Rihanna Dethrones Kylie Jenner as Youngest Woman Self-Made Billionaire

Rihanna is the youngest lady to be named on Forbes‘ annual record of self-made billionaire women of all ages in the U.S.—giving her a title as soon as bestowed upon Kylie Jenner, before it was unceremoniously snatched away.

Barbados-born Rihanna, 34, released what would develop into a massively successful pop vocation in the aughts, ahead of going on to develop on her fortune with her Fenty Splendor cosmetics line, which she co-owns with French luxury retailer LVMH.

In accordance to Forbes, the line created extra than $550 million in earnings in 2020 by yourself, when her Savage x Fenty lingerie line, in which she retains a 30 per cent stake, elevated revenue at a $1 billion valuation in February 2021.

Rihanna sits between a host of businesswomen on the prestigious business publication’s America’s Richest Self-Designed Ladies record, on which she seems in 21st place with a fortune of $1.4 billion.

Oprah Winfrey, 68, is 10th with $2.6 billion.

Rihanna, who has also launched charity Clara Lionel Foundation since hitting fame, spoke about her method to prosperity in a 2019 interview with the New York Times‘ T Journal.

“My revenue is not for me it is constantly the considered that I can assistance another person else,” she explained. “The environment can definitely make you imagine that the wrong matters are priority, and it tends to make you actually pass up the core of lifestyle, what it means to be alive.”

The future youngest human being to be named on Forbes‘ listing is Kim Kardashian, 41, who sits in 16th position with a $1.8 billion fortune, many thanks in substantial aspect to her cosmetics and fragrance corporation, KKW Magnificence, and her shapewear organization, Skims.

Nowhere to be identified on the checklist is Kardashian’s sister Jenner, who in 2020 was named on Forbes‘ World’s Youngest Billionaires checklist, only for the title to be taken absent amid the publication’s allegations of discrepancies on tax paperwork.

In 2019, Jenner offered her stake in the elegance model Kylie Cosmetics to the beauty firm, Coty, for about $600 million, for every The Hollywood Reporter. The hard cash-out from the deal pushed Jenner’s fortune to billionaire position and the beauty powerhouse was named by Forbes as the youngest billionaire at the age of 21.

But in 2020, a Forbes‘ expose recalculated the quantities and discovered discrepancies in Jenner’s internet value. The report examined revenue made in advance of and right after the pandemic struck. Jenner’s fortune was, at the time of the post, noted to be less than $900 million, underneath the billionaire rating.

The business publication accused Jenner, 24, of fudging the figures on the tax returns and earning Kylie Cosmetics larger than what the brand name really was.

In reaction to the Forbes report, the Kylie Pores and skin founder took to Twitter, where by she slammed the journal for publishing what she known as “inaccurate statements and unproven assumptions.”

Jenner’s attorney, Michael Kump, released an official statement to People and referred to the Forbes’ report as “supermarket tabloid.”

“It is unfortunate that, of all things, Forbes has devoted 3 reporters to look into the impact of the coronavirus crisis on Kylie’s internet well worth,” stated Kump.

Even though Jenner defended her fortune, Forbes stood by its reporting. Chief Communications Officer Matt Hutchison claimed in a assertion on the publication’s web-site: “Our reporters spotted the inaccuracies and spent months uncovering the facts. We motivate the legal professional to re-read through the posting.”