Rihanna named youngest self-made billionaire in the US

Singer Rihanna is the youngest self-made billionaire in the US, reported Forbes. The 34-year-old singer recently made it to the publication's annual list of America's richest self-made women for the third year in a row. Her net worth is now $1.4 billion. She ranked 21st overall and she is the only billionaire under 40 on the list.

According to CNBC, Rihanna amassed her fortune from her successful music career and entrepreneurial ventures - Fenty Beauty, Fenty Skin and Savage X Fenty. Back in March, Bloomberg reported that Savage X Fenty lingerie company was working with advisors on an initial public offering that could value the firm at $3 billion or more. Rihanna owns 30% of that company.

Rihanna thrives on several business ventures. She is a Fenty Beauty co-owner and holds a 30% stake in her brand, Savage x Fenty lingerie. She has also dabbled in Fenty Beauty. Her song "Umbrella" has rocked the music world. According to Forbes, she is also the first to become a billionaire from Barbados, her homeland. Not just that, she is also the only woman under 40 to be on Forbes' list of female billionaires in the US in 2022.

Rihanna owes her wealth to be inclusive in her ventures. "A lot of women felt there were no [makeup] lines out there that catered to their skin tone. It was light, medium, medium-dark, dark—we all know that's not reality," Bluestock Advisors co-founder of consumer products, Shannon Coyne, reportedly told Forbes. "She was one of the first brands that came out and said, 'I want to speak to all of those different people.'"

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