In 2022, the prestigious list of global billionaires (in US currency) welcomed two Caribbean natives – Jamaican investor Michael Lee-Chin and Bajan singer Rihanna. These two remarkable individuals, alongside other notable billionaires such as Oprah Winfrey, Jay-Z, Tyler Perry, and Lebron James, constitute a limited pool of billionaires of African descent.
Michael Lee-Chin is a highly respected businessman in Jamaica, known for his exceptional enterprise skills. He currently serves as the chairman of National Commercial Bank (NCB), a regional banking conglomerate, and heads Portland Holdings Inc., a private investment company located in Ontario, Canada, where he resides. His estimated net worth is around 1.4 billion US dollars. Mr. Lee-Chin was born to Jamaican-Chinese parents in 1951.
Barbadian songstress Rihanna, also known as Robyn Rihanna Fenty, has been making hit music for almost two decades. The multiple-time Grammy winner is also an occasional actress, businesswoman, and now a mother who has excelled in every venture she has pursued.
With over 250 million records sold, she is the second highest-selling female artist of all time, ahead of contemporaries such as Taylor Swift and Beyonce, and second only to Madonna, making her one of the most successful musical acts of all time.
However, the key to her approximately 1.4 billion US dollars in wealth lies in the rapid success of her Fenty Beauty brand. The makeup brand’s focus on inclusivity, catering to every skin tone and hue, and innovative marketing strategy of targeting influencers of all sizes, not just the ones with millions of followers, has been instrumental in its success. In its first month alone, the makeup brand brought in a staggering $72 million, surpassing established players in the field, such as Loreal and Kosas.
Despite her remarkable success in the entertainment industry, Rihanna’s emphasis on her business ventures, particularly Fenty Beauty, has earned her the title of a business mogul. Her recent return to the stage at the Super Bowl Halftime Show only further solidifies her status as a global icon.