Rihanna named youngest self-made female billionaire in the US

Rihanna first burst to stardom in 2006, with her hit song SOS. At the time, no one could have predicted that the songstress would become one of the world’s most successful musicians, businesswomen and worldwide icons.

The 34-year-old entertainer was officially named as America’s youngest self-made billionaire by Forbes Magazine on Wednesday.

Not only is she the first billionaire from Barbados, her native country, she is also the only woman under 40 on this year’s list of self-made female billionaires in the US.

The Umbrella hitmaker didn’t only amass her fortune with her music, she also launched her cosmetics brand, Fenty Beauty, in 2017.

The brand was a huge success from the get-go. Over the years, the product range has expanded to include countless products as well as a skincare line. 

South African consumers rejoiced when Rihanna announced in May, that Fenty Beauty would be coming to South Africa and the rest of Africa.

ALSO SEE: Fenty Beauty Africa: Are the products worth the hype?

Rihanna, who recently welcomed her first child with A$AP Rocky, is worth a whopping 1.4 billion dollars.

According to Forbes, Rihanna earned a self-made score of 10, meaning that she faced adversity in order to establish her own fortune.

While Kim Kardashian is ranked higher on the list, she only earned a self-made score of 7.

According to Forbes, a score of 10 is accumulated when one was born into poverty or the lower middle class, and faced adversity such as abuse, being left an orphan or being forced to work low-paying jobs.

According to People, Rihanna’s Fenty Beauty Cosmetics line generated over 550 million dollars in revenue in 2020.

Rihanna also owns a 30% stake in the Savage X Fenty lingerie brand, which was valued at 1 billion dollars in February.

The businesswoman made her debut on Forbes’ annual billionaires’ list in April as the world’s richest female musician.

Compiled by Xanet Scheepers.