Rihanna, Jay-Z and Kanye West's vast fortunes sit among the world's super-rich

Rihanna, Jay-Z and Kanye West's vast fortunes sit among the world's super-rich
Rihanna, Jay-Z and Kanye West's vast fortunes sit among the world's super-rich
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Rihanna, Jay-Z and Kanye West's vast fortunes sit among the world's super-rich Kanye West Rihanna, Jay-Z and Kanye West crack Forbes' coveted Billionaires List for the first time Kanye West, one of the richest people in the world, was included in the list of the super rich. Along with Kanye West, other people on the list, including Rihanna. It can now be said that Kanye West has a legendary fortune. Kanye West also won several awards at the Grammy Awards 2022. The SOS hitmaker, who was officially certified a billionaire in August 2021 thanks to her vast beauty and lingerie empire, landed at 1,729 on the annual list, making her the world's richest female musician. Meanwhile Kanye, who has allegedly disputed his Forbes value at $2 billion by claiming he's actually worth $7 billion, landed at number 1,513 thanks to his lucrative Yeezy partnership with Adidas and deal with Gap. Rihanna is thought to have been named as Barbados' first billionaire thanks to her enormous fortune, making her a member of the coveted Forbes club. The star is due to welcome her first child with beau A$AP Rocky in the coming weeks. It was previously claimed the bulk of her fortune ($1.4billion/£1billion) comes from her 50 percent stake in her cosmetics line Fenty Beauty - a joint venture with French luxury goods conglomerate LVMH - and worth $2.8billion (£2billion) in total. Her $270million (£190million) stake in the wildly successful Savage X Fenty lingerie line and her wealth from her 16 year recording career all make up the mogul's mass wealth. Rihanna founded acclaimed beauty brand Fenty Beauty back in 2017 with a desire to 'make women everywhere (feel) included.' It became a leader in providing diversity in the makeup industry when it first launched 40 shades for its foundation line. The You Da One singer first put out her makeup line at Sephora, racking up sales eclipsing $100 million over the course of its first few weeks. By the end of its first full calendar year in 2018, LVMH said the brand took home $550million (£394million) in annual revenues, trouncing celebrity cosmetics brands such as Kylie Cosmetics and KKW Beauty. The high-end brand turned into a billion dollar business in less than four years, and with the launch of Fenty Skin last year, looks set to grow even further. Fenty Skin had sales of $30million in under four months on its e-store, WWD reports. Rihanna's Savage X Fenty lingerie line, which she has a 30 per cent stake in, is also worth $1billion (£717million). FENTY BEAUTY - $1.4BILLION Rihanna founded the acclaimed beauty brand back in 2017 with a desire to 'make women everywhere (feel) included.' She said 'Make-up is there for you to have fun with. It should never feel like pressure. It should never feel like a uniform. Feel free to take chances, and take risks, and dare to do something new or different.' The beauty brand is a 50-50 joint venture with French luxury goods conglomerate LVMH. The You Da One singer first put out her makeup line at Sephora, racking up sales eclipsing $100 million over the course of its first few weeks The high-end brand turned into a billion dollar business (now valued at $2.8 billion) in less than four years with the bulk of the star's fortune coming from this. Fenty Skin also launched last year - with the company set to grow even further. SAVAGE X FENTY - $270million Rihanna launched her wildly popular lingerie line back in May 2018 - and it is now worth an estimated $1billion - with Rihanna maintaining a 30% stake in the business. A second round of funding for the brand back in February secured a whopping $115 million for Savage X Fenty, with L Catterton, a private equity firm that fashion house LVMH has a stake in, taking a percentage of the line. The line was launched in 2018 and is anticipated to be the market's leader by 2025. Last year, Savage X Fenty saw revenue growth of more than 200% and 'increased its active VIP member base by more than 150%.' MUSIC/ACTING - $30million Although the star hasn't released new music since 2016's ANTI, she has amassed a fortune from her recording career which kicked off back in 2005 with debut single Pon De Replay. The star has sold more than 250million records worldwide and is one of the most successful recording artists of all time. A second round of funding for the brand in February secured a whopping $115 million (£82.7 million) for Savage X Fenty, with L Catterton, a private equity firm that fashion house LVMH has a stake in, taking a percentage of the line. Meanwhile Jay-Z - long known as one of hip hop's riches stars - boasts a $1.4 billion portfolio that puts him at 2,076 on the billionaires list. The music icon's worth includes the sale of his Tidal streaming service and Armand de Brignac champagne to LVMH, as well as his Roc Nation empire. Kanye has reportedly disputed his valuing of Forbes at $2 billion, claiming it's actually $7 billion, according to The Blast. Kanye follows Oprah Winfrey, who is valued at $2.6 billion, while his ex-wife Kim Kardashian trails him at $1.8 billion, according to ET Canada. West has several deals in place, but the magazine's criteria for determining someone's wealth does not take into account the 'enterprise value of long-term deals that are in place,' according to The Blast. Net worth is determined in part on 'revenue from last year only.' The Blast claims West's team was told about the article in advance and are not pleased by the way his value has been inputted in the story. On top of his wildly successful music career, West has a multi-year deal with Adidas with his wildly successful Yeezy range, in addition to a major one with Gap which sees him produce and design apparel for the company. The Yeezy Gap clothing collaboration garnered $1 billion in sales in its first year and now a new range, Yeezy Gap Engineered by Balenciaga, will be released later this year. Kanye also owns a small stake in his ex-wife Kim Kardashian's shapewear brand Skims, according to The Blast. According to The Blast, West thinks the publication is trying to 'control and diminish him even at the cost of their own integrity.' This is not the first time Kanye has expressed his displeasure with Forbes. West allegedly sent the magazine a text message criticizing their evaluation of his net worth after the publication bestowed him with the billionaire title in 2020. The article revealed how the rapper provided documents to the publication, giving them an 'authentic numeric look into Kanye, Inc.' to prove the feat. However, the article notes that West was left unhappy with their research and findings - stating that he believes his net worth to be around $3.3 billion, rather than the $1.26 billion they have estimated. 'It's not a billion,' West allegedly texted the publication. 'It's $3.3 billion since no one at Forbes knows how to count.' Topping the coveted Forbes Billionaire List is Tesla and SpaceX founder Elon Musk, who earlier this week announced he'd purchased a share in Twitter and landed a seat on the social media site's board. It's estimated the mogul's net worth currently sits at $219 billion. Joining him is Amazon's Jezz Bezos in second place with $171 billion, while Microsoft co-founder Bill Gates is in fourth place with $129 billion. Rihanna, Jay-Z and Kanye West's vast fortunes sit among the world's super-rich | Tribun24 Source Daily Mail

Rihanna, Jay-Z and Kanye West's vast fortunes sit among the world's super-rich

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