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What female just became a billionaire?

Rihanna Despite Rihanna getting her start in music, the majority of her money comes from her brands Fenty Beauty, Fenty Skin and Savage X Fenty.

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Rihanna has become the youngest self-made female billionaire after hitting the $1.4 billion net worth mark. Rihanna, 34, appeared at number 21 on Forbes' annual self-made women list. The outlet estimated her net worth comes mostly from her music and cosmetics ventures. Rihanna's riches also make her the wealthiest female musician in the world, Forbes previously reported. Kim Kardashian, 41, would be the second-youngest billionaire on the list, landing at spot 18 with $1.8 billion. Rihanna has become the youngest self-made female billionaire, according to Forbes. (Tim P. Whitby / Getty Images)

WHAT IS RIHANNA'S NET WORTH?

Despite Rihanna getting her start in music, the majority of her money comes from her brands Fenty Beauty, Fenty Skin and Savage X Fenty. Rihanna owns 50% of Fenty Beauty , which reportedly brought in $550 million in 2020. She also owns a 30% stake in her lingerie brand Savage X Fenty. Even while being the youngest self-made billionaire, the "Ponde Replay" singer doesn't seem to plan on taking a break anytime soon. "I never thought I’d make this much money, so a number is not going to stop me from working," Rihanna told the New York Times in 2019. "The money means that I can take care of my family," she continued. "The money means that I can facilitate the businesses that I want to. I can create jobs for other people."

LINK: Get updates and more on this story at foxbusiness.com.

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Instagram brought in $20 billion in ad revenue last year, more than a quarter of Facebook's earnings.

Instagram isn’t the biggest moneymaker for Facebook, but it certainly plays a major role in generating revenue for the social media company. Bloomberg reports today that the app brought in $20 billion in advertising revenue last year, which accounts for more than a quarter of Facebook’s overall 2019 revenue. Ads show up on Instagram in between Stories, within the feed, and on the Explore tab. The Instagram team has increasingly figured out how to wedge ads between users’ content. This sales figure is particularly interesting in light of Google’s admission yesterday that YouTube generated $15 billion in ad revenue last year, or about 10 percent of Google’s overall revenue. Unlike YouTube, Instagram doesn’t share any of its ad revenue with creators. The Verge previously reported, however, that Instagram does pay certain creators for their IGTV content, although in that case, the company pays for creators’ equipment and shoots rather than sharing ad profit. These costs typically didn’t reach even the five-figure range, Instagram said. YouTube, on the other hand, shares ad revenue with creators, and Alphabet CFO Ruth Porat told investors yesterday that creator costs go under YouTube’s “content acquisition” costs, which run around $8.5 billion.

Instagram ads are big business

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