The 34-year-old singer and Fenty Beauty CEO, Robyn Rihanna graced Forbes’ annual list of America’s richest self-made women for the third year in a row. Rihanna ranked 21st overall and is the list’s only billionaire under the age of 40.
Some of Rihanna’s $1.4 billion net worth is from her successful music career. Most of it comes from her three retail companies: FentyBeauty, Fenty Skin, and Savage X Fenty. Savage X Fenty lingerie is reportedly working on an IPO that could potentially be valued at $3 billion.
In 2019, she told The New York Times Magazine that because she never planned on making a fortune, reaching financial milestones was not going to stop her from working. The nine-time Grammy Award winner also said she wants to give that money away to causes that matter, anyway
“My money is not for me; it’s always the thought that I can help someone else,” she said.
The world can make you believe that the wrong things are a priority, and it makes you miss the core of life, what it means to be alive.
In 2012, Rihanna started a philanthropy fund, the Clara Lionel Foundation (CLF). It aims to support and fund groundbreaking education and climate resilience initiatives according to itsÂ website.
One of its first initiatives, which launched a year after the founda began, raised $60 million for women and children affected by HIV/AIDS through sales from the singer’s lipstick line with MAC Cosmetics.
In January, CLF paired up with Twitter co-founder Jack Dorseyâs #SmartSmall initiative to donate a combined $15 million to 18 different climate justice groups.
That money is meant for organizations focused on and led by women, youth, Black, Indigenous, people of color, and LGBTQIA+ communities in the U.S.and Caribbean, according to the CLF website. In January, Rihanna emphasized climate disasters.
At the [CLF], much of the work is rooted in the understanding that climate disasters, which are growing in frequency and intensity, do not impact all communities equally, with communities of color and island nations facing the brunt of climate change, Rihanna said in a January statement. It was reported by CNBC.