Forbes released its annual self-made list on Thursday (June 1), and it’s a list that honors female entrepreneurs, executives, and entertainers. Rihanna, who came in 20th overall, is the richest self-made female musician in the United States. According to the outlet, the mother-to-be has a net worth of $1.4billion, and is the only billionaire on the musician’s list.
Taylor Swift, who came in 40th overall, is America’s second-richest self-made female musician, with a net worth of $740million. Madonna (45th overall) is the third-richest, with a net worth of $580million, and Beyoncé (48th overall) is the fourth-richest, with a net worth of $540million.
Other musicians on the list include Celine Dion, Dolly Parton, and Barbra Streisand.
From pop stars to tech company founders, the youngest members of Forbes’ 2023 list of America’s Richest Self-Made Women are making their mark, whether in business or entertainment. https://t.co/KUVVpOYtt5#SelfMadeWomenpic.twitter.com/PB0XzSg4BL
— Forbes (@Forbes) June 2, 2023
It’s no surprise that Rihanna is at the top of Forbes‘ list of self-made women musicians in the United States.
Back in July 2022, she became the youngest billionaire to make the Forbes list at the age of 34, beating out Kylie Jenner’s previously-held record (which was later revealed by the outlet to be a fraudulent claim).
While some of that money is from her music career, the bulk of it comes from her three retail companies: Fenty Beauty, Fenty Skin and Savage X Fenty. According to MSNBC, Savage X Fenty lingerie was working with advisors on an IPO that could potentially be valued at $3billion. Not only does she own 30 percent of that company, the 34-year-old also owns half of Fenty Beauty, which pulled in over $550 million in revenue in 2020.
In 2022, it was revealed that Fenty Beauty doubled its revenue over the previous year. What’s more, the company now has a valuation of $2.8billion, and half of that belongs to Rihanna herself.
In a 2019 interview with New York Times T Magazine, Rihanna made it clear her massive fortune was essentially a happy (and wildly fruitful) accident. Reaching financial milestones, she said, was “not going to stop me from working.”
She added: “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 priority, and it makes you really miss the core of life, what it means to be alive.”