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Many might have seen the success of Rihanna in her many businesses which accounted for her upliftment as a billionaire as requiring a sacrifice per her music career.
Barbadian singer, actress, fashion designer, and businesswoman, Robyn Rihanna Fenty has officially joined the Billionaires club, ranked second only to Oprah Winfrey as the richest woman entertainer in the world. Per a Reuters report, the current valuation of Rihanna’s wealth is pegged at about $1.7 billion, most of which are not gotten from her music career.
Beyond her role as a musician and actress, Rihanna operates a fashion line Fenty Beauty cosmetics of which she owns a 50% stake per a Forbes report. The beauty business co-owned by luxury brand LVMH Moet Hennessy Louis Vuitton SE (EPA: MC) accounts for about $1.4 billion of Rihanna’s wealth, with her other engagements making up the other bits.
Fenty Beauty, launched in 2017 has seen a very good success as it markets products that models as much as 50 skin tones which are widely accepted amongst people of color. At the time of its debut, beauty products that are geared toward a wide variety of dark skin people were rare, giving the Fenty Beauty line a headstart amongst customers.
Fenty Beauty, which was primarily sold online and at Sephora (an outfit also owned by LVMH), saw a huge success at launch. According to MarketWatch, LVMH reported $550 million in annual revenue during the brand’s first full calendar year in 2018. The Fenty Skin business was floated amidst the COVID-19 pandemic was also adjudged by LVMH as off to a promising start in its annual report.
With Rihanna in the Billionaires Club: Is Music Still a Go?
Many might have seen the success of Rihanna in her many businesses which accounted for her upliftment as a billionaire as requiring a sacrifice per her music career. As the singer of popular hit songs including “Umbrella,” and “better have my money,” Rihanna has sold over 250 million records worldwide in her music career. However, the last time she released an album ‘Anti’ was in 2016, a situation which has left many to wonder whether that will be her last venture in the music line.
Rihanna, 33 has a massive followership on Instagram with counts numbering up to 103 million followers. Amongst the many points of attraction the Barbadian brandishes, her music comes off as one of the highpoints of her entertainment, and a neglect of it has left a number of fans wondering.
Although the singer’s pursuit in business is paying off. Her lingerie business, co-owned by Techstyle Fashion Group has not just seen a wide acceptance amongst consumers, it has notably attracted funding from investors. Amongst these investors include American rapper Jay-Z’s venture firm Marcy Venture Partners LLC and Avenir Growth Capital.
Releasing a new album may cross all the Ts and dot the Is for Rihanna’s fans that are more attracted to her music. However, a better appreciation will be made if she can just quell the anticipation by letting the millions of fans know if she has gotten to the end of her career as a music superstar.