Publish: 06 Apr 2022, 04:53 pm
Rihanna has appeared on Forbes' annual billionaires list for the year 2020. The singer is also a businesswoman and has a cosmetics line Fenty Beauty and a fashion line Savage X Fenty. This marks the first time that she has appeared on the Forbes list of billionaires, reports Hindustan Times.
Rihanna, who is currently expecting her first child with rapper A$AP Rocky, was valued by Forbes at 1.7 billion dollars. Her success was credited to her music and cosmetics fashion line. As per Forbes, the majority of her earnings were made from her 50% stake in Fenty Beauty, which she co-owns with luxury conglomerate LVMH.
The magazine noted that Rihanna also owns an estimated 30% of the Savage X Fenty lingerie line, which raised $125 million in January and is now reportedly weighing an IPO at a $3 billion valuation. It also described her as the first billionaire from the Caribbean island nation of Barbados. It comes after the singer was declared the country's 11th "National Hero" at a ceremony in November that marked its transition into a Republic nearly 400 years after it became a British colony.
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Rihanna had spoken about being the country's first billionaire in an interview with New York Times in September last year. She had said, "It's tricky because it's hard to even accept that's where you're at because I know where I've come from. At the same time, it feels good to be able to inspire young women and boys, who like me, come from humble beginnings, who come from parents who are immigrants or who are immigrants themselves, to be able to do this."
Apart from Rihanna, another name from the entertainment industry debuted on the Forbes' list this year. Lord of the Rings director Peter Jackson was valued at $1.5 billion. The filmmaker became a billionaire in November last year when he sold a stake in his Weta digital film effects shop to Unity Software for some $975 million.
Tech mogul Elon Musk topped Forbes' billionaires list this year with an estimated net worth of $219 billion. In the second spot was Amazon founder Jeff Bezos, while LVMH owner Bernard Arnault was in the third position. The other two billionaires in the top five positions were Bill Gates and Warren Buffet, respectively.
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