Celebrities will make many a debut within a lifetime of fame, whether that means appearing for the first time on the Oscars red carpet, on the Met Gala steps, or on the Grammys stage. But only a few get to make their Forbes annual worldwide billionaires list debut.
The superstar and fashion and beauty mogul has officially landed on Forbes‘s famous list for the first time, ranking in at number 1,729 with a whopping $1.7 billion net worth.
The magazine previously announced Rihanna’s newfound billionaire status last August, when it named her the richest female musician in the world and the most successful beauty entrepreneur.
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Her net worth is in large part thanks to her cosmetics line, Fenty Beauty, which comprises a significant bulk of her income. The company, which launched in 2017, made more than $550 million in revenue in 2020, per Forbes. Its success is, for the most part, a result of its record-breaking inclusivity of all skin colors and skin types, with 40 shades offered to customers.
“A lot of women felt there were no [makeup] lines out there that catered to their skin tone. It was light, medium, medium dark, dark—we all know that’s not reality,” Bluestock Advisors cofounder of consumer products Shannon Coyne told Forbes last year. “She was one of the first brands that came out and said, ‘I want to speak to all of those different people.'”
Rihanna additionally holds a 30 percent stake in her lingerie line, Savage x Fenty. The brand raised money at a $1 billion valuation in February 2021, Forbes reported. Meanwhile, Fenty, her clothing line with LVMH, didn’t see as much success and officially shut down last year.
This article originally appeared on Harper’s BAZAAR US.
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