Rihanna the Wealthiest Female Entrepreneur and Musician
The wealthiest female entrepreneur and musician in the world is Rihanna. She has a fortune of $600 million, it is now safe to say she has more money than Madonna, Celine Dion, and Beyoncé as well.
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Her label, Roc Nation, revealed that she has sold more than 60 million albums and 215 million digital tracks, causing her to be the second best-selling digital artist overall. But all that money came from different sources not just from her music. She now has a net worth of at least $600 million.
Most of her money is made from brand partnership and Fenty Beauty Brand.
After she was discovered at age 15 by an American Record producer, she signed with Jay Z.
She has released 14 No.1 songs and made approximately $22.3 million from just her music in 2016. Her world tour “Diamonds” generated $137 million in revenue. But recently she has been earning the most from endorsement deals, campaigns and partnerships, such as the deal with Puma in 2014. She was there as a creative director and the sales went up by 16% in the first 6 months.
Her fans are always buying her products in her cosmetic and clothing line, they are 3.7 times more willing to buy products from her than the other celebrities, a study published in 2016 proved it. Her partnership with the luxury conglomerate LVMH has been the most profitable.
The “Shine bright like a Diamond” star partnered with LVMH to develop a cosmetic line called Fenty Beauty, in 2017 and more than $550 million was generated in its first year of operation. At first foundation shades were sold there, it has since expanded to other products like lip gloss, lipstick, body glitter, and other products were also added.
Rihanna has an estimated 15% stake in the company that values $3 billion, and she joined with LVMH again in 2019 in order to launch Fenty, a new high-fashion house that is based in Paris. A first new fashion house LVMH started since 1987, and Rihanna is the first woman of color and the youngest to lead a major fashion house. Fenty launched the spring line in May 2019, strong shoulders and futuristic accessories which started at $400 were featured.
Rihanna has proven to be quite the entrepreneur with smart investing skills. With many good deals her revenue streams are pouring in. She allegedly put $34 million of her money into building Fenty with LVMH, and she has also ventured into the real-estate market. She purchased a $6.8 million mansion in LA and then listed it for $7.4 million. She now lives in London in a seven-bedroom home and pays $20,363 a week for rent, and she travels on private yachts and jets.
She chartered a yacht for $300,000 a week to take her around the French Riviera, in 2011. She will also spend on an expensive night out. In 2013, she allegedly spent $8,000 in one night at a Miami strip club and dropped $17,000 at a strip club in Houston on another night with rapper Drake.
Rihanna also enjoys her special meals prepared by her personal chef and it has been said that she spends $38,000 per week on her beauty regime, with a personal makeup artist, lash technician and dermatologist, on staff. She lives lavishly, but she also doesn’t mind giving back.
Rihanna started the Clara Lionel Foundation, named after her grandparents, in 2012. This foundation aims to provide quality healthcare and education to children around the world. The star has become a very influential global icon, her brands are thriving as her net worth keeps on growing. She is also the host of an annual Diamond Ball that benefits the foundation.
Rihanna’s wealth keeps on growing she might be competing with Oprah to see who is now, the richest woman of African descent on earth.
