American singer Rihanna has become the youngest self-made billionaire in the United States, thanks to the huge fortune that she accumulated from her music and entrepreneurial projects.
Weeks ago, the 34-year-old singer and CEO of Fenty Beauty made it to Forbes’ annual list of America’s richest self-made women for the third year in a row.
Ranked 21st in the women’s general rankings, she is the only billionaire on the list under 40, and her net worth is now $1.4 billion, according to CNBC.
She credits that to her successful music career, but most of it has come from the three retail companies Fenty Beauty, Fenty Skin and Savage X Fenty.
In March, Bloomberg reported that the clothing brand Savage X Fenty, founded by Rihanna, was working with advisors to conduct an initial public offering on the stock exchange that could be valued at $3 billion. Rihanna owns 30% of that company.
She also owns half of Fenty Beauty, which generated $550 million in revenue in 2020. The other half of the company is owned by French luxury fashion group Louis Vuitton.