According to CNBC, Rihanna recently became the youngest self-made billionaire woman in the U.S. She reached this level of success through her music career and investments. She made Forbes’ annual list of America’s richest self-made women for three consecutive years. She has three companies: Fenty Beauty, Fenty Skin and Savage X Fenty.
Savage X Fenty is preparing for an IPO valued at $3 billion; Rihanna owns 30% of the company. She owns 50% of Fenty Beauty and generated $550 million in revenue in 2020. The other 50% of the company is owned by LVMH.
Rihanna plans to continue making significant contributions to charity. “My money is not for me; it’s always the thought that I can help someone else,” she said. “The world can really make you believe that the wrong things are priority, and it makes you really miss the core of life, what it means to be alive.”
In 2012, she created Clara Lionel Foundation (CLF)-a philanthropy fund. It aspires to “support and fund groundbreaking education and climate resilience initiatives,” according to its official website. It raised $60 million for women and children affected by HIV/AIDS and collaborated with Twitter co-founder Jack Dorsey’s initiative by donating a combined $15 million to 18 climate justice organizations.
CLF raises money for organizations that are “focused on and led by women, youth, Black, Indigenous people of color and LGBTAQIA+ communities.”
“At the CLF, much of the work is rooted in the understanding that climate disasters, which are growing in frequency and intensity, do not impact all communities equally, with communities of color and island nations facing the brunt of climate change,” Rihanna expressed.