Photo Credit: Vimeo Fenty Beauty by Rihanna
Rihanna has been noted as the World’s Richest Female Musician, making up to $600 million as a singer, style icon and makeup entrepreneur.
She evolved into the makeup industry with Fenty Beauty, which she co-owns with LVMH, a French luxury goods group ran by billionaire Bernard Arnault. Fenty was founded in 2017 at Sephora and generated $100 million in sales in its first few weeks. It also made an estimated $570 million in 2018.
Millions in earnings from her releases and tours as a singer also makes up the remaining of her fortune.
“They extended the offer to me and it was a no-brainer because LVMH is a machine,” Rihanna told The New York Times Style Magazine. “Bernard Arnault was so enthusiastic; he trusted me and my vision.”
The Barbados native and LVMH announced a new clothing house called Fenty in May 2019, which is based out of Paris. Rihanna also owns a lingerie line called Savage X Fenty with Los Angeles online fashion firm, TechStyle Fashion Group. She will soon be the first black woman in charge of a top luxury fashion house.
She recently made Forbes 2019 list of America’s Richest Self-Made Women. 11 out of 80 women made money from beauty and skin care products. Rihanna, Kylie Jenner, Kim Kardashian, and Kathy Fields was among the few.
“What Fenty Beauty did to beauty, Fenty lifestyle is going to do to fashion,” says Wissink. “It’s going to raise the bar for what it looks like to build a brand that’s inclusive, game changing, global and iconic.”