Rihanna makes her debut on ‘Forbes’ annual billionaires list
Rihanna joined Forbes‘ annual list of billionaires for the first time in his career.
The 34-year-old multi-hyphenate officially achieved billionaire status in 2021 with an estimated net worth of $1.7 billion. Forbes‘ Madeline Berg attributed Rihanna’s wealth not to her musical productions, but to her wildly successful adventures in fashion and beauty.
According to the publication’s recent report, RiRi’s stake in her fastest-growing cosmetics line Fenty Beauty accounts for the majority of her wealth. The company, which it co-owns with luxury conglomerate LVMH, reportedly made more than $550 million in revenue in 2020. It also has a 30% stake in its Savage x Fenty lingerie line, which raised around $115 million in Series B funding at a $1 billion valuation in early 2021.
Rihanna, who is expecting her first child with ASAP Rocky, would be the first billionaire to come from Barbados. She spoke about the September 2021 milestone with the New York Times.
“It’s tricky because it’s hard even to accept that you’ve come to this because I know where I’m from,” she said. “At the same time, it feels good to be able to inspire young women and boys, who like me, come from humble beginnings, who come from immigrant parents or who are immigrants themselves, to be able to do this.”
According to Forbes, the world now has 2,668 billionaires with a collective net worth of $12.7 trillion. (Rihanna was ranked No. 1,729.) Last year’s list had 2,755 billionaires with an estimated total net worth of $13.1 trillion. The publication reports that the drop – the steepest since the 2009 financial crisis – is due to sanctions against Russia, which lost a third of its wealth following the collapse of the rouble.
This year’s list was topped by tech mogul Elon Musk with an estimated net worth of $219 billion. Amazon founder Jeff Bezos moved into second place with $171 billion; Bernard Arnault, owner of LVMH, followed with $158 billion; while Bill Gates and Warren Buffet round out the top five with $129 billion and $118 billion, respectively.
Other celebrities making the list include Kanye West (#1,513 with $2 billion); Kim Kardashian (#1,645, $1.8 billion); Jay-Z (#2,076, $1.4 billion); and Tyler Perry (#2,578, $1 billion); Steven Spielberg (#801, $3.7 billion); and Oprah Winfrey (#1,196, $2.6 billion.