Rihanna Becomes First Black Woman to Build Two Billion-Dollar Companies

Rihanna has made history as the first Black woman to build two separate companies worth over $1 billion each. Fenty Beauty and Savage X Fenty together command a valuation topping $3 billion, per Parade.

Fenty Beauty arrived in 2017 with foundation shades crafted for a broad array of skin tones. 

"Makeup is like a secret weapon. It can go from very subtle to a complete transformation," Rihanna told Time in 2017. She said it was "important that every woman felt included," and explained that she remained closely involved in product development with Kendo, the brand's parent company.

She added, "I love challenges. So I'm going to continue to have fun and push the boundaries in this industry."

The brand pulled in $72 million in earned media value during its opening month. Within its first 40 days, it hit $100 million in sales. By the end of 2018, Fenty Beauty had raked in nearly $573 million.

By 2021, the cosmetics line reached an estimated $2.8 billion valuation. It runs through a partnership with Louis Vuitton Moët Hennessy.

Savage X Fenty, meanwhile, debuted in 2018 as a lingerie label centered on size inclusivity and varied representation. TechStyle Fashion Group partnered with her to launch it. The entire first collection vanished from shelves in under 30 days.

In 2021, Savage X Fenty hit a valuation above $1 billion after securing $115 million through Series B funding. At that point, revenue had grown over 200% while active VIP members jumped more than 150%.

The label then opened storefronts across the U.S. and pulled in another $125 million from Neuberger Berman, pushing total venture capital funding to $310 million, per Forbes.

In 2023, the performer stepped away from her role as CEO of Savage X Fenty. "It's been beautiful to see our vision for Savage X Fenty impact the industry at such an incredible magnitude over the last five years … This is just the beginning for us," she said in a statement shared with Vogue Business.

Her portfolio also contains Fenty Skin and the developing Fenty Hair line. She pulls in between $40 million and $80 million each year from her beauty brands, per Forbes.