So it’s been recently reported that some of the most recognized figures in Hip-Pop culture are also the richest! Beyoncé was noted in ‘16 and ‘17 as being the highest paid women in the music industry; it’s also important to note that Hip-Hop veteran Master P still ranks at #6 on Forbes Richest African-American Musicians 2018 year end list. Diddy, Diana Ross and Dr. Dre also hold a significant amount of fortune even though some may not be as popular as others.
Recently reported in June of 2019; Rihana emerged as the wealthiest female musician in the world; “The 31-year-old, whose real name is Robyn Rihanna Fenty, is worth a staggering $600 million, according to Forbes — overtaking Madonna by $30 million, Dion by $150 million and Beyoncé by $200 million.” Not too quite surprising; her Roc Nation leader Sean Carter (JAY-Z) was declared Hip-Hops 1st Billionaire ; “Back in 2007, Jay-Z made a bold statement in song about both his lyrical prowess and his future financial fortunes: “I’m already the G.O.A.T.–next stop is the billie.” And he made good on that!
So how exactly did it take Rihanna 15 years to amass a fortune that took others double that time to get there? And Is Jay-Z selling that many records to amount in the total of his worth over a Billion dollars? Not exactly; it takes some serious marketing and entrepreneurship to help gain the majority of that net worth. HBT has the facts of just how Rihanna and Jay-Z made the most of their money; and no, it’s not the music/ticket sales.
To estimate his net worth, we looked at Sean’s stakes in companies like Armand de Brignac champagne. (He owns 100% of Armand de Brignac and has partial ownership of the other companies.) Then added up his income, subtracting a healthy amount to account for a superstar lifestyle. Turns out, Jay-Z really is a business, man. Jay-Z has used his music to market the $300 gold bottles of the “Ace of Spades” champagne since launching the brand with the 2006 video “Show Me What You Got.” More recently, his verse on Meek Mill’s “What’s Free”.
Jay-Z’s cognac, a joint venture with beverage giant Bacardi, moves almost 200,000 cases and has grown nearly 80% annually. In 2015, Jay-Z submitted a bid to purchase the Scandinavian streaming service’s parent company (TIDAL) for just shy of $60 million. He relaunched Tidal later that year with a roster of celebrity investors including his wife, Beyoncé, and other music luminaries, from Kanye West to Calvin Harris. Roc Nation; this wide-ranging entertainment company started over a decade ago as part of a joint venture with concert giant Live Nation.
Before the beginning of his stint as Def Jam’s chief in 2004, Jay-Z negotiated the eventual return of his master recordings from the aforementioned label that helped launch his career; in a separate deal with EMI, he clawed back his publishing rights. Wise move: his hits now clock close to 1 billion streams annually.
So the majority of her income comes from her partnership with LVMH, the French luxury goods company that owns the likes of Christian Dior, Givenchy and Louis Vuitton.
Last month, the Barbadian star launched her fashion label Fenty at a pop-up boutique in Paris, becoming the first black woman to create an original brand with LVMH.
Fenty is just the latest of Rihanna’s business ventures, joining her lingerie label Savage X Fenty, which she launched last year, and her cosmetics brand, Fenty Beauty, set up in 2017.
The cosmetics firm generated an estimated $570 million in revenue in its first 15 months, according to Forbes, while the business magazine estimates that the operation is worth, conservatively, more than $3 billion.
While LVMH owns about half of that, Forbes estimates Rihanna’s stake at around 15%. The esteemed honor places Rihanna ahead of many of her peers within the music industry. Madonna came second behind Rihanna, who was reported to be worth $570 million, while Celine Dion ($450 million), Beyoncé ($400 million), and Taylor Swift ($360 million) round out the top five richest women in music.