Rihanna and Michael Lee-Chin’s updated net worth was revealed by Forbes for their 2022 list of billionaires.
The 34-year-old singer and beauty mogul has made her way on Forbes annual billionaires list for the first time since turning a billionaire. Rihanna was first listed as a billionaire in 2021, with an estimated net worth of $1.7 billion. The credit behind the Fenty Beauty mogul’s latest title comes from her music earnings and her successful fashion and beauty ventures under the Fenty Beauty brand.
Forbes says the majority of her wealth is from her Fenty Beauty stake, which she co-owns with luxury conglomerate LVMH. That company made $550 million in revenue in 2020. Other revenue streams are from her 30 percent stake in Savage x Fenty which earned $115 million in series B funding at a $1 billion valuation in early 2021.
Of all of the titles she owns, however, none is as important as the one called ‘mother’. Rihanna is in her third trimester for her first child with rapper A$AP Rocky.
The latest title makes her the first Barbados billionaire, something she said she still marvels at in a New York Times interview.
“It’s tricky because it’s hard to even accept that’s where you’re at because I know where I’ve come from,” she said. “At the same time, it feels good to be able to inspire young women and boys, who like me, come from humble beginnings, who come from parents who are immigrants or who are immigrants themselves, to be able to do this.”
Rihanna is the second Caribbean-born billionaire to make the billionaire list. Jamaican Michael Lee-Chin is the first, and he remains on the list published on Wednesday morning.
Michael Lee-Chin and Rihanna are among a total of 2,668 people in the world who are billionaires.
Lee-Chin is the chairman of the National Commercial Bank group and has a net worth of $1.9 billion, ranking him above Rihanna and making him the 1,667th person on the list.
Meanwhile, the wealthiest person on the planet is tech billionaire Elon Musk, 50, with an estimated net worth of $219 billion. He is closely followed by Amazon’s Jeff Bezos with $171 billion, while Bernard Arnault and family, who own the LVMH luxury brand, come in third with $158 billion, Bill Gates, co-founder of Microsoft with $129 billion, and Warren Buffet, the chairman of Berkshire Hathaway with $118 billion.
Meanwhile, other celebrities that were listed as billionaires included Kanye West at $2 billion, which he disputes, his estranged wife Kim Kardashian at $1.8 billion, Jay-Z with $1.4 billion); and first-timer Tyler Perry with $1 billion, Steven Spielberg with $3.7 billion, and Oprah Winfrey at $2.6 billion round off the top celebs who are on the list.