Rihanna becomes Forbes’ youngest self-made billionaire woman
Rihanna is now formally the youngest self-designed billionaire, in accordance to Forbes.
For its annual checklist of the country’s richest self-made ladies, which debuted in June, Forbes named the Fenty Attractiveness founder the youngest self-designed billionaire female, a title earlier presented to actuality star and businesswoman Kylie Jenner.
Jenner, then 21, was named the youngest-at any time self-created billionaire in 2019 — surpassing Facebook founder Mark Zuckerberg, who won the title at 23 — but Forbes later on revoked that title, releasing an write-up professing that the truth star and beauty business enterprise owner’s billionaire status and economic paperwork, on which her title relied, experienced been skewed.
At the time, Jenner and her lawyer claimed Forbes’ retraction was incorrect and the outlet’s statements about Jenner’s funds — as nicely as those of her firm, Kylie Cosmetics — had been wrong.
Forbes stood by its reporting, telling E! Information in Could 2020 that its “thoroughly-claimed investigation was induced by freshly-submitted paperwork that disclosed obvious discrepancies involving facts privately supplied to journalists and information publicly provided to shareholders.”
“Our reporters noticed the inaccuracies and put in months uncovering the specifics,” the outlet mentioned.
With a web worthy of of $1.4 billion, in accordance to Forbes, Rihanna has now been elevated as a result of her new music — which consists of Billboard chart-topping like “Umbrella, “Disturbia” and “Rude Boy” — and various entrepreneurial ventures to the best spot between girls.
The 34-yr-old entertainer is the CEO and co-owner, alongside with luxury merchandise conglomerate LVMH, of her Fenty Magnificence cosmetics line, which built major headlines in 2017 for building more than 40 foundation shades to align with a wide wide variety of pores and skin tones. Today, the model has 50 boundary-breaking shades and is often praised for revolutionizing the beauty field and shedding mild on a longtime lack of inclusive and various solutions amid previously existing brands.
The brand name also carries various other make-up products, which includes statement-creating lipsticks and lively highlighting powders.
Rihanna also owns a 30% stake in her Savage x Fenty lingerie line, which accrued $550 million in income in 2020, in accordance to Forbes. The company also “lifted money at a $1 billion valuation in February 2021” the outlet stated in June.
Furthermore, Rihanna is the mastermind driving Fenty Pores and skin, which she introduced in 2020. Separate from Fenty Natural beauty, the label exclusively focuses on skincare necessities this sort of as facial area cleansers, sunscreen, serum and a lot more.
The “Diamonds” singer also released a Fenty fashion line in 2019 with father or mother-corporation LVMH. Nonetheless, it was declared in 2021 that both equally events experienced mutually made the decision to end their partnership and shut down the business enterprise.
The singer says she is philanthropically driven as nicely. In 2012, she commenced the Clara Lionel Foundation, a nonprofit corporation that says it “supports and funds local climate resilience and weather justice initiatives in the U.S. and Caribbean,” according to its website.
“My income is not for me it truly is often the thought that I can help someone else,” Rihanna told New York Times’ T Journal in a 2019 interview.
“The environment can really make you consider that the incorrect factors are precedence, and it would make you really miss out on the main of life, what it means to be alive.”
On top rated of all her small business ventures, the 34-yr-previous gave start to her to start with kid with boyfriend and rapper A$AP Rocky in May perhaps. She introduced the pregnancy in late January.
In addition to Rihanna, Jenner’s sister Kim Kardashian, 41, sits at number 16 on Forbes’ listing of the country’s richest women, with a net value of $1.8 billion. 20-four-12 months-outdated Jenner created this year’s record, as well: With a web truly worth of $600 million, the splendor mogul landed in the major 50, at range 41.
ABC News has reached out to Kylie Jenner for comment and will update this story with a reaction.