Money Moves July 19, 2021 at 09:33 am

Rihanna has listed her $13m Beverly Hills mansion for rent, charging a whopping $80,000 per month

Abu Mubarik July 19, 2021 at 09:33 am

July 19, 2021 at 09:33 am | Money Moves

Rihanna. Photo: Chelsea Lauren/Variety/REX/Shutterstock

Rihanna is not showing any sign of slowing down in her real estate venture. In 2020, the Caribbean singer acquired a Beverly Hills mansion for $13 million and in May, she bought another home for $10 million.

Rihanna, apart from her $23 million Beverly Hills compound, owns other luxury properties, including a mansion in her native Barbados, a $6.8 million villa in the Hollywood Hills, and a high-floor flat in L.A.’s Wilshire Corridor. Her main residence, however, remains a $5.2 million condo unit at Century City’s exclusive The Century condo complex, according to The Hollywood Reporter.

Rihanna is back in the news with another money-making move. She is seeking a tenant for the five-bedroom, seven-bathroom home she bought for $13 million in 2020. According to Dirt.com, the singer has listed the property for rent and she is charging a whopping $80,000 per month. This means that she will be making nearly $1 million per year.

The listed property, Dirt.com adds, is sited on a coveted cul-de-sac in the mountains above Beverly Hills. The house was first built in the 1930s and was long owned by novelist Mary Sheldon, daughter of ‘I Dream of Jeanie’ creator Sidney Sheldon. She sold the property to investor Daniel Starr who rebuilt it to its current state before it was bought by Rihanna.

The abode has an open-air central courtyard with an al fresco terrace, pool, spa, and multiple firepits. There is also a state-of-the-art gym and a kitchen that is full of marble surfaces, two islands, and brass fixtures, according to MailOnline.

The property boasts of high-profile neighbors like Paul McCartney. Other neighbors on the same quiet street include Mariah Carey and more recently Madonna.

Rihanna was recently certified by Forbes as the richest female musician in the world. Her fortune adds up to $600 million, ahead of the likes of Madonna ($570 million), Céline Dion ($450 million), and Beyoncé ($400 million).

Following her hit song “Work” in 2016, the famous musician has evolved into a serial entrepreneur. Her source of wealth, according to Forbes, comes from music, cosmetics, and her clothing lines. Rihanna has sold more than 60 million albums and 215 million digital tracks, according to her label, Roc Nation. This places her as the second best-selling digital artist globally.

She got her music career off to a good start after she was signed by billionaire rapper Jay-Z. She became a global hit with her debut album “Pon de Replay.” In 2016, she reportedly made an estimated $22.3 million from her music as well as raking in $137 million in revenue from her “Diamond” tour.

In 2016, she partnered with French luxury goods Louis Vuitton Moet Hennessy (LVMH) run by billionaire Bernard Arnault to create a cosmetic line called Fenty Beauty, which is reportedly worth $3 billion. The cosmetic line initially sold foundation shades and later expanded to include lipstick, lip gloss, body glitter, and more.

In its first year of operation, Fenty Beauty generated more than $550 million. Forbes estimates that Rihanna has around a 15% stake in LVMH. In 2019, Rihanna became the first Black woman to create a clothing brand for LVMH called Fenty and also announced new high-end clothing, shoes, and accessories.

Also, her Savage X Fenty lingerie line has an annual revenue of about US$150 million. Additionally, she earns millions of dollars from endorsement deals from brands and companies like River Island, Mac, Armani, and Balmain. In 2014, she signed a $1 million endorsement deal to work as Puma’s creative director.

Aside from music and cosmetics, other big money-making moves for Rihanna are her real estate businesses. She buys properties and resells for a profit.

The Barbadian singer is regarded by Forbes as one of the most publicly charitable celebrities. She was named Harvard Humanitarian of the Year in 2017 for her work supporting education and health care in the Caribbean and developing countries.

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