It was a just a few days ago when the news broke that Rihanna is officially a Self-made Billionaire and the crowd went wild! If there is anybody who loves Rihanna, it’s Caribbean people because we know how hard it is to make it in a first world country as a Black Female so you can imagine all the images and videos of Rihanna that was splashed across all our timelines!
The one thing that we found amazing is how she used her passion for Fashion and Beauty to build an empire that turned her into a billionaire. You heard that correctly, Rihanna did not become a Billionaire from solely music! Sis used her love for beauty and fashion to fill a very obvious gap in the industry to include a range of lingerie for a number of body types and adding more foundation shades to suit dark skin tone. This all sounds simple enough, but after all these years, it has not been done on the scale Rihanna has done it!
She researched the industry, actually listened to the people who matter most, her fans and actually delivered on promise. In celebrity “brand world”, most of these famous people only add their names to a product and collect a huge check, but have no connection (or interest) in it and it’s more about them than the people who continue to support their brand.
Since we’ve given the way Rihanna actually became a billionaire, we will be digging deeper to serve up some research, just so you can come back and bookmark this article since we’ve provided factual information.
Rihanna is Officially a Billionaire -Here’s How she did it
According to Forbes, the 33-year-old amassed her estimated $1.7 billion net worth thanks largely to the foundation of her Fenty Beauty line in 2017. The company’s profits have made Rihanna the wealthiest woman in music, and the second-richest woman in entertainment behind Oprah Winfrey. – Entertainment Weekly
- She partnered with a company who could help her get to the next level. Rihanna has not released an album in the last 5 years, but after getting feedback from women with darker skin tones and their frustration with finding their shades, she knew something had to be done. She then partnered with French company Moët Hennessy Louis Vuitton (LVMH) who became her investor where they have a 50% stake in her company. LVMH is the world’s largest luxury goods company and let’s just say they know a thing or two (2) about running a successful fashion/beauty brand.
- Being intentional about what she was creating. As mentioned above, Rihanna saw a gap in the market and literally filled it by providing exactly what people lacked. Her Savage X Fenty brand created lingerie to suit a number of body types from smaller to larger body types AND! She ensured these body types were not only represented, but showcased at her runway shows! Her Fenty Beauty brand was all about intentionally creating more shades to suit black women, after all we are not a “one shade fits all” and the shade range for women of colour was disappointing to say the least. “A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark. We all know that’s not reality.
- From her music career: We know we mentioned the bulk of her earnings were not from music, but it definitely contributed to it. Rihanna came on the scene as a musician and made a great amount of her fortune from that. As a musician, Fashion and Beauty was a part of her persona, as we are always looking for the outfits she will be wearing, or how she will style her hair and of course if her make-up will be a simple daytime glam or edgy with darker tones.
Launched in 2017 with the goal of inclusivity. Its products come in a diverse range of colors—foundation is offered in 50 shades, including harder-to-find darker shades for women of color—and are modeled in its advertising by an equally diverse group of people.
Available online and at Sephora stores, which are also owned by LVMH, the products were an instant success. By 2018, its first full calendar year, the line was bringing in more than $550 million in annual revenues, according to LVMH, beating out other celebrity-founded brands like Kylie Jenner’s Kylie Cosmetics, Kim Kardashian West’s KKW Beauty and Jessica Alba’s Honest Co.
Rihanna is the perfect example of “If you do something you love, you will never have to work a day in your life”. Her growth has been monuments and we applaud a queen in her rise as a successful Billionaire!
#Rihanna is Officially a Billionaire -Here’s How she did it
#Rihanna is Officially a Billionaire -Here’s How she did it
#Rihanna is Officially a Billionaire -Here’s How she did it
#Rihanna is Officially a Billionaire -Here’s How she did it
