Our girl Ri-Ri is a billionaire!
Billionaire, Robyn ‘Rihanna’ Fenty
Billionaire, Robyn ‘Rihanna’ Fenty

-and the world’s wealthiest female musician

In typical Guyanese fashion, we claim every celebrity with even an ounce of Guyanese heritage coursing through their veins. So, since Robyn ‘Rihanna’ Fenty is a whole 50 per cent of Guyanese, owing to her Guyanese mother, Monica Braithwaite, we have been claiming the songbird for decades. And, as usual, RiRi continues to do us proud. Recently added to her many accolades, was the title of billionaire, having been named the wealthiest female musician in the world.
What is even more impressive, is the fact that our very own RiRi is the second richest female entertainer, behind the iconic and legendary, Oprah Winfrey.
Below, we share with you, excerpts of an article written by Madeline Berg for Forbes Magazine. It reads, “When Robyn Fenty, known to the world as Rihanna, launched Fenty Beauty in 2017, she sought to create a cosmetics company that made “women everywhere (feel) included.” A perhaps unintended consequence: The beauty line has helped her enter one of the world’s most exclusive ranks: Billionaire. Rihanna is now worth $1.7 billion, Forbes estimates—making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.

Rihanna and her Guyanese mother, Monica Braithwaite

But it’s not her music that’s made her so wealthy. The bulk of her fortune (an estimated $1.4 billion) comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50%. Much of the rest lies in her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress.
While Barbados-born Rihanna isn’t the only celebrity to capitalize on her social media presence—she has 101 million followers on Instagram and 102.5 million on Twitter—to build a beauty brand, she is the most successful beauty entrepreneur to do so.” But, “Fenty Beauty isn’t Rihanna’s only billion-dollar brand. In February her lingerie line Savage x Fenty raised $115 million in funding at a $1 billion valuation. The company, which launched in 2018 as a joint venture with TechStyle Fashion Group, counts blue-chip investors like Jay-Z’s Marcy Venture Partners and private equity firm L. Catterton (in which Bernard Arnault is an investor) as shareholders. Rihanna maintains a 30% ownership stake, Forbes estimates. The latest round of funding will reportedly be used for customer acquisition and retail expansion.”
While we do wish Rihanna would acknowledge her Guyanese roots a little bit more, we do love all the same, and when we see exciting news such as this, we are filled with pride. The Buzz continues to wish RiRi the best in all that she does.

 

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