Though an official decision hasn’t been made on when, or if, it will go public, Fashion entrepreneur and pop singer Rihanna is working with advisers on taking her lingerie company Savage X Fenty public through an initial offering that could value the company at $3 billion, it was recently reported on numerous financial platforms.
Rihanna’s company is reportedly working with banks like Goldman Sachs and Morgan Stanley to value its worth and gauge demand, though a listing could happen as soon as this year.
An initial public offering (IPO) is an highly involved process of taking a company from private to public ownership by issuing stocks to the general public, a process that legally allows the company to raise more money to grow its footprint.
Rihanna, 34, officially became a billionaire last August – making her the richest female musician in the world and second richest female entertainer after Oprah Winfrey.
The songstress has racked up $1.7 billion throughout her 19 year career – and in spite of her record sales, the majority of her fortune mostly came from her beauty and lingerie lines – Forbes reported.
It was claimed in that article that the bulk of the popstar’s money ($1.4 billion of it) comes not from her singing career, but from her 50 per cent stake in her acclaimed cosmetics line Fenty Beauty – a joint venture with French luxury goods conglomerate LVMH – which is now worth $2.8 billion in total.
Rihanna has a reported $270 million stake in her hugely successful Savage X Fenty lingerie line, that amount, combined with the profit she has made from her recording career as a chart-topping singer and actress, make up for the hitmaker’s massive wealth.
Barbados-born Rihanna was discovered in 2003 in her home country by American record producer Evan Rogers, who sent her demo to Def Jam Recordings.
Def Jam’s president Jay-Z, heard her tape and was said to have instantly fell in love with it, he invited her to come in and perform and instantly fell in love with it, and the rest is history.
Over the years, Rihanna has went on to become one of the best-selling music artists of all time – having currently sold more than 250 million records worldwide for her hits like “Don’t Stop The Music”, “S.O.S”. “Umbrella”, “Unfaithful”, “Good Girl Gone Bad”, and “Pon de Replay“, and others in her discography.
