Rihanna is the richest musician, however apparently nearly went bankrupt

Jakarta, CNBC Indonesia – Who would not know Rihanna? An exceptional music icon who has made many achievements.

Since releasing her first studio album, the woman born Robyn Rihanna Fenty has offered greater than US$60 million and 215 million digital tracks, making her one of many best-selling digital artists of all time, as reported by Enterprise Insider.

In 2021, Rihanna has gained the title of world billionaire for the primary time. Based on Forbes estimates, on the time, Rihanna had a complete fortune of US$1.7 billion, which made her the richest feminine musician on this planet. Nevertheless, who would have thought that well-known and richest musicians like Rihanna had ever been on the sting of chapter.

Picture: Getty Photographs/Kevin Sabitus
GLENDALE, AZ – FEBRUARY 12: Rihanna performs throughout the Apple Music Tremendous Bowl LVII Halftime Present at State Farm Stadium on February 12, 2023 in Glendale, Arizona. (Picture by Kevin Sabitus/Getty Photographs)

Rihanna Chapter Story

As AfroTech stories, Rihanna’s journey hasn’t at all times been straightforward.

In 2007, across the time Rihanna launched her hit “Umbrella,” her fortune topped almost $50 million. Nevertheless, two years later, the singer-turned-entrepreneur confronted chapter.

Based on authorized paperwork obtained TMZ, Rihanna claims she had US$11 million in money at first of 2009, however solely US$2 million left on the finish of the 12 months. And in line with Rihanna, the disappearance of those unbelievable funds shouldn’t be due to her spending habits.

Whereas US$2 million is some huge cash for most individuals, the issue is that Rihanna purchased a home for about US$7 that 12 months, which her accountants agreed to. Rihanna ultimately offered the property for a lack of US$2 million.

Rihanna in the end gained a lawsuit in opposition to Berdon LLP in 2012, and obtained US$ 10 million in damages.

Rihanna’s Life Modified For The Higher

In 2017, Rihanna made historical past when she grew to become the primary black girl to accomplice with luxurious conglomerate LVMH, and to this point, the enterprise enterprise is her most worthwhile.

Of the US$3 billion firm, Rihanna reportedly owns a 15% stake and has created a number of luxurious manufacturers underneath the LVMH umbrella.

Rihanna created Fenty Magnificence, a multibillion-dollar magnificence line, lingerie model Savage X Fenty, and skincare firm Fenty Pores and skin.

And that was simply the beginning of how Rihanna amassed her $1.7 billion web price.

Row of Enterprise Owned by Rihanna

Fenty Beauty products are displayed in-store as Rihanna celebrates the launch of Fenty Beauty at ULTA Beauty on March 12, 2022 in Los Angeles, California.  (Photo File - Kevin Mazur/Getty Images for Fenty Beauty by Rihanna)Pictured: Fenty Magnificence merchandise are displayed in-store as Rihanna celebrates the launch of Fenty Magnificence at ULTA Magnificence on March 12, 2022 in Los Angeles, California. (Picture Recordsdata – Getty Photographs for Fenty Magnificence by/Kevin Mazur)

Rihanna has developed quite a few numerous and worthwhile companies. One of many greatest contributors to her fortune is her partnership with LVMH, the place Fenty Magnificence is a really profitable firm with Rihanna holding a 15% stake and the corporate’s worth is over $3 billion.

Fenty Magnificence was an enormous success in a short while, producing $570 million in income in simply 15 months of its launch.

In Might, Rihanna and LVMH launched Fenty, a style home providing clothes, footwear, equipment and jewelery.

Aside from the wonder enterprise, Rihanna additionally has an underwear line known as Savage X Fenty in collaboration with Tech Model Trend, a web based style firm.

Moreover, Rihanna has dabbled in the true property business with possession of a number of properties, together with an house in Los Angeles and a apartment within the Wilshire Hall.

He additionally purchased an property within the Hollywood Hills which he later offered, in addition to shopping for one other property in West Hollywood earlier than promoting it. Rihanna additionally rented a penthouse in Manhattan and lived in London for a 12 months.

Aside from enterprise and property, Rihanna has additionally proven curiosity in creating new music.

He reportedly recorded music on an property on Osea Island with lavish amenities reminiscent of a health club, cinema, swimming pool, and cottages.

With the number of companies she has efficiently run, Rihanna continues to show that success and wealth will be achieved via quite a lot of abilities and persistence in doing enterprise.

[Gambas:Video CNBC]