In February, a few days before her 35th birthday, Rihanna took the stage during the Super Bowl halftime and announced to the world that she was pregnant for the second time with her show. Estimates are that the famous singer and business woman will give birth in July or early August. Rihanna has made history in the USA not only with her Super Bowl performance, but also with her earnings. The famous singer has been on the agenda lately, especially with her cosmetics brand and the wealth she gained from this brand. Rihanna became the “Youngest Self-Made Billionaire Businesswoman” in the USA last year; In other words, she made history with the title of the youngest woman to become a billionaire with the income she earned without inheriting from a family elder… Rihanna, who was born on February 20, 1988, in Barbados, as the daughter of an accountant mother and a warehouse manager father, increased her fortune to 1.4 billion dollars.
EARNINGS FROM COSMETIC COMPANIES
In fact, Rihanna, who has been on the list of the richest self-made female billionaires since 2019, is currently the only name under the age of 40 on the list and is 20th on the list in question. It is impossible to know whether Robyn Rihanna Fenty predicted that this venture would carry her to the billionaire list when she founded the cosmetics company Fenty Beauty in 2017…
Part of Rihanna’s wealth consists of her earnings from music. Most of its earnings come from Fenty Beauty, Fenty Skin and Savage X Fenty. Their company produces cosmetics and skin care products, as well as women’s underwear. Rihanna is the CEO of Fenty Beauty and owns half of the company. The other half of the company is owned by French fashion giant LVMH, which includes brands such as Louis Vuitton, Dior, Hublot and Bulgari (it’s worth noting here that LVMH owner Bernard Arnault is also the second richest person in the world). Fenty Beauty’s products are also sold at Sephora, which is owned by LVMH. The company had an annual profit of $550 million in 2018, surpassing other celebrity cosmetics brands such as Kylie Jenner and Kim Kardashian.
The Barbadian singer is expected to increase the value of the women’s underwear brand Savage X Fenty, in which he holds 30 percent of the shares, to 3 billion dollars. Brand promotions are not an issue for him. With more than 152 million followers on Instagram and 108 million on Twitter, Rihanna’s short videos are enough to advertise her products, which Rihanna does often. US product consultant Shannon Coyne points out that Rihanna’s marketing is based on “different people”.
In fact, not everything Rihanna touches turns into gold. LVMH and Rihanna announced that they closed their luxury fashion and accessories brand Fenty, which they opened in 2019, in November 2020. The company, which was opened before the Covid-19 pandemic, suffered greatly from the epidemic, like other luxury fashion brands. However, Fenty Beauty, like other cosmetic brands, quickly healed the wounds of the epidemic.
ENTERED THE SECTOR WITH AID CAMPAIGNS
Rihanna founded the Clara Lionel Foundation (CLF), which she named after her grandmother and grandfather, in 2012. In one of the charity campaigns carried out by CLF and MAC together, 60 million dollars were collected for HIV-positive women and children with the sale of a lipstick produced in the name of Rihanna. In other words, the famous singer started to give signals of cosmetics patronage from those years.
It would not be wrong to say that the famous singer, who has 9 Grammy awards and an Oscar nomination, is quite modest in his approach to money. In a statement to the US media in 2019, the famous singer said that he never made any plans to become wealthy and that reaching a financial milestone would not prevent him from working. Rihanna also stated that she wants to donate to areas she considers important and said, “My money is not actually mine; “There’s always a thought behind it like ‘Can I help someone else,'” he said. The successful singer and businesswoman continued her assessment as follows:
“The world can really make you believe that the wrong things take priority and make you miss the essence of life, which is to be alive.”
Rihanna’s cosmetics boss may be pissing off her fans. Because the successful singer has not released a new album since her release Anti album in 2016. From a financial standpoint, Rihanna has built a big brand for herself. Coyne comments on the singer’s success in this industry as “Rihanna has created a real style in the field of fashion and beauty.”
Sources: Forbes, CNBC
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