Rihanna on Forbes list again as richest self-made American woman

Rihanna’s name recently appeared on the Forbes annual list of America’s richest self-made women for the third year in a row. The 34-year-old singer and CEO of Fenty Beauty was ranked 21^st on the list, and is the only billionaire on the list under the age of 40.

Rihanna has amassed wealth from her music and entrepreneurial skills.  Her $1.4 billion net worth can be attributed to her successful music career, with people all over the world listening to her songs. Rihanna’s wealth also comes from her three retail companies- Fenty Beauty, Fenty Skin and Savage X Fenty. She owns 30 per cent of Savage X Fenty, 50 per cent of Fenty Beauty. Her company Fenty Beauty, alone generated a revenue of $550 million in 2020.

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In 2019, the singer told The New York Times, that reaching financial milestones wasn’t going to stop her from working as she had never planned on making a fortune.

She said she wanted to give that money away to causes that matter. “My money is not for me; it’s always the thought that I can help someone else. The world can really make you believe that the wrong things are priority, and it makes you really miss the core of life, what it means to be alive,” Rihanna said, according to an article in CNBC.

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To achieve this goal, Rihanna started a philanthropy fund in 2012, the Clara Lionel Foundation (CLF), which aims to support and fund groundbreaking education and climate resilience initiatives. One of the first initiatives launched by the foundation raised $60 million. The money was used for women and children affected by HIV/AIDS.

After Rihanna, the next youngest billionaire on the Forbes list is the 41-year-old Kim Kardashian, with a net worth of $1.8 billion.

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