Rihanna has been crowned the youngest self-made billionaire woman in the US thanks to her wildly popular cosmetics line, Fenty.
The Barbadian popstar, who was born Robyn Rihanna Fenty, reached the coveted financial status after she accumulated a staggering net worth of $1.4 billion at the age of 34.
Rihanna beat out Kim Kardashian and Kylie Jenner on Forbes’ annual list of the richest women – but the achievement for wealthiest self-made woman went to 75-year-old businesswoman Diane Hendricks.
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The singer first reached billionaire status last August, also making her the richest female musician in the world and the second-wealthiest female entertainer after Oprah Winfrey.
Rihanna dethroned Kardashian, 41, who earned the title in 2021 after the reality star increased her self-made net worth from $780 million to $1 billion.
According to Forbes, Rihanna’s billionaire status is mostly due to the success of her makeup line Fenty, which she co-owns with LVMH, and which generated $550 million in revenue in 2020.
Fenty beauty, however, is not the ‘Umbrella’ singer’s only source of income. Rihanna also earns a significant amount from her record career and her lingerie brand, Savage x Fenty.
Forbes also awarded Rihanna a “self-made” source of 10, which ranks how much the billionaire’s fortune is inherited or built themselves.
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The nine-time Grammy winner is the only billionaire under 40 on this year’s list. In 2019, then-21-year-old Kylie was named Forbes‘ richest self-made woman. She won the title again in 2020.
However, the title was stripped after the reality star and makeup mogul was accused of “inflating the size and success of her business”.
Her ranking also sparked controversy after readers and media commentators claimed the half-sister of Kim Kardashian was anything but “self-made” due to her famous upbringing.
While no longer a billionaire, Jenner ranked in 41st place on the list with a net worth of $600 million.
She is also the youngest woman on the list, followed closely by Taylor Swift with a net worth of $570 million.
Rihanna, meanwhile, is self-made in every sense of the word.
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The billionaire came from humble beginnings in Saint Michael, Barbados and at the age of 16, she stayed at home to care for her younger brother as her single mother worked full-time to support her family.
She also dropped out of high school at the age of 16 to pursue a career in music.
In a social media statement about her upbringing, Rihanna described herself as “just a little island girl riding bikes, running around barefoot and flying kites in the cemetery, but I had BIG dreams.”
“Dreams that were born and realized right here,” she added.
Rihanna shot to stardom in 2006 with her smash hit ‘Pon de Replay’ and was signed by rapper Jay-Z for his record label Roc Nation.
In her personal life, the singer recently welcomed a baby boy with her boyfriend A$AP Rocky.
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