While the world of technology and digital transformation is proving to be a goldmine for many, we should not overlook other industries that are also boosting people to multimillionaire status. One of these industries is no other than the cosmetics and beauty sector!
The $511B worth beauty industry has helped many secure a seat on the multimillionaires table. Here are 4 beauty moguls who made it to the rich club thanks to the makeup industry:
Famous musician and actress Rihanna has now become known for more than just her work in the entertainment world, because she is making a significant impact in the beauty industry as well! According to Forbes, Rihanna just made it to the billionaire club thanks to her Fenty Beauty beauty line. With her fortune estimated at $1.7B, around $1.4B comes from Fenty Beauty, of which she owns 50%.
- Anastasia Soare
Ranked in Forbes’ Top Self-Made Women today, Anastasia Soare changed the way people do their eyebrows over the past decades. From doing the eyebrows of celebrities and influencers, Anastasia moved on to launch her own eyebrows product line, Anastasia Beverly Hills. With her sales soaring, she landed herself a rank in Forbes’ Billionaires List in 2019 with an estimated net worth of $1.2B. However, despite her great success, her sales hit a rough batch in 2019 and 2020. But knowing how Anastasia was able to fight against all odds and build herself a multimillion beauty line, her sales are expected to increase, says Fitch Rating.
- Huda Kattan
First working as a makeup artist and launching her own blog in 2010, Kattan then moved to start a beauty brand with her two sisters. Huda Beauty was first started because the beauty mogul could not find false lashes in the market. Taking advantage of this market gap has helped her build a billion dollar beauty empire that was valued at $1.2B in 2017. Kattan is also ranked in Forbes’ Top Self-Made Women with a net worth of $490M.
- Jamie Kern Lima
Founder of IT Cosmetics, Jamie Kern Lima, has an estimated net worth of $500M helping her secure a spot in Forbes’ Top Self-Made Women. In 2016, the beauty tycoon sold IT Cosmetics for $1.2B to beauty industry giant L’Oreal.
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