Robe Fenty, famously known as Rihana, becomes a billionaire. After she started her cosmetic company in 2017 that was named “Fenty Beauty”. Now, this unintended consequence of creating a company drove her to the category of Billionaire.
Rihana has a net worth of $1.7 billion now. According to Forbes, Rihana is the wealthiest female musician in the world. Now she is on the second rank from Oprah Winfrey from being the richest female entertainer. The music industry has not been the reason for her in becoming Billionaire. The position that she got is due to the value of her cosmetic company Fenty Beauty. The rest portion of her economy lies in her stake in her lingerie company, Savage x Fenty, which has a value of $270 million.
Rihana was born in Barbados. Rihana is not the only celebrity to have been on social media with high followers, she has 101 million followers on Instagram, further on Twitter, she has been followed by 102.5 million people. Rihana is the most successful beauty entrepreneur to become a billionaire. Fenty Beauty is a joint venture of Rihana and French Luxury goods Conglomerate LVHM. French Luxury goods Conglomerate LVHM has been running by Bernard Arnault, who has been the world’s second-richest person. The products of Fenty Beauty consist of a wide range of colours and foundations in 50 shades.
Rihana’s cosmetic company is also available online and also o the Sephora stores. LVMH has also owned Sephora stores, the product of the company has also been the on-spot success. In the starting period of 2018, the company became capable of generating more than $550 million in revenues. Along with Fenty Beauty, owned by Rihana, there have been many more beauty companies of celebrities which include names like Kylie Jenner’s Kylie Cosmetics, Jessica Alba’s Honest Company and Kim Kardashian West’s KKW Beauty.
Shannon Coyne, the cofounder of consumer products consultancy Bluestock Advisors, said that many women felt there were no lines out there that catered to their skin tone. It was light, medium, medium-dark, dark. All knew that’s not reality.