The youngest self-made millionaire lady in the U.S. didn’t grow up in a high-rise building in Manhattan or in the Hollywood Hills. Instead, Rihanna amassed her money via her own songs and entrepreneurial enterprises.
The Youngest Self-Made Millionaire Lady In The U.S.
Earlier this month, Forbes published its annual list of the richest self-made women in the United States for the third year in a row.
The only other billionaire under the age of 40, she came in at number 21 overall. From her great music career, some of Rihanna’s $1.4 billion net worth comes. Fenty Beauty, Fenty Skin, and Savage X Fenty make up the bulk of her business.
It was first reported in March by Bloomberg that the company was working with consultants on an IPO valued at $3 billion.
That corporation is owned by Rihanna with a 30 percent stake. Fenty Beauty produced $550 million in revenue in 2020, and she owns half of it. Luxury apparel powerhouse LVMH owns the other half of this business.
As great as Rihanna’s earnings are, she has stated that they aren’t important to her. She told T Magazine in 2019 that while she never expected to make a fortune, achieving financial milestones was “not going to stop me from working.”
Even if she doesn’t spend the money herself, the Grammy Award-winning singer says she intends to donate it to worthy organizations. I always have the feeling that I can help someone else when I spend my money,” she stated.
You might lose sight of the essence of life, of what it is to be alive if you allow the world to persuade you that the wrong things are important.
The Clara Lionel Foundation was established by Rihanna in 2012 as a vehicle for charitable giving (CLF). They want to “promote and fund pioneering education and climate resilience programs,” and they’re doing just that.
Within the first year of the foundation’s existence, sales from the singer’s MAC Cosmetics lipstick range collected $60 million for the benefit of women and children living with HIV/AIDS.
Also in January, CLF teamed up with the #SmartSmall initiative of Twitter co-founder Jack Dorsey to provide $15 million to 18 distinct climate justice organizations.
Kim Kardashian, who is 41 years old and has a net worth of $1.8 billion, is the next youngest billionaire on the Forbes list.
Kardashian and her sister Kylie Jenner, who at 24 has a net worth of $600 million and is the youngest person on the list who is not a billionaire, have also done well in entertainment and retail, like with their own makeup lines.