Jul 5, 2022 - Economy

Beauty businesses fuel celebrity wealth

Rihanna standing in front of her makeup counter at Ulta beauty

Rihanna at an ULTA Beauty in March in Los Angeles. Photo: Kevin Mazur/Getty Images for Fenty Beauty by Rihanna

Rihanna, at 34, is America’s youngest self-made billionaire woman, CNBC noted Monday.

Why it matters: Makeup is a big driver of her wealth, making her one of the most successful celebrities flooding the beauty market.

Catch up quick: The music icon/ business mogul made Forbes’ Billionaires List for the first time in April.

  • In 2020, her Fenty Beauty brand — which she co-owns with French luxury conglomerate LVMH — generated more than $550 million in revenue, according to Forbes.

The big picture: Among the other celebrities using their star power to fuel beauty brands are actresses Gabrielle Union, Kristen Bell, and Selena Gomez; tennis star Venus Williams and music producer Pharrell Williams.

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