Rihanna is going to be a billionaire in no time but for now … she has to make-do with the title for richest female musician in the world.
The magazine reports a large part of Rihanna’s wealth comes from her partnership with French luxury goods company LVMH, who co-owns the makeup brand Fenty Beauty with the singer. Fenty Beauty launched in September 2017 and it quickly became a viral success. The makeup brand reportedly racked up a whopping $100 million in sales in its first few weeks.
Last year, Fenty generated an estimated $570 million in revenue. The entire company is said to be worth over $3 billion, with Rihanna owning an estimated 15% of the company – a figure the “Work” singer’s spokesperson has since disputed.
The rest of Riri’s fortunes come from her career tourings, albums and her Savage X Fenty lingerie line, which she co-owns with Los Angeles-based online fashion firm, TechStyle Fashion Group.
In May, LVMH and Rihanna (born Robyn Rihanna Fenty) announced Fenty, a new clothing house that will make high-end clothes, shoes, accessories and jewelry.
“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 fashion line will exist under the same umbrella as famous brands such as Dior and Givenchy, marking LVMH’s first new house in more than 30 years.
Rihanna hasn’t put out an album since 2016’s Anti.
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