This is how Rihanna built a fortune worth $1.7 billion to become the richest female singer-songwriter in the world!

Like this, who can beat Rihanna when it comes to making money?

With a fortune of up to 1.7 billion USD, singer-songwriter and businessman Rihanna has entered the list of world billionaires by the famous Forbes magazine announced on August 4, 2021. Rihanna became the richest female singer and songwriter in the world and the second richest female artist in the entertainment industry, after famous female artist Oprah Winfrey.

In addition to her music, she also earns a huge income through many other channels. Here are the lessons we can learn from all the ways Rihanna makes money.

1. Diversify income

Rihanna doesn’t limit herself to just making money from music. She also generates many sources of income from other activities.

In 2016, in its research, MONEY stated that she was “the celebrity with the largest active market in the world.” She has also collaborated with many famous brands including Balmain, Armani, Mac and River Island.

According to MONEY, one of Rihanna’s most prominent collaborations is with Puma. She was appointed the brand’s creative director in 2014 with a contract worth $1 million (VND 22.8 billion) – and people immediately fell in love with her designs. Within six months, footwear sales increased about 16%.

She has also acted in a number of films, such as: The Gang of the Century: The Class of Ladies, Valerian and the City of a Thousand Planets, Living to the Last Day.

2. Find a niche market

Rihanna’s current business activities range from cosmetics, perfume to lingerie.

One of her most famous projects is her makeup line, Fenty Beauty. According to Vogue, it brought her an incredible revenue of 100 million dollars (more than 2 trillion) within 40 days.

According to The Guardian, when Fenty Beauty launched at the Harvey Nichols department store in London in September 2017, people lined up around the block and waited for hours. On the website, 8,500 online customers lined up to buy the product before 8 a.m. on the launch day.

“While we anticipate that the brand will be popular with our customers as well as Rihanna fans, we cannot predict how quickly the product will sell out.” Jo Osborne, the department store’s director of franchises and beauty, told The Guardian. “Rihanna is definitely a smart businesswoman who is amassing quite the empire.”

Rihanna also prioritized uniqueness in the design of her new lingerie line, Savage x Fenty, which is marketed for women of all shapes and sizes. She has delivered a message supporting body positivity. She shared that she feels “very beautiful and confident” even though she is “not built like a Victoria’s Secret girl” .

In addition to makeup and lingerie, the businesswoman has also created at least six perfumes, one of which – Reb’l Fleur – brought in an estimated $80 million (1.8 trillion) in sales in 2011.

3. Fight for your money

Rihanna’s lyrics prove that she will definitely get what she deserves. The B-tch song Better Have My Money is said to be inspired by the troubles Rihanna had with her former accountant. This is the person who allegedly gave her bad advice that nearly bankrupted her in 2009, according to HuffPost.

She filed a lawsuit against the company in 2012. Rihanna said her accountant negligently told her that her tour was losing money. Then advised her to buy a house priced from 7 to 7.5 million dollars (160 – 171 billion VND). Rihanna eventually won the lawsuit with a settlement of $10 million (VND 228 billion).

The hit song even became the anthem of Washington DC university students protesting the theft of $1 million (VND 22.8 billion) from the school’s financial aid, Billboard reported.

4. Turn your financial losses into wins

Rihanna reportedly lost $1.9 million (43.4 billion) when she sold a house for significantly less than she paid for it, according to Curbed. But she didn’t let that stop her from continuing to invest in real estate.

The singer bought a house in West Hollywood for $2.75 million (VND 62.8 billion) in August 2017 and put it on the market for $2.85 million (VND 65.1 billion) in October, according to MONEY.

At that time, Rihanna rented it for $16,500 (377 million VND) a month, Observer reported.

5. Always give to others

Rihanna doesn’t keep all her hard-earned money for herself. In 2012, she founded the Clara Lionel Foundation, named after her grandparents and “working to improve the quality of life for communities globally in the areas of health, education, arts and culture “ , according to Rihanna’s website.

In 2016, Rihanna announced the launch of a scholarship program through a foundation that provides full scholarships to students from Barbados, Brazil, Cuba, Haiti, Guyana, Jamaica or the United States, Stacks magazine reported.

Photo: Summary