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Rihanna’s net worth takes huge hit after ‘failed’ business ventures
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Rihanna’s net worth takes huge hit after ‘failed’ business ventures
Rihanna’s net worth has taken a hit in recent months, but the pop superstar is far from broke and still has a huge fortune thanks to her Fenty Beauty and Savage X Fenty lingerie businesses
Entertainment
Rihanna, one of the most recognizable faces globally, has reportedly seen a significant dip in her net worth recently due to some business ventures not performing as expected.
Reports suggest that the pop icon’s wealth has taken a hit over the past year, largely due to some of her businesses underperforming. The singer has been focusing less on music and more on her other ventures, such as her Fenty Beauty line and Savage X Fenty lingerie brand.
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Despite the financial setback, Rihanna is far from broke, with her Fenty Beauty line being a major source of her wealth. She co-owns the brand, holding a 50% stake, with the other half owned by French luxury conglomerate LVMH, led by Bernard Arnault, reports the Express US.
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LVMH is the powerhouse behind several high-end brands, including Louis Vuitton, Sephora, Tiffany & Co., Christian Dior, Moët & Chandon, and Bulgari. Rihanna has been collaborating with LVMH since the inception of Fenty in 2016.
Rihanna
Rihanna is currently pregnant with her third child with A$ap Rocky(Image: Getty Images)
The beauty line was a massive hit upon its launch, primarily because it was one of the few makeup brands at the time that catered to women of all skin tones. Many of the darker shades sold out within days of the launch, and the brand generated $100 million in sales within a month.
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According to Forbes, Fenty Beauty is currently valued at $2.8 billion. In 2018, Rihanna expanded her business portfolio by launching her Savage X Fenty lingerie collection.
The designs were available in a variety of inclusive sizes, shapes, and colors, with the debut collection selling out within a month. In 2021, Forbes valued the business at a whopping $1 billion. Rihanna has also raked in a fortune from her brand deals, which have included collaborations with big names like Armani, Chopard, CoverGirl, Dior, MAC Cosmetics, Louis Vuitton, Manolo Blahnik, Puma, River Island, and Samsung
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