in , ,

Rihanna Becomes World’s Richest Female Musician

Loading...

Rihanna has reportedly become the world’s richest female musician, according to Forbes.

The credible rating firm reported that her fortune adds up to $600 million, ahead of Madonna ($570 million), Céline Dion ($450 million) and Beyoncé ($400 million).

A bulk of Rihanna’s wealth reportedly comes from her partnership with the French luxury goods behemoth LVMH, which is run by billionaire Bernard Arnault.

Rihanna and LVMH co-own Fenty Beauty, which launched in September 2017 and became an overnight success.

Setting itself apart by releasing 40 shades of foundation, Fenty Beauty grossed a reported $100 million in sales within its first few weeks.

In addition to tapping into her massive social media presence, the singer has also taken great strides to be inclusive with the Fenty Beauty offerings, releasing 40 different shades of foundation in what one analyst told the magazine was a potential shock to the traditional beauty system.

“It challenged the standard convention that you only needed a very defined set of shades to satisfy a market. Not only did [Fenty Beauty] achieve meaningful sales, but it potentially changed the industry permanently.” Jefferies research analyst Stephanie Wissink said

After just 15 months in business, Fenty Beauty has reportedly racked up $570 million in sales, with the business worth an estimated $3 billion for LVMH, which owns a reported 50% of the company to Rihanna’s estimated 15%, a figure her team would not confirm, Billboard reports.

Loading...

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Applications Open For Pan-African Innov8Agric Challenge

Gianni Infantino Re-elected FIFA President