Rihanna appears to be enjoying her investment in real estate. Three months ago, she acquired a Beverly Hill mansion for $13 million. She has now acquired a $10 million home next to the mansion she recently acquired.
The Barbadian’s latest acquisition features a family-size house with four bedrooms. The property, which was originally built in the 1930s, also comes with 4.5 baths and just over 3,500 square feet of living space.
The property sits on a half-acre estate and was first sold for $5.1 million to a non-famous couple in 2015. Selling the property a price of $10 million means that the owners nearly made twice the amount they initially acquired the property for.
According to Dirt.com, “Circa 2015 photos suggest the house is a decidedly luxurious, if not exactly thrilling, Tudor-style structure with formal living and dining rooms, plus an eat-in kitchen that opens to the family room, which in turn opens to a spacious backyard with an oversized swimming pool set below a terraced patch of grassy lawn.”
Rihanna, apart from her $23 million Beverly Hills compound, owns other luxury properties, including a mansion in her native Barbados, a $6.8 million villa in the Hollywood Hills, and a high-floor flat in L.A.’s Wilshire Corridor. Her main residence, however, remains a $5.2 million condo unit at Century City’s exclusive The Century condo complex, according to The Hollywood Reporter.
Rihanna was recently certified by Forbes as the richest female musician in the world. Her fortune adds up to $600 million, ahead of the likes of Madonna ($570 million), Céline Dion ($450 million) and Beyoncé ($400 million).
Following her hit song “Work” in 2016, the famous musician has evolved into a serial entrepreneur. Her source of wealth, according to Forbes, comes from music, cosmetics and her clothing lines. Rihanna has sold more than 60 million albums and 215 million digital tracks, according to her label, Roc Nation. This places her as the second best-selling digital artiste globally.
She got her music career off to a good start after she was signed by billionaire rapper Jay-Z. She became a global hit with her debut album “Pon de Replay.” In 2016, she reportedly made an estimated $22.3 million from her music as well as raking in $137 million in revenue from her “Diamond” tour.
In 2016, she partnered with French luxury goods Louis Vuitton Moet Hennessy (LVMH) run by billionaire Bernard Arnault to create a cosmetic line called Fenty Beauty, which is reportedly worth $3 billion. The cosmetic line initially sold foundation shades and later expanded to include lipstick, lip gloss, body glitter, and more.
In its first year of operation, Fenty Beauty generated more than $550 million. Forbes estimates that Rihanna has around a 15% stake in LVMH. In 2019, Rihanna became the first Black woman to create a clothing brand for LVMH called Fenty and also announced new high-end clothing, shoes, and accessories.
Also, her Savage X Fenty lingerie line has an annual revenue of about US$150 million. Additionally, she earns millions of dollars from endorsement deals from brands and companies like River Island, Mac, Armani and Balmain. In 2014, she signed a $1 million endorsement deal to work as Puma’s creative director.
Aside from music and cosmetics, other big money-making moves for Rihanna are her real estate businesses. She buys properties and resells for a profit.
The Barbadian singer is regarded by Forbes as one of the most publicly charitable celebrities. She was named Harvard Humanitarian of the Year in 2017 for her work supporting education and health care in the Caribbean and developing countries.