Rihanna’s transformation from a global music icon to a leading beauty mogul has been nothing short of remarkable. After solidifying her position in the music industry, Robyn Fenty, widely known as Rihanna, ventured into the beauty sector by launching her cosmetics brand, Fenty Beauty, in 2017. This move proved to be a game-changer, establishing her as a successful entrepreneur and billionaire, and significantly altering her career trajectory.
Rihanna’s success with Fenty Beauty has been profound. Within just four years, the brand achieved unprecedented success, helping Rihanna become one of the wealthiest women in entertainment. Forbes estimates her net worth at $1.7 billion, making her the richest female musician globally. She trails only behind media mogul Oprah Winfrey in the list of the wealthiest female celebrities.
The foundation of Rihanna’s fortune lies not solely in her music career but in her stakes in Fenty Beauty and her lingerie brand, Savage x Fenty. She holds a 50% share in Fenty Beauty, valued at approximately $1.4 billion, and a stake in Savage x Fenty, estimated at around $270 million. Despite her music career being a major factor in building her brand and initial popularity, it is these ventures that have primarily contributed to her immense wealth.
Fenty Beauty’s launch was notably backed by luxury conglomerate LVMH, which entered into a 50-50 joint venture with Rihanna. This partnership enabled the brand to offer a wide range of products catering to diverse skin tones and age groups, sold through both online platforms and luxury retailer Sephora. By 2018, Fenty Beauty had already generated $550 million in revenue, surpassing other celebrity-founded beauty brands such as Kylie Cosmetics, KKW Beauty, and Honest Co.
The beauty industry has seen a resurgence, with stocks of leading companies like Estée Lauder and L’Oréal hitting record highs. Smaller independent brands such as Beautycounter and Charlotte Tilbury have also reached valuations in the billions. This favorable market environment has been beneficial for Fenty Beauty, which is now valued at $2.8 billion, reflecting strong growth and continued success.
However, not all of Rihanna’s business ventures have been without challenges. In February 2021, LVMH and Rihanna announced the closure of Fenty, a high-end fashion and accessories line launched in 2019. The brand, which had its final collection released in November 2020, struggled to gain traction during the pandemic, leading to its early closure.
Despite these setbacks, Rihanna remains a prominent figure in the entrepreneurial world. Her success in building brands that resonate deeply with consumers underscores her significant impact on the fashion and beauty industries. While she has not released new music since 2016, her entrepreneurial achievements continue to affirm her status as a visionary in both the entertainment and business sectors. As noted by industry experts, Rihanna has created a brand larger than herself, significantly influencing fashion and beauty trends globally.
