kylie Jenner was twice crowned the youngest billionaire on the planet, Forbes dethroned her and openly called her a liar who overstated her net worth and embellished her wealth in her tax filings. Today, the founder of Kylie Cosmetics is ranked 41st on Forbes' US list of Self-Made Women with a net worth of $600 million.