Music scholar, Rihanna becomes the youngest self-made billionaire with a net worth of $1.4bn

American singer-songwriter Rihanna, who has received numerous awards, has been dubbed the nation’s youngest self-made billionaire after her impressive $1.4 billion net worth.

Robyn Rihanna Fenty, who turned 34 in February, made her money through her own music and business endeavors. For the third year running, Forbes’ annual list of America’s richest self-made women featured Rihanna, who serves as CEO of her brand, Fenty Beauty.

She came in at number 21 overall and is the only billionaire under the age of 40 on the list. Rihanna has a $1.4 billion net worth, some of which comes from her lucrative music career. Her three retail businesses, Fenty Beauty, Fenty Skin, and Savage X Fenty, account for the most of it.

Bloomberg stated earlier in March that Savage X Fenty lingerie was collaborating with experts on an IPO that might be valued at $3 billion. According to CNBC, Rihanna owns 30% of that business.

She also owns 50 percent of the $550 million in revenue 2020 brand Fenty Beauty. The luxury apparel behemoth LVMH from France owns the remaining half of the business.

Rihanna’s impressive figures are also reflected in her music career, having nine Grammy awards to her name. In 2019, she told The New York Times’ T Magazine that because she never planned on making a fortune, reaching financial milestones was “not going to stop me from working.”

“My money is not for me; it’s always the thought that I can help someone else. The world can really make you believe that the wrong things are priority, and it makes you really miss the core of life, what it means to be alive,” she said.

Rihanna started a philanthropy fund called the Clara Lionel Foundation (CLF) in 2012. The foundation aims to “support and fund groundbreaking education and climate resilience initiatives,” according to its website.

Sales from the singer’s lipstick collection with MAC Cosmetics were one of its first projects, which debuted a year after the foundation’s founding and raised $60 million for women and children affected by HIV/AIDS. And in January, CLF collaborated with Jack Dorsey, co-founder of Twitter, on the #SmartSmall campaign to contribute a total of $15 million to 18 different climate justice organizations.

In order to honor Rihanna for her efforts to advance cancer care in Barbados, where she was born, and for establishing a college scholarship to enable Caribbean youngsters to study in the US, Harvard University awarded her the Humanitarian of the Year for 2017.

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