The unexpected success of the cosmetics brand Fenty Beauty launched in 2017 has turned singer Rihanna into a successful businessman.

With an estimated net worth of about $1.7 billion, Robyn Rihanna Fenty is the richest female singer and songwriter in the world. She is second only to American “media queen” Oprah Winfrey in the list of richest female celebrities in the entertainment world.

Style creator

Although famous for her career as a singer, Rihanna mainly makes money through business. 1.4 billion USD of her fortune is thanks to the beauty brand Fenty Beauty. The singer founded this company in 2017 and currently owns about 50% of the shares. Rihanna’s Savage x Fenty underwear brand also helped her earn about $270 million. The remaining assets come from salaries and profits from music and film projects.

Female singer Rihanna. Photo: Economic Times.

When Robyn Fenty, better known to the world as Rihanna, launched Fenty Beauty in 2017, her aim was to be a cosmetics company that made “women everywhere (feel) important.” heart”. She probably didn’t foresee it: her makeup product line helped her join the ranks of billionaires.

Fenty Beauty’s makeup products such as powder, highlighter or bronzer are designed in sturdy, impressive and eye-catching hexagonal shapes. In particular, Fenty’s Pro Filt’r Soft Matte Longwear Foundation is considered one of the most matte foundations – an “effective weapon” for those with oily skin.

Forbes believes that Fenty Beauty’s success is not only thanks to its famous founder but also thanks to the unique diversity of these beauty products, in which the foundation product alone is available in 50 different skin tones for women. women of color.

In addition, girls are also fascinated by Uncensored – a classic red lipstick that is beautiful regardless of skin tone. After just one month of launch, Fenty Beauty has earned nearly 72 million USD (about 1,679 billion VND). When sold online and in Sephora stores, also owned by LVMH, the product was an instant success. Just one year after launch, this product line has brought in more than 550 million USD in revenue, surpassing many other emerging cosmetic brands such as Kim Kardashian’s KKW Beauty, Kylie Jenner’s Kylie Cosmetics…

Rihanna isn’t the only celebrity to leverage her social media presence (101 million followers on Instagram and 102.5 million on Twitter) to build a beauty brand. However, she is the most successful beauty entrepreneur doing it. On average, a Fenty Beauty customer can spend up to $471 per year just to buy the company’s products. This is an extremely impressive number for a relatively new name in the market. Even Kylie Cosmestic’s customers only “reached” $181 each.

Forbes believes that Fenty Beauty’s success is not only thanks to its famous founder but also thanks to the unique diversity of these beauty products, in which the foundation product alone is available in 50 different skin tones for women. women of color.

Fenty Beauty isn’t Rihanna’s only billion-dollar brand. In February, her Savage x Fenty lingerie line raised $115 million in funding at a $1 billion valuation. The company launched in 2018 as a joint venture with TechStyle Fashion Group, which includes investors such as Jay Z’s Marcy Venture Partners and private equity firm L. Catterton (with Bernard Arnault as an investor). is a shareholder. According to Forbes estimates, Rihanna still owns 30% of the shares. The latest capital raising will be used for acquisitions and retail expansion.

However, her job as a fashion and beauty mogul keeps Rihanna busy. The female singer, who released an album almost every year before, has not released a new album since 2016.

But if you look at it from a financial perspective, Rihanna is creating a brand outside of her name. “Even if you don’t like Rihanna’s music, you have to admit she has created a real sense of style in the fashion and beauty space,” financial consultant Coyne told Forbes.

Memorize 4 lessons about financial management

Born into a family whose mother is a famous accountant, Rihanna learned lessons about money and finance from an early age.

Rihanna’s independent personality seems to have been formed from her early years. Born and raised in an unhappy family because her father was an addict, from a young age her mother entrusted her to take care of her siblings, while she also had to earn a living by working to support the family.

When sold online and in Sephora stores, also owned by LVMH, Fenty cosmetics were an instant success.

Rihanna once revealed to The Guardian that having to take care of her children like a second mother forced her to quickly grow up and become financially independent. During her early teenage years, Rihanna and two classmates formed a girl group and released their first album at the age of 17.

According to Rihanna, making money early will help you better understand the value of money as well as be aware of the connection between work and money. Adopting good financial habits from an early age is one of the building blocks for future success.

After the impressive success of selling more than 10 million copies of her third album Good Girl Gone Bad in 2007, Rihanna became the face of many fashion brands such as CoverGirl, Gucci and Dior. In 2011, she also launched her first perfume named Reb’l Fleur.

All of the above successes have great support and backing from rapper and businessman Jay-Z – Rihanna’s CEO. After hearing Rihanna’s voice at Def Jam Recordings when she was 15 years old, Jay-Z placed his trust in her and always followed and supported her. The two have collaborated to produce 6 albums.

According to this female billionaire, you don’t always need a financial investor, sometimes, friends and fans, people you trust and believe in you can also open the door to success in many ways. different ways. They can bring you business opportunities, or can also act as career advisors,… all of which are very helpful, bringing you to success soon.

Rihanna was born and raised in Barbados, but after signing with Def Jam, she moved to the US for work. Moving abroad, this is an opportunity for Rihanna to expand her horizons, as well as seek new business opportunities.

One thing is for sure, jobs and opportunities will not come to you, instead, you need to be alert to know which area or country is suitable for what.

For example, if you want to become a singer, you can easily succeed in New York or Los Angeles; But if you want to build a food brand, the bigger opportunity lies in Dubai and Riyadh, not in the US.

The fourth thing is to create a passive income stream

Rolling Stone statistics show that the first year’s sales of Rihanna’s Reb’l Fleur perfume reached more than 80 million USD. This success is a testament to the idea of passive income that generates recurring revenue over time.

What profession helps American women “make money” and become the richest self-made billionaires and millionaires?

Over the years, Rihanna has created 11 scents. Now she can confidently advise on fragrance, testing and marketing, with a long-term return on royalties and sales profits.

The female singer advised that think about finding different jobs, opportunities so that money can flow into your account in many different ways.