Everybody knows who the celebrity from Barbados is due to her lucrative music career, which has garnered millions of fans, lots of concerts, label deals and much more. Rihanna’s music endeavors alone have managed to bring in hundreds of millions of dollars for the 33-year-old. What’s most fascinating is that her music career isn’t even her most valuable source of income, as her other business ventures have brought in even more money.
As a role model, and as a businesswoman, Rihanna could teach us a thing or two about subjects such as making money, giving back to the world, and being an overall successful person.
She brings in money for others
In 2016, market researchers have called her “the most marketable celebrity in the world”, and this may be the reason behind her successful businesses. This means that she is the most likely to bring in the largest consumer base from all of her contemporaries in the celebrity world. As you can imagine, companies are more than willing to work with such a person and have done so in the past.
By far her most valuable sources of income are her fashion and beauty lines that she developed along popular brands like Puma. Back in 2014, MONEY revealed that she had signed a million-dollar deal to come aboard the popular clothing brand so she could work as their creative director. Shortly after this, the brand saw significant increases in their sales of over 15%, proving what an asset the star is in any product’s campaign.
Following her clothing success, the entrepreneur moved on to the world of perfumes and cosmetics, with her brand, Fenty Beauty, which she launched in collaboration with LVMH. Forbes reports that the makeup brands make up most of the stars’ fortune, and if you’ve been following along with the numbers she has been making from her other sources of income, you can imagine how much money Fenty Beauty has made for her. In just 15 months alone, it had managed to amass over $570 million according to Forbes.
With such numbers, it wasn’t long before the star and LVMH would collaborate again to open up a clothing house, named Fenty. The Fenty House did relatively well in sales, operating for two years before closing in 2020 due to the coronavirus pandemic creating supply chain problems that, ultimately, were its downfall.
Regardless, Rihanna hasn’t let that stop her from continuing to be a brave businesswoman and has since launched other collaborations, like the Savage X Fenty lingerie line. Said line received its second round of funding at the same time as Fenty Fashion closed, February 2021, showing us that even if one attempt at something fails, it doesn’t mean that you should give up on your dreams.
The streak of successful businesses continues with another sub-branch of her Fenty line, Fenty Skin, which focuses on skincare products. Rihanna just won’t stop making money!
Rihanna and investments
Most notably, her lingerie line is nothing short of an investor’s paradise, as it has seen massive growth in a short amount of time, and it is speculated that it may soon become the industry’s leading brand, as reported by WWD. Many have jumped on the opportunity to financially back the “Umbrella” singers business, believing that it may become one of the top companies to invest in. We must stress, this is not meant to be financial advice, and if you need such help, you should consider paying for investment consulting to make sure that you are making an informed decision.
There are many different things to do with your money nowadays, and one of the most popular is impact investing. This is a form of investing that sets the social and environmental implications of buying certain stocks as the focus behind each decision an investor takes. People who partake in such a form of investing are individuals who are more mindful of the footprint they are going to leave on the world with their every action, and they want to support brands that leave a positive impact on the world.
Companies that meet the aforementioned standards are prime targets for such investors and have a significant advantage over the completion. Rihanna knows this, and she is taking actions to ensure that her businesses don’t negatively affect the planet; this is a testament to what an incredible businesswoman she is.
Fenty Beauty’s official site goes into detail on how their mission is to “take care of the earth” and lists the steps they take to honor that goal. While they take the necessary steps to “reduce, reuse, recycle” what they can, the line’s real gift to the world is their partnership with the singer’s other venture, the Clara Lionel Foundation. Yes, making money isn’t Rihanna’s favorite habit; it’s giving back to the world. Ultimately, isn’t that what matters most – leaving the world a better place than before? If so, then that would be her greatest accomplishment, not her $600 million empire.