Forbes released its list of America’s richest self-made women on this week, and all your faves are on it.
Rihanna, Beyonce and Taylor Swift are among the top entertainers who made it onto the list of America’s top 100 highest-earning women.
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Forbes reported that the rebound in the stock market helped bolster the women, who are cumulatively worth $124 billion, up nearly 12% from a year ago.
Oprah Winfrey, 69, is the highest earning woman on the list of celebrities at 13, with a net worth of $2.5 billion. Her self-made score, which Forbes calculated by assessing the women’s background and the adversity each has overcome, is a 10. Forbes classifies this as someone “who not only grew up poor but also overcame significant obstacles.” Winfrey was born into poverty in rural Mississippi and survived sexual abuse.
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According to Forbes, the OWN network creator received a $2 billion return from reinvesting her profits from “The Oprah Winfrey Show” and profits from her films “The Color Purple,” “Beloved” and “Selma” (which her Harpo Productions co-produced).
Rihanna, 35, takes the top spot for a musician. Her entrepreneurial Fenty Beauty is co-owned with Louis Vuitton Moët Hennessy (LVMH). The “bulk of her fortune” comes from the beauty brand, with sales that doubled in 2022, according to Forbes. With her stunningSuper Bowl halftime performance, the “Work” singer holds the record for the most-watched halftime show in history. At No. 20 on the list, her net worth is $1.5 billion.
Beyoncé and Taylor Swift also cracked the top 50 on the list.
Beyoncé, 41, who is taking over the summer with herRenaissance Tour,lands at No. 48, with a self-made score of 8. Forbes attributes Queen Bey’s estimated $540 million net worth to her musical success. Earlier this year, Beyoncé broke the record for the most Grammy wins ever, with 32 statuettes.
Taylor Swift, 33, is at No. 34 with a net worth of $740 million. With her latest album, “Midnights,” Swift became the first artist in history to claim the top 10 spots on the Billboard Hot 100 song list. Ticket sales for her2023 Eras Tourbecame so contentious thatthey drove Congressto question Ticketmaster’s grip on concert sales.
For the second year,Kim Kardashian, 42, surpassed her youngest sister, Kylie Jenner, by clinching the No. 21 spot. Forbes attributes the reality star’s 10-figure wealth to her stakes in her popularshapewear company, Skims. Each of the sisters has a self-made score of 7, which dipped because the magazine notes that they “got a head start from wealthy parents and moneyed background.”
Jenner, the youngest on the list at 25, caused an uproar when Forbes declared she was theyoungest self-made billionairein 2019. The beauty mogul ended up losingthe titlethe following year because “documents show the business was much smaller than the family claimed for years.” The mother of two retains a net worth of $680 million, putting her at No. 38.
Shonda Rhimesis among the eight newcomers to the list at No. 96 with a net worth of $250 million. In 2017, the Shondaland founder left traditional TV, where she created hits such as “How to Get Away With Murder,” “Scandal” and the Emmy-nominated “Grey’s Anatomy.” She jumped into the streaming business and created created bingeable hits such as “Bridgerton,” “Queen Charlotte: A Bridgerton Story” and “Inventing Anna.”
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Other notable women on the list:
Tory Burch (No. 24, $1 billion)
Madonna, (No. 45, $580 million)
Donna Karan (No. 52, $520 million)
Celine Dion (No. 56, $480 million)
Judy Sheindlin, known as Judge Judy, ties with Dion (No. 56, $480 million)
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Dolly Parton (No. 59, $440 million)
Production company founder Reese Witherspoon ties with Parton (No. 59, $440 million)
Barbra Streisand (No. 61, $430 million)
Danielle Steel (No. 62, $420 million)
Nora Roberts (No. 64, $410 million)
Ellen DeGeneres, (No. 73, $380 million)
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Tennis star Serena Williams (No. 89, $290 million)
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©2023 Los Angeles Times. Visitlatimes.com. Distributed byTribune Content Agency, LLC.
To begin, this article delves into Forbes' rankings of America's richest self-made women, showcasing a diverse range of talents and industries represented. Now, breaking down the concepts:
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Forbes' Richest Self-Made Women List: This is an annual compilation by Forbes that evaluates and ranks women based on their net worth, attributing success to their self-made ventures, talents, and entrepreneurial endeavors.
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Net Worth Calculation: Net worth signifies the value of an individual's assets minus liabilities. It's a crucial metric in determining one's financial standing and success in wealth accumulation.
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Self-Made Score: Forbes assigns a self-made score to each individual, assessing their background, obstacles overcome, and the journey to success. This score measures the level of adversity faced in achieving wealth and success.
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Influence of Stock Market: The article highlights the impact of the stock market's rebound on these women's wealth. Economic factors such as market fluctuations can significantly affect the net worth of individuals with substantial investments.
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Diversified Revenue Streams: Various income sources contribute to these women's wealth, such as entertainment (music, movies, TV shows), entrepreneurial ventures (beauty brands, clothing lines), and investments in companies or industries.
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Individual Achievements: Each woman on the list has noteworthy accomplishments, from Grammy wins (Beyoncé) to record-breaking album sales (Taylor Swift) and successful business ventures (Kim Kardashian's Skims, Rihanna's Fenty Beauty).
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Challenges Overcome: The article mentions personal struggles faced by some, such as Oprah Winfrey's impoverished upbringing and survival of sexual abuse. This showcases resilience and determination in overcoming adversity.
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Reinvesting Profits: Oprah's case exemplifies the strategy of reinvesting profits from successful ventures, leading to exponential growth in wealth over time.
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Controversies and Public Perception: Instances like Kylie Jenner's "youngest self-made billionaire" title, which later faced scrutiny, reflect how public perception and controversies can impact individuals' standings on such lists.
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Transition to New Industries: Shonda Rhimes' shift from traditional TV to streaming platforms demonstrates adaptation to evolving industries, contributing to continued success and wealth accumulation.
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Influential Figures Across Various Industries: The list encompasses influential women from diverse sectors like fashion (Tory Burch, Donna Karan), music (Madonna, Celine Dion), entertainment (Ellen DeGeneres, Barbra Streisand), literature (Danielle Steel, Nora Roberts), and sports (Serena Williams).
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Distribution and Attribution of Wealth: The rankings reflect the disparity in wealth distribution, showcasing the enormous financial success achieved by these women.
This comprehensive breakdown covers the core elements of Forbes' list of America's richest self-made women, highlighting the diverse pathways these accomplished individuals have taken to achieve substantial wealth and success.
