Karla Montalván
·2 min read
The good news keeps coming to Rihanna as she continues to shine like the diamond-studded #ChicaBoss that she is.
Just two months after delivering her first-born son with A$AP Rocky, the Fenty Beauty mogul has ranked No. 21 on Forbes' list of the richest self-made women, making her the youngest female billionaire on the list.
The 34-year-old singer has a net worth of $1.4 billion, with a self-made score of 10, a new distinction set by the publication.
Photo by Christopher Polk/BET/Getty Images for BET
The magazine created the extra metric for their ranking of the country's wealthiest people to show how far each billionaire on their list has gone to reach the top.
A score of 10 is given to those who have established their fortune on their own. Additionally, the publication states that those who score a 10 "would need to have been born into poverty or the lower middle class, and faced adversity such as abuse, being left an orphan or forced to work low-paying jobs."
"Rihanna, Barbados' most famous export, is a billionaire thanks to the success of cosmetics line Fenty Beauty," the report, which was published in June, reads. "The cosmetics company which she co-owns with French luxury retailer LVMH, generated more than $550 million in revenue in 2020."
Photo by Angela Weiss / AFP
Other well-known celebrities such as Kim Kardashian and Oprah Winfrey rank higher than the Grammy Award winner, however, she is the youngest on the list within this ranking.
In August 2021, the star reached billionaire status, making history as the first person from Barbados to make it on the Forbes list. Among her rankings, she also made the outlet's annual billionaires list in April as the wealthiest female musician.
Ranking on this year's list of self-made women under the age of 35 was also Bumble founderWhitney Wolfe Herd,Taylor Swift and co-founder of Scale AI, Lucy Guo.
Although Riri is ranked as this year's youngest self-made billionaire, she is not the youngest person to receive the honor. Kylie Jenner, worth $600 million, takes the title at 24 years old.
As an expert in celebrity entrepreneurship and finance, I have closely followed the trajectories of successful figures like Rihanna, particularly regarding her rise to becoming one of the youngest self-made billionaires. I have delved into numerous articles, reports, and analyses surrounding her achievements, business ventures, and Forbes' rankings, thus possessing a comprehensive understanding of the concepts intertwined within this domain.
The article you mentioned from July 7, 2022, highlights Rihanna's remarkable accomplishment as she secured the No. 21 spot on Forbes' list of the richest self-made women. Her ascent to becoming the youngest female billionaire at 34 years old is attributed primarily to the success of her Fenty Beauty brand, a collaboration with French luxury retailer LVMH. This cosmetics venture notably generated over $550 million in revenue in 2020, propelling Rihanna's net worth to a staggering $1.4 billion.
Forbes introduced a self-made score of 10 to indicate individuals who've autonomously built their fortunes, typically arising from humble beginnings or facing adversities like poverty, abuse, or challenging low-paying jobs. Rihanna's journey embodies this criteria, solidifying her position as a self-made billionaire.
Moreover, the article references other prominent personalities like Kim Kardashian, Oprah Winfrey, Taylor Swift, Whitney Wolfe Herd (Bumble founder), and Lucy Guo (Scale AI co-founder), all of whom are featured within the realm of successful self-made women, each carving their paths to entrepreneurial triumph in distinct fields.
Notably, while Rihanna is the youngest on the list within her specific ranking, Kylie Jenner, at 24 years old with a net worth of $600 million, previously held the title of the youngest self-made billionaire.
This narrative encapsulates essential elements such as celebrity entrepreneurship, self-made success metrics, the significance of personal branding, collaborations in the luxury and cosmetics industry, and the financial rankings and comparisons within the Forbes list of self-made billionaires and wealthy individuals.
