Contrary to prior assumptions, publications, and retractions Forbes has declared Kylie Jenner is not the youngest female self-made billionaire. You may remember when Forbes magazine released America’s Women Billionaires 2018 issue featuring Kylie Jenner on the cover and declaring her the youngest female self-made billionaire.
Shortly after gaining the notorious status, Forbes realized they made a mistake after fact-checking claiming they had miscalculated her net worth and she was still just a millionaire, with a net worth of over $600 million. Forbes explained they were provided with falsified documents to manipulate Jenner’s net worth and lead them to believe she was the true titleholder of the youngest female self-made billionaire.
America’s richest self-made women list for 2022 includes well-known names from the industry, including Oprah Winfrey, Weili Dai, and Kim Kardashian. Rihanna ranks at number 21 with a net worth of around $1.4 billion.
Rihanna is, however, the list’s first billionaire and ranks 6th if you sort the list by age. She is also the only woman on the list who is under 40. She is also making her home country proud as she is the only billionaire in Barbados!
Rihanna started her music career with the release of ‘Pon De Replay’ back in 2006 and since then, there has been no stopping her. With a wildly successful music career, she has very successful businesses under her ‘Umbrella,’ including her beauty line Fenty Beauty, a lingerie line Savage X Fenty, and skincare line Fenty Skin.
According to a Bloomberg article published in March, the Savage Fenty lingerie line was collaborating with consultants on a potential $3 billion or higher initial public offering. In February 2021, the brand was worth $1 billion, with 30% of the business owned by Rihanna.
She is also a 50% owner of her makeup line Fenty Beauty, which debuted in 2017 and generated $550 million in sales in 2020. The French luxury fashion behemoth LVMH owns the rest of the Fenty beauty line.
As per Forbes, Rihanna’s share in the rapidly expanding cosmetics company makes up the bulk of her income, and Fenty Beauty is currently valued at $2.8 billion. The celebrity also owns an astonishing array of real estate, including a $13.75 million Beverly Hills mansion she bought last year and a $10 million adjoining property a few weeks later.
She also owns a property for rent in Hollywood Hills that she bought for $6.8 million in 2017 and a “stalker-proof” apartment in Century Towers in Los Angeles. She also allegedly paid $22 million for a villa at the upscale One Sandy Lane resort in Barbados, where she was born and raised.
Rihanna is also utilizing her money for good. She launched the CLF foundation back in 2012, which aims to promote and fund climatic resilience programs and education. The Clara Lionel Foundation was also recognized by Fast Company as among the most outstanding not-for-profit organizations on the planet in February 2020.