July 06, 2022

Rihanna Earns “America’s Youngest Self-Made Female Billionaire” Title

Barbadian singer Rihanna has been recently named by “Forbes” as the youngest, self-made female billionaire in the United States of America, with a net worth of $1.4 billion.

The 34-year-old artist partially owes her success to several hit singles, including “Umbrella” and “We Found Love” with Calvin Harris, amongst other bangers.

However, she also has a lucrative beauty and fashion empire that includes Fenty Beauty, Fenty Skin, and Savage X Fenty.

A bulk of her fortune is said to come from Fenty Beauty, which generated $550 million in revenue in 2020 alone. The cosmetics company is co-owned by  LVMH Moët Hennessy Louis Vuitton.

However, Fenty Beauty has been met with some disturbing allegations, including using mica (a mineral often used to add shimmer and colour to make-up) from mines in Jharkhand, India – where child labourers are said to work in dire conditions.

A complaint was filed last year in February 2021 by Vinay Joshi of the Legal Rights Observatory NGO to the National Commission for Protection of Child Rights (NCPCR). The NGO claims that Fenty Beauty does not have the correct certification to prove that its resources were sourced responsibly.

The NCPCR investigation into the matter is reported to be ongoing.

Image Credit: Source