Do you know who Robyn Fenty is?
Yeah, you actually do. She goes by her middle name “Rihanna,” and the pop superstar is officially considered a billionaire by Forbes as of Wednesday.
And she’s actually closer to being worth $2 billion, as the magazine set the 33-year old’s net worth at $1.7 billion.
She hasn’t had a new album out since 2016, so how was she able to rise to such financial heights? She has a business empire, courtesy of her Fenty Beauty makeup line and her lingerie line called Savage x Fenty.
The makeup line is a powerhouse. Sold at Sephora stores, it raked in over $550 million per year in revenues lately.
How’s that stack up to Kyle Jenner Cosmetics, or big sis Kim Kardashian’s KKW Beauty? It crushes it.
One key to Rihanna’s success is the fact she marketed her products to a wide range of women, targeting them for women of all sizes and skin shades.
Here’s what Shannon Coyne, the cofounder of Bluestock Advisors told CNN:
“She was one of the first brands that came out and said ‘I want to speak to all of those different people. A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark. We all know that’s not reality.”
As for a new album being released anytime soon from the pop star and makeup mogul? Why go through the pain and effort of creating all those new songs when cash registers at Sephora stores continue to ring loudly.