Beauty
Rihanna, 34, Named America’s Youngest Self-Made Billionaire Woman
“My money is not for me; it’s always the thought that I can help someone else.”
Business mogul Rihanna has become America’s youngest self-made billionaire woman, as per Forbes 2022 list. Some of the singer’s $1.4billion net worth is from her music career, while most are from her three retail companies, which include Fenty Skin, Fenty Beauty, and Savage X Fenty.
In 2019, the mom-of-one had reportedly said because she never planned on making a fortune, reaching financial milestones wasn’t “going to stop me from working.”
The 9th-time Grammy Award winner also told New York Times Magazine that she wants to give the money away to causes that matter. She shared: “My money is not for me; it’s always the thought that I can help someone else. The world can really make you believe that the wrong things are a priority, and it makes you really miss the core of life, what it means to be alive.”
Rihanna launched a philanthropy fund, the Clara Lionel Foundation (CLF), in 2012, which aimed to support & fund groundbreaking education & climate resilience initiatives.
One of the first initiatives launched a year after the foundation launched raised $60 million for women and children affected by HIV/AIDS through Rihanna’s lipstick line with MAC Cosmetics. More recently, the foundation paired with Twitter co-founder Jack Dorsey’s #SmartSmall Initiative to give a combined $15million to 18 different climate justice groups.
According to the CLF’s website, the money was meant for organizations focused on and led by women, youth, Black, Indigenous, people of color, and LGBTQIA+ communities in the U.S. and Caribbean.
Rihanna had also said in a January statement: “At the [CLF], much of the work is rooted in the understanding that climate disasters which are growing in frequency and intensity, do not impact all communities equally, with communities of color and island nations facing the brunt of climate change.” However, the singer had graced Forbes’ annual list of America’s richest self-made women for the third year in a row. And on the Forbes list, Rihanna ranked 21st overall and is the list’s only billionaire under 40.
The next-youngest billionaire is Kim Kardashian, 41, with a net worth of $1.8billion.
Kim’s sister Kylie Jenner, 24, is also recognized as the youngest non-billionaire, with a net worth of $600million. The report stated Kim and Kylie succeeded in entertainment and retail, including their respective makeup lines. Diane Hendricks, 75, topped the list with a net worth of $12.2 billion. She’s the co-founder & chairperson of ABC Supply, one of America’s largest roofing, siding, and windows wholesale distributors.
