Rihanna might be away from the stages, but she is working more than ever and she is busy making history. The singer is the first black woman to launch a luxury fashion brand. LVMH, the conglomerate behind brands like Louis Vuitton and Sephora, announced that they have teamed up with Rihanna to launch the brand Fenty Maison.
The princess of Barbados is the world’s wealthiest female musician and has a $230 million net worth Her empire was built with music, but also with multi-millionaire contracts with brands and fashion ventures. Rihanna has an eye for business, intelligence, and determination. Those are a few of her secrets to become successful. Considering she is only 31 years old, it seems the sky is the limit to her.
It's impossible to manage an empire alone and Rihanna is aware of that. She aims at having an efficient team and is looks for outstanding professionals.
"If I can do your job better than you, I can't hire you," said the musician in an interview. "But if you have something to offer, I know there's an expertise that I can respect and I put people in place based on what their strengths are." Even when Rihanna is on the road, she is still in charge of her business and is always aware of what is going on.
Rihanna would have enough money for three generations even if she focused just on singing. However, she saw her empire increase even more thanks to investments in different areas.
She runs her own makeup and a lingerie line, Savage X Fenty and Fenty Maison. Just 40 days after she released the brand, she sold $100 million on the product. For Rihanna, having multiple ventures is a perfect way to see her fortune grow. It is working very well for her and she is just as successful in business as she is in music.
In 2016, MONEY released a study that claimed Rihanna is "the most marketable celebrity in the world." This study was just a confirmation for something brands already knew from being in contact with her. She already had contracts with brands like Balmain, Armani, Mac, and River Island.
In 2014, Rihanna became Puma's creative director, and the public fell in love with her designs. The numbers proved it: sales had a 16 percent increase that year.
One of the best ways to know your product will be a success is being aware that people are willing to buy it. When Rihanna released her makeup line two years ago, she knew that she didn't want it to be just another product on the shelves.
She created a line of inclusive products and people especially loved the foundation that offers options for almost all skin tones. When she thought about her lingerie line, she also wanted it to be inclusive, as Rihanna said herself that she's "not built like a Victoria's Secret girl."
Many people don't know it, but Rihanna wrote the song "B*tch Better Have My Money" to her ex-accountant, who almost led out our bad girl to bankruptcy. The singer sued the firm because, even though she had $11 million in her bank account, a few months later she had only $2 million, dramatically increased expenses, and weak financial guidance.
The judge agreed with Rihanna. She won the lawsuit and received $10 million back. Besides the money, the case inspired her to write one of her most successful songs ever.
Rihanna bought a $2.7 million house in West Hollywood. One year later, she put it on the market for $2.85 million. According to the Observer, the house is still on the market, but the singer rented the place for the bargain of $16,500 a month.
In the past, Rihanna lost some money on real estate due to bad advice and also her inexperience. But she learns fast and likes challenges. Don't be surprised if Rihanna starts to invest even more in the coming years.
Her last album, Anti, was released in 2016. While most fans are missing new hits and often adding pressure on social media, Rihanna doesn't seem to care. But the absence of a new album doesn't mean she took a sabbatical period.
Rihanna has focused on ber brands and ventures and is putting all her energy on it. And it is working very well since she is very successful in business. Of course, we see Rihanna having fun and traveling with her boyfriends, too. But we all deserve some rest, right?
Rihanna has 72 million followers on social media and is one of the most influential celebrities there. On her social media, she doesn't keep the distance from the fans, as we are used to seeing many A-List celebrities do.
The singer knows how to use it on her favor and when she replies to a comment (usually from haters), it often makes the headlines. Knowing how to use social media wisely makes the public feel closer to Rihanna. And most people seem to enjoy her acid sense of humor. Of course, she also uses this space to talk about her products.
While many artists with her status focus on high-profile brands, Rihanna focuses on a broader public. Of course, she does have great contracts with brands like Balmain and Armani, but she also wants to develop products for people who can’t afford those labels.
On her lingerie line, for example, most of the products are below $100, and her makeup line is also affordable. And it is working great for her! According to Slice Intelligence, Fenty Beauty consumers spend approximately $471 per year on Rihanna's brand. That's more than other popular brands like Kat Von D and Kylie Jenner.
One of the essential things in life is having the chance to give it back. And Rihanna knows that, so in 2012, she created the Clara Lionel Foundation. This organization works to "improve the quality of life for communities globally in the areas of health, education, arts and culture," according to Rihanna's website.
In 2016, Rihanna launched a scholarship program through the Clara Lionel Foundation that grants full-tuition scholarships. Students from Barbados, Brazil, Cuba, Haiti, Guyana, Jamaica, and the U.S. are eligible for a scholarship that starts at $5,000.