Beauty businesses fuel celebrity wealth
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.