Rihanna’s canny business sense and work-work-work-work ethic have contributed to her almighty fortune as much as her peerless musical talents and formidable stage prowess.
Recently revealed as the richest female musician on the planet, Rihanna is currently worth a whopping US$600 million, making her wealthier than internationally acclaimed stars such as Madonna, Celine Dion and Beyoncé.
But Just how did Rihanna become so rich? Take a look at how she manages her money and leverages her talents to amass her fortune.
Naturally, Rihanna’s amazing musical talents were her initial ticket to success, when her hit song Umbrella topped the charts for weeks in 2007 and she still hasn’t forgotten her roots.
Rihanna makes most of her money from albums and tours. Her record label Roc Nation boasts that she is the top-selling digital artist of all time, having sold 60 million albums and 215 million digital tracks worldwide. Her Diamonds World Tour in 2013 made a gross profit of nearly US$142 million while 2016’s Anti World Tour made a gross profit of US$106 million.
In 2017, Fenty Beauty made an eye-popping US$100 million in the first few weeks and a total of US$570 million in its first 15 months. Rihanna created the company with LVMH, a French luxury brand that owns half of the company. Even as a partial owner, Rihanna is still generating millions in profits.
Typically, Rihanna’s star power plays an outsize role in bringing in customers. The international singing sensation has more than 70 million followers on Instagram, making it easy for her to reach out to potential clients and promote her products. At the same time, Rihanna’s popularity isn’t the only thing bringing in sales. Fenty Beauty offers 40 shades of foundation, setting her apart from competitors who only put out a limited range of foundation shades.
Rihanna has not stopped with Fenty Beauty. Her Savage X Fenty lingerie line has an annual revenue of about US$150 million. Furthermore, she announced last year that she intends to start a Fenty fashion house to design and sell other clothing too.
Rihanna earns millions of dollars from high-end endorsement deals. Companies whose products she has promoted include River Island, Mac, Armani and Balmain.
Rihanna also signed a US$1 million deal to work as Puma’s creative director in 2014, a move that benefited not only Rihanna’s bank account but the singer’s newly designed footwear boosted Puma’s footwear sales by a remarkable 16 per cent. Rihanna continues to work as Puma’s global ambassador in what is likely a seven-figure endorsement deal.
Rihanna is clearly not one to rest on her laurels as well as music and fashion, she has acted in various shows and movies over the years, including Valerian and the City of a Thousand Planets, Bates Motel and Ocean’s 8.
Rihanna also invests in real estate, frequently buying properties and converting them sometime later for a tidy profit. Not all her property purchases have necessarily been successful, but the star surely isn’t losing sleep over the lost income from her pet project.
Rihanna’s vocal talents were the key to her rise from humble beginnings to the pinnacle of stardom, and yet her business acumen has enabled her to start wildly successful companies that bring in hundreds of millions of dollars every year, while endorsement deals, concerts, investments and other sources of income continually help to boost her net wort further.
At the same time, Rihanna isn’t just a wealthy superstar but also a generous one. Her contributions to worthwhile causes such as scholarships for needy children and Covid-19 assistance for marginalised communities have earned her the respect and appreciation of fans and non-fans the world over.