She continues to shine bright like a diamond!
Music artist and entrepreneur Rihanna is now the youngest self-made billionaire woman in the United States, CNBC reports.
For the third year in a row, Rihanna has been named on Forbes’ annual list of America’s richest self-made women. This time, making the list as the youngest self-made billionaire, coming in at the number 21 spot with a net worth of $1.4 billion.
Her billionaire status is mostly a result of her inclusive cosmetics line Fenty Beauty, which according to Forbes, “generated more than $550 million in revenue in 2020.” Rihanna has a 50% ownership stake in her cosmetics company and a 30% stake in her Savage x Fenty lingerie line. In February 2021, the line raised money at a $1 billion valuation.
While Rihanna is also considered the wealthiest woman musician in the world and the second wealthiest woman entertainer, she told New York Time’s T Magazine in a 2019 interview: “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 a priority, and it makes you really miss the core of life, what it means to be alive.”
The 34-year-old founded the Clara Lionel Foundation in 2012 to help support and fund education, climate resilience and justice programs in the U.S. and the Caribbean – specifically programs that are “focused on and led by women, youth, Black, Indigenous, people of color and LGBTQIA+ communities,” stated the foundation’s website. Under the foundation, named after her grandparents Clara and Lionel Braithwaite, Rihanna donated $5 million to COVID-19 relief efforts in 2020, and earlier this year, donated $15 million to climate justice groups.
Hailing from Barbados, the multi-hyphenate musician, beauty mogul, fashion designer, and philanthropist told New York Times in 2021: “It feels good to be able to inspire young women and boys, who like me, come from humble beginnings, who come from parents who are immigrants or who are immigrants themselves, to be able to do this.”
Thank you Rihanna for always using your platform to help make the world a better place. Keep shining!
Photo Courtesy of Getty Images