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t’s amazing how smart celebrities use their celebrity and influence to create bigger brands and we don’t see that too often because musicians for example are often more married to the music instead of the business of music.
Robin Fenty aka Rihanna has just become the richest woman in music according to Forbes. Her net worth is now 1.7 billion only under Oprah Winfrey as the richest woman in entertainment
She originally started Fenty to cover the often ignored skin tones of various women by the beauty industry and she has struck gold. Fenty Beauty, which Rihanna owns 50% off, is a 50-50 joint venture that she has with LVMH which is a French luxury goods conglomerate run by Bernard Arnault who happens to be the world’s second-richest person. (Keep company with the right people?)
The Fenty brand is available at Sephora stores as well as online and was launched in 2017 bringing in more than 550 million in annual revenues.https://bf3fe81d4550f1691397adf6d39af031.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html
Fenty beauty it’s now worth two 2.8 billion according to Forbes. And Rihanna has launched additional ancillary brands like Savage X Fenty, which is already raised over 110, million in funding and has a 1 billion dollar valuation.
Rihanna maintains 30% ownership and it was launched in 2018. Investors include Jay Z. So Rihanna now has two sets of fans, music, and business and the business end has proven to be much more lucrative so an album is not promised anytime soon.
