Fenty Beauty was founded in 2017 by Robyn Fenty, better known by her stage name Rihanna, with the goal of making “women everywhere (feel) included.” Unintentionally, the beauty brand has assisted her in becoming one of the world’s most prestigious titles: billionaire.
According to Forbes, Rihanna is now worth $1.7 billion, making her the world’s wealthiest female artist and second only to Oprah Winfrey as the richest female entertainer. Although it wasn’t Riri’s music that earned her the prestigious status.
The value of Fenty Beauty, of which she currently owns 50%, accounts for the majority of her riches (an estimated $1.4 billion). Her ownership in Savage x Fenty, which is worth an estimated $270 million, and her profits from her career as a chart-topping artist and actress account for the majority of the remainder.
While Rihanna, isn’t the first star to use her social media following to launch a beauty company (currently with 101 million Instagram followers and 102.5 million on Twitter), she is the most successful.
Fenty Beauty which was launched back in 2017 with the objective of inclusiveness currently has its products available in a wide range of shades. Foundations are available in 50 hues, including harder-to-find deeper tones for women of color, and are represented by a broad set of people in its advertisements.
Fenty Beauty is valued at a cautious $2.8 billion, according to Forbes, thanks to the remarkable multiples at which beauty businesses are trading. And all indications are that the firm will continue to expand. Fenty Skin, which launched last year, had a “very promising start” and “generated unprecedented buzz,” according to LVMH’s annual report for 2020, while Fenty Beauty “maintained its appeal as a premier make-up brand.”
Rihanna’s billion-dollar brand Fenty Beauty happens to yet another in her repertoire as Savage x Fenty, her lingerie business, secured $115 million in financing in February at a $1 billion value where the multi-hyphenate also owns a 30% stake.
Education: Computer Network Engineering, Computer Desktop Administration
Fave Song: Destiny's Child 'Dangerously in love'
Fave Colour: Grey.
With £1m what would you do: I would do my part to provide opportunities to the less fortunate. Then do my best to change the world in my own way through sports and talent building.
