The fastest route to billionaire status for iconic performers is simple; own a clothing or makeup line. Case in point, Kylie Jenner, Jay-Z, Kanye, Kim Kardashian, and now Rihanna.
Why waste countless hours in a lonely recording studio or, worse yet, on tour when you have a lingerie company that prints money.
Yeah, Rihanna is no longer a singer; she’s a fashion entrepreneur and working on an IPO that could value her lingerie company called Savage X Fenty north of $3 billion.
Rihanna’s money people are huddling with investment banks like Goldman Sachs and Morgan Stanley, and the public offering could happen later this year.
In January, her company brought in a $125 million investment from Neuberger Berman and others, including Jay-Z’s Marcy Venture Partners.
Lingerie isn’t Rihanna’s only side hustle, as her business holdings include makeup and skincare too. Fenty Beauty was launched five years ago along with Fenty Skin.
Next up, after she’s even richer, is expanding the brand into brick-and-mortar locations around the country. Currently, she has five stores, including one in Vegas and another in Culver City, California.
Why Fenty? It’s Rihanna’s last name. She’s been one of the biggest hitmakers in music since she burst on the scene in 2005.
If you haven’t heard, Rihanna’s already a billionaire, clocking in at $1.7 billion in net worth, according to Forbes.