18/05/2024 12:09 AM

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Rihanna Dethrones Kylie Jenner as Youngest Woman Self-Made Billionaire

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Rihanna is the youngest lady to be named on Forbes‘ once-a-year checklist of self-created billionaire girls in the U.S.—giving her a title as soon as bestowed upon Kylie Jenner, right before it was unceremoniously snatched absent.

Barbados-born Rihanna, 34, launched what would turn out to be a vastly successful pop profession in the aughts, in advance of going on to expand on her fortune with her Fenty Natural beauty cosmetics line, which she co-owns with French luxurious retailer LVMH.

In accordance to Forbes, the line generated far more than $550 million in income in 2020 by itself, whilst her Savage x Fenty lingerie line, in which she retains a 30 p.c stake, elevated funds at a $1 billion valuation in February 2021.

Rihanna sits among the a host of businesswomen on the prestigious enterprise publication’s America’s Richest Self-Built Ladies checklist, on which she appears in 21st posture with a fortune of $1.4 billion.

Oprah Winfrey, 68, is 10th with $2.6 billion.

Rihanna youngest self-made woman billionaire in U.S.
Rihanna is pictured still left on February 11, 2022, in Los Angeles, California. Kylie Jenner is pictured suitable on February 09, 2020, in Beverly Hills, California. Rihanna has been listed as “Forbes” magazine’s youngest self-built lady billionaire in the U.S.—a title after bestowed on Jenner, in advance of it was taken away.
Mike Coppola/Getty Photographs/Allen Berezovsky/Getty Photos

Rihanna, who has also launched charity Clara Lionel Foundation given that hitting fame, spoke about her method to wealth in a 2019 job interview with the New York MomentsT Journal.

“My revenue is not for me it is really always the assumed that I can assistance anyone else,” she mentioned. “The earth can genuinely make you imagine that the improper items are precedence, and it can make you definitely skip the core of lifestyle, what it indicates to be alive.”

The up coming youngest individual to be named on Forbes‘ record is Kim Kardashian, 41, who sits in 16th placement with a $1.8 billion fortune, many thanks in big component to her cosmetics and fragrance corporation, KKW Natural beauty, and her shapewear enterprise, Skims.

Nowhere to be uncovered on the record is Kardashian’s sister Jenner, who in 2020 was named on Forbes‘ World’s Youngest Billionaires checklist, only for the title to be taken absent amid the publication’s allegations of discrepancies on tax files.

In 2019, Jenner offered her stake in the natural beauty brand name Kylie Cosmetics to the beauty corporation, Coty, for about $600 million, for every The Hollywood Reporter. The dollars-out from the deal pushed Jenner’s fortune to billionaire standing and the beauty powerhouse was named by Forbes as the youngest billionaire at the age of 21.

But in 2020, a Forbesexpose recalculated the figures and discovered discrepancies in Jenner’s web really worth. The report examined revenue produced ahead of and after the pandemic struck. Jenner’s fortune was, at the time of the report, documented to be below $900 million, below the billionaire position.

The small business publication accused Jenner, 24, of fudging the numbers on the tax returns and creating Kylie Cosmetics bigger than what the brand actually was.

In reaction to the Forbes report, the Kylie Pores and skin founder took to Twitter, exactly where she slammed the magazine for publishing what she named “inaccurate statements and unproven assumptions.”

Jenner’s legal professional, Michael Kump, unveiled an official assertion to Individuals and referred to the Forbes’ post as “supermarket tabloid.”

“It is unfortunate that, of all factors, Forbes has devoted three reporters to investigate the effect of the coronavirus crisis on Kylie’s internet well worth,” stated Kump.

Whilst Jenner defended her fortune, Forbes stood by its reporting. Chief Communications Officer Matt Hutchison reported in a assertion on the publication’s website: “Our reporters spotted the inaccuracies and put in months uncovering the specifics. We inspire the attorney to re-examine the short article.”

Rihanna celebrates her Fenty brands
Rihanna is pictured celebrating her beauty brand names Fenty Splendor and Fenty Pores and skin at Goya Studios on February 11, 2022, in Los Angeles, California. She rose to stardom in the aughts as a singer.
Mike Coppola/Getty Photos

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