Rihanna is now America’s youngest self-made billionaire

America’s youngest self-made billionaire woman didn’t grow up in a Manhattan skyscraper or the Hollywood Hills. Instead, Rihanna amassed her fortune from her own music and her business ventures.

Recently, the 34-year-old singer and CEO of Fenty Beauty appeared on Forbes’ annual list of America’s Richest Self-Made Women for the third year in a row. She was ranked 21st overall and is the only billionaire on the list under the age of 40. Part of Rihanna’s net worth of $1.4 billion comes from her successful music career. Most of it comes from her three retail companies: Fenty Beauty, Fenty Skin, and Savage X Fenty.

In March, Bloomberg reported that Savage X Fenty lingerie was working with advisers on an initial public offering 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 conglomerate LVMH.

The numbers are impressive, but Rihanna has said her focus isn’t on ratings and accolades. In 2019, she told The New York Times T magazine that since she never planned on making a fortune, hitting financial milestones “wouldn’t stop me from working.”

The nine-time Grammy winner also said she wants to donate that money to worthy causes anyway. “My money isn’t for me; it’s always the idea that I can help someone else,” she said. “The world can really make you believe that the wrong things are the priority, and it makes you lose the core of life, what it means to be alive.”

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In 2012, Rihanna started a philanthropic fund, the Clara Lionel Foundation (CLF). Its goal is to “support and finance innovative education and climate resilience initiatives,” according to its website.

One of her first initiatives, launched a year after the foundation began, raised $60 million for women and children affected by HIV/AIDS through sales of the singer’s lipstick line with MAC Cosmetics. And in January, CLF partnered with Twitter co-founder Jack Dorsey’s #SmartSmall initiative to donate a combined $15 million to 18 different climate justice groups.

That money is earmarked for organizations “focused and led by women, youth, Black, Indigenous, people of color, and LGBTQIA+ communities” in the US and the Caribbean, according to the CLF website.

“In the [CLF]much of the work is based on the understanding that climate disasters, which are increasing in frequency and intensity, do not affect all communities equally, with communities of color and island nations facing the brunt of climate change,” said Rihanna in January. statement.

The next youngest billionaire on the Forbes list is Kim Kardashian, 41, who has a net worth of $1.8 billion. Kardashian and her sister Kylie Jenner, who, at 24, is the youngest non-billionaire on the list with a net worth of $600 million, have also found success in both entertainment and retail, including their respective makeup lines.

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