Rihanna has been putting in that work and Forbes Magazine has recognized her efforts. The sultry mogul, whose estimated net worth is $600 million, is the publication’s newest member of its coveted “America’s Richest Self-Made Women” list for 2020.
The fashion and beauty maven topped out on the list at No. 33. Forbes attributed her wealth, which was calculated using stock prices from September, to her Fenty Beauty cosmetics line with luxury brand conglomerate LVMH and her music. The 32-year-old entertainer earned over $600 million in sales from the cosmetic line in 2019.
Her popular Savage x Fenty lingerie line with online fashion retailer Techstyle Fashion Company raised an impressive $50 million from investors. Additionally, Rihanna’s Clara Lionel Foundation received an astounding $22.5 million for COVID-19 relief.
The Bajan beauty shared with Vogue Magazine the secret to Fenty Beauty’s success in 2017.
“I wanted it to be something that girls love, for it to be respected by professionals, and I wanted something that felt like me—reflective of makeup I love, and I generally want to wear.”
Other noteworthy female self-made ballers who made Forbes' list were tennis legend Serena Williams (No. 83, worth $225 million), media mogul Oprah Winfrey (No. 9, worth $2.6 billion), Madonna (No. 40, worth $550 million) and Kylie Jenner (No. 29, worth $700 million).
In 2019, Forbes erroneously declared Jenner as “The Youngest Self-Made Billionaire Ever” when she was 21 years old. The youngest sister in the Kardashian-Jenner clan sold 51% of Kylie Cosmetics to mega cosmetics giant Coty for $1.2 billion in January. The cosmetic brand crumbled after publicly-traded Coty produced receipts of its real size and profitability.
In a nutshell, Jenner’s brand didn’t live up to its hype, according to Forbes. Launched in 2015, the brand started with a bang as its popular lip kits sold out within one minute after debuting on Instagram. Jenner reported to Forbes that her business earned $330 million in 2017, but Coty’s math was significantly lower.
The gaffe on Forbes part probably had the business magazine checking its current list twice.