Rihanna is known around the world because of her amazing success in the music industry. She has earned loads of money from album sales and shows since she burst into the music scene. The 34-year-old songstress is now a billionaire in her own right after venturing into the business world by launching her own companies. Fenty Beauty, valued at $ 2.8 billion, is one of Rihanna’s companies that she owns.
Rihanna has now created her own business empire and has a net worth of around $1.7 billion. Her monstrous net worth makes her the wealthiest female musician at the moment. The nine Grammy Awards winner was recently named Forbes’ first-ever youngest self-made billionaire in 2022.
In this article, we shall uncover how the versatile singer came to her immense wealth and also her incredible musical journey spanning more than two decades has been. Stick around.
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Rihanna’s Net Worth in 2023
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Who is Rihanna?
Robyn Rihanna Fenty was born on 20th February 1988 in a Caribbean town known as Saint Michael, Barbados. Her biological parents are Monica and Ronald Fenty. She was raised alongside two stepbrothers and two stepsisters that came from her father’s previous marriages.
Rihanna descends from many heritages because of her parents but identifies herself as Barbadian. During her upbringing, she was deeply affected by her father’s pathological drinking habits as it resulted in an unhappy marriage between her parents. Rihanna endured physical abuse as a child while she tried to shield her helpless mother when fights broke out at home mostly caused by her intoxicated father.
At 14, Rihanna had to visit a neurologist for CT scans after suffering severe head injuries from one of those fights. In one interview, Rihanna admitted that her head injuries caused excruciating pain as a child and was thought to be cancer. Her health improved after her parents parted ways indicating the physical and emotional misery she underwent at a tender age.
Love for music
Rihanna’s love for reggae music was extraordinary especially because she hails from the Caribbean island where that type of music is common and a lifestyle. In school, she was actively involved in singing and acting which laid a firm foundation and a blueprint for her career ahead. She once performed a flawless cover of Mariah Carey’s smash song titled “Hero” at her high school talent show and brought the roof down with such a spirited performance.
In high school, Rihanna and two of her friends formed an all-girl group that became very popular in school and beyond. The girl group from Barbados attracted the attention of a renowned American record producer, Evan Roger. Evan made contact with the trio and arranged for an audition in the US.
Rihanna and her girl group went to Evan Rogers for the audition determined to sweep the producer off his feet. They performed perfect renditions of two classic songs titled “Emotion by Destiny’s Child and “Hero” by Mariah Carey. Rihanna was outstanding throughout the performance but her charisma set her apart from her friends according to Evans’s declaration in an interview.
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Beginning of Rihanna’s music career
Rihanna’s career was set in motion shortly after her meeting with Rogers for a second time alone alongside her mother. She flew to the US and had several studio sessions where she started working on a demo tape. She recorded several songs which were to be sent to other record labels in the US. It took almost one year to record two songs because she was still in school and was only available during the holidays.
Her demo songs “Pon de Replay” and “The last time” became her most intriguing songs of the demo tape to record producers. Rihanna signed her first professional contract with the record company Syndicated Rhythm Productions run by Rogers and Carl Sturken in 2003.
Rihanna Debut album
The demo tape found its way to DEF Jam Records in 2005 leading to Rihanna meeting with Jay Z (the then president of DEF Jam record label).
After Jay listened to the demo tape, he went further as to playing the tape to several executives at Def Jam including Antonio Reid, another music mogul. They were all dazzled and in disbelief because of the exceptional voice the high school dropout possessed. Jay Z was instructed to act fast and secure Rihanna’s signature even before she stepped out of the room.
Def Jam management team and Jay Z worked on a record deal for the entire night since they feared another record label could swoop in and hijack the deal. Rihanna was presented with a six-album record deal the next morning which she signed subsequently. She canceled all engagements with other parties immediately. This became the first professional contract she ever signed.
After she was immediately signed to Def Jam, Rihanna wasted no time in releasing her first album. She spent close to three months recording songs for her highly anticipated debut album titled, Music of the Sun.
She released her debut album in August 2005 which included the chart-topping single Pon de Replay. She had released the hit single earlier in May the same year. The album sold over 2 million copies worldwide receiving gold certification in the United States.
Other studio albums
Her first album’s success prompted her to release a second album in 2006 titled A Girl Like Me. She released it in April barely three months after releasing her first album. Her second album continued to propel her spectacular rise around the globe to greater heights.
The album was Platinum certified by the RIIA after selling more than 1 million copies in its first week of release. Hit singles such as SOS and Unfaithful all reached number one on the US Billboard charts. We Ride and Break It Off are some of the songs in the album that were commercial successes.
Good Girl, Gone Bad
In 2007, Rihanna released her third studio album Good Girl Gone Bad in which she decided to mix up things. The tempo in the album went a notch higher which turned out to be a stroke of genius. Her fans and critics appreciated the album terming it a more enjoyable album compared to her previous two albums. She worked with other reputable music producers like Timbaland and Sean Garnett on this album.
The album achieved massive success mainly because of the hit single “Umbrella” featuring Jay Z. The single rocked global charts for more than ten weeks becoming only the second song to remain at the top for 10 weeks running in the US. The other song to achieve this fete was “Love is all around” back in 1994(15 weeks).
Good Girl Gone Bad has sold over 2.8 million copies in the US and 9 million copies around the world. This third album remains Rihanna’s best-selling album of her career.
To date, Rihanna has released 8 studio albums, 3 EPs, 1 soundtrack, and 2 remix albums in her music career. Rihanna has sold more than 60 million copies that are platinum certified.
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Rihanna Net Worth in 2023
Rihanna attained billionaire status simply because her business ventures generate millions of dollars in revenue every year apart from her music. Since 2011, Rihanna has ventured into several business opportunities mainly in the fashion and beauty space. She has also partnered with other artists and big companies in the past as a way of earning to supplement proceeds from her music. Here is a list of business ventures and companies that contribute to Rihanna’s net worth.
Album sales
Her album sales throughout her career account for a large portion of Rihanna worth. She has managed to earn millions of dollars from records sold around the globe since 2005. Her 8 studio albums are reported to have sold over 250 million units worldwide. She is now the top-selling digital artist of all time surpassing artists like Beyoncé. She has unquestionably made hundreds of millions of dollars from record sales throughout her music career.
Online streaming revenue
Rihanna also earns a substantial amount from online streaming platforms like Spotify and Tidal that offer streaming services. Currently, she has over 75 million monthly listeners on Spotify and has accumulated over 15 billion streams. On Apple Music, she was the first female artist to surpass the 2 billion streams mark.
On YouTube, her music videos have over 3 billion views. One music video can earn her tens of millions of dollars based on the views it gets. She gets an average annual income of $40 to 70 million from online streaming services.
Films and Appearances
Rihanna has tried her hand at acting by starring in several blockbuster movies and television shows too. She has starred in big-budget films like Battleship (2012), Ocean’s 8 (2018), and Home (2015). She also composed the soundtrack to black panther titled “Wakanda Forever” in 2022.
Fenty Beauty
After working with a host of companies in the beauty industry during her career, she was keen on establishing her own brand. Back in the day, she had launched a designer fragrance line so she was equipped fully with ways of running a successful venture. In 2017, Rihanna launched Fenty Beauty
After working with a host of beauty companies during her career, she was keen on establishing her own brand. Back in the day, she had launched a designer fragrance line so she was equipped fully with ways of running a successful venture. In 2017, Rihanna launched Fenty Beauty by partnering with LVMH, a major luxury fashion house. The partnership was worth $10 million whereby Rihanna owned 50% of the business.
Fenty Beauty is a beauty line with products ranging from foundations for every skin tone, lip glosses, blotting sheets, and highlighters among other makeup products. Fenty was termed a breath of fresh air by customers who used their beauty products because of the wide range of cosmetics for all skin types.
Fenty Beauty is worth $ 2.8 billion according to estimates by Forbes. Since Rihanna owns half the company, it accounts for more than half of her gross net worth estimated to be around $1.4 billion. In 2020, the Fenty Beauty line reportedly generated more than $550 million in revenue in 2020 despite the economic hardships caused by the pandemic. The company’s success was mainly due to the efficient distribution channels to reach customers around the world.
Savage X Fenty
Rihanna fashion sense drove her to launch a lingerie company called Savage X Fenty in 2018. She promoted the brand on her shows and was well received because they sold lingerie for all body shapes and sizes. Bloomberg reported that the lingerie brand is worth more than $3 billion dollars and that Rihanna owns 30% of the company.
Fenty skin
In 2020, Rihanna announced the launch of a skincare line under the name Fenty Skin. She was inspired to launch a skin care product line because she had a bad experience as a teen with a certain product that discolored her skin. The company claims that it uses high-quality ingredients to manufacture moisturizers, eye care products, body oils, cleansers, and tone serums.
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Properties owned by Rihanna
Rihanna has acquired several properties worth millions throughout her stellar career as her net worth increased gradually. She is the richest female musician with a net worth of $1.7 billion with millions tied up in properties that she owns.
Rihanna bought her first house to the tune of $6.9 million in Hollywood but sold it later citing major structural problems which included leakages. She decided to put the mansion on offer but incurred a loss after accepting a $5 million offer.
In 2013, Rihanna purchased a $22 million villa in Barbados near the renowned Sandy Lane Hotel. She also forked out $5.5 million for a penthouse on Century Towers in 2017. It is believed that Rihanna still owns the property and is definitely worth more than she had originally bought it.
Rihanna then bought a six-bedroom house in Hollywood Hills for $ 6.8 million in 2017 which she now rents out for more than $ 35,000 per month. The business mogul recently splashed close to $ 21 million on a penthouse in Los Angeles located on the 40th floor of the Century Towers where she had a condo in 2017. She now owns the most exclusive multi-million dollar property in California.
The Grammy award-winning singer also recently purchased two adjacent mansions valued at $14 million and $10 million each in Beverly Hills, California. Those are some of the very many properties that make up Rihanna’s net worth.
Marriage and Relationships
Rihanna has had her fair share of drama when it comes to her dating life. In 2008, Rihanna dated Chris Brown, a popular RnB musician, but ended their relationship in 2009. The end of the prolific relationship was heavily publicized after reports of domestic violence emerged.
She went on to release an entire album titled Rated R which reflected on her experiences during the abusive relationship. Rihanna found love again when she began dating another musician, Drake. Their relationship was on and off but didn’t amount to anything since it ended in 2016.
In 2019, she announced her engagement to her longtime best friend, Asap Rocky. One year later, the couple revealed the arrival of their firstborn son via an interview. They are still married and are awaiting their second child as confirmed during the Superbowl Half Time Show.
Partnerships
Rihanna is also part owner of an online music streaming platform called Tidal. The streaming service has multiple owners such as Jay Z (20% part owner), Beyonce, Kanye West, and Rihanna just to name a few.
Rihanna’s ownership has not yet been determined. Rihanna signed a 4-year deal with Puma, to become the brand ambassador in 2014. It’s unclear how much money she pocketed but she without a doubt made a hefty cheque.
She has partnered with Dior, Gucci, Louis Vuitton, Chopard, MAC Cosmetics, and more.
Super Bowl Halftime Show
Rihanna came out of a 5 years hiatus from music at the grandest stage by headlining the 2023 Super Bowl Halftime show.
However, Rihanna performing at the show was free but she arguably made tens of millions of dollars from the free publicity she got for her businesses. It was reported that Fenty saw an increase in revenue after the Superbowl halftime show and so are her music streams online.
Conclusion
Rihanna’s net worth makes her one of the richest singers of our generation. She started doing music in the early 2000s and has excelled in the music world. She’s created a multi-billion dollar business empire in fashion to become the most successful beauty entrepreneur in recent times. She is only the second black woman besides Oprah Winfrey to have a net worth of more than $1 billion dollar. For this reason, she is also the second richest female entertainer.
That said, much of her total wealth is attributed to her 50% ownership of Fenty Beauty and Savage X Fenty. Rihanna’s net worth is subject to change based on how her ventures perform.
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David Fortune has been the editor NoBSIMReviews.com since 2019. He is an expert at writing content on stock advisory services, side hustles, reviewing online business opportunities and many more topics. You can learn more about David on our about us page.