Forbes released its annual list of successful entrepreneurs, with Rihanna in the top spot for the third year in a row. Thus, according to the publication, Rihanna has overtaken Kylie Jenner as the youngest female billionaire self made. The 34-year-old singer and businesswoman won the title by qualifying with a net worth of $1.4 billion.
The new mom ranked 21st on the overall list and is the only billionaire on the list under the age of 40. Rihanna’s multiple retail brands were her main source of income aside from her successful singing career. In this way, she beat Kylie Jenner, who previously held the title.
To what does Rihanna owe her great fortune?
A portion of the singer’s fortune is attributed to her Grammy-winning career with hits like “Umbrella” with Jay-Z and “Run This Town,” another collaboration with the rapper and Kanye West. However, most of her earnings have accrued from her numerous retail brands: Fenty Beauty, Fenty Skin, and Savage X Fenty.
Meanwhile, 24-year-old Kylie used to hold the crown due to her multiple business ventures and impressive bank account. The mother of two founded the makeup company Kylie Cosmetics, she started Kylie Baby and Kylie Skin and has many other collaborations under her belt.
In 2019, the makeup mogul was declared the youngest self-made billionaire, unseating Facebook founder Mark Zuckerberg, who held the title at 23. Since then, Kylie’s billionaire status has been erased, as a year later her net worth was documented to be just $900 million. Forbes also reported that the reality star’s paychecks weren’t as high as she claimed.
The publication accused the Hulu personality and her mother, Kris Jenner, 66, of lying about Kylie’s net worth and earnings. “Kylie’s business is significantly smaller and less profitable than the family has spent years leading the cosmetics industry and the media, including Forbes, to believe.”the magazine said in its report.
What were Kylie Jenner and her mother accused of?
The mother-daughter duo were accused of submitting falsified draft tax returns with inflated numbers to the magazine to improve Kylie’s chances of appearing on the cover. “While we can’t prove those documents were fake (although it’s likely), it’s clear that Kylie’s entourage has been lying.Forbes said.
At the time, the Keeping Up With the Kardashians member was unfazed by the claims in a series of tweets. «?What am I waking up to? I thought this was a reputable site…“, wrote. «All I see is a series of inaccurate statements and unproven assumptions lol. I never asked for any title or tried to lie to get there EVER. Spot”.
Representatives for Kylie and Kris later sent a letter to the publication, denying the allegations. The letter said: “The allegations that the Jenners and/or their accountants falsified tax returns and then lied about their 2016 income for the past four years are absolutely false.”
‘Sibling Rivalry’
Sources close to the famous family told The Post that their fame is motivated by the “sibling rivalry» and strive to surpass the fortunes of others. “All the Kardashian girls are screaming for attention. Among the Kardashian-Jenner family, there is always an argument about which of the girls would be the most successful and who is more talented.said the source.
Kylie’s half-sister Kim Kardashian, 41, graced the cover of Forbes in 2016, and was said to have fueled the reality star’s desire to perform better. Kim, however, has come out this year with a whopping net worth of $1.8 million, while Kylie is reported to earn “only” $600 million.
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