When Rihanna was announced as the wealthiest female musician in the world in 2019, with a fortune of $600 million, it was a surprise to many. Music fans could not believe that she was richer than Madonna ($570 million), Celine Dion ($450 million), and Beyoncé ($400 million). According to her record label, she has sold more than 60 million albums and 215 million digital tracks. But a huge part of her valuation comes from outside her music. Famous first as a singer, Robyn “Rihanna” Fenty, 32, has since evolved into a style icon and makeup entrepreneur that MBA students will soon start studying in their thesis.

Also, when Kanye West was recently declared a billionaire by Forbes magazine with the revelation that the bulk of his wealth comes from sources beyond his music, I started seeing a pattern that led me to the role model of Rihanna and Kanye West – Jay Z, hip-hop’s first billionaire. Jay-Z’s fortune transcends music with an expansive kingdom encompassing spirits (his Armand de Brignac champagne and D’Ussé cognac), art (including work by Jean-Michel Basquiat), real estate (homes in Los Angeles, the Hamptons, Tribeca) and stakes in companies from Uber to Robinhood.

A fast question is, who is your role model, and how has your choice affected you? The term role model is credited to sociologist Robert K. Merton, who coined the phrase during his career. He concluded that individuals compare themselves with reference groups of people who occupy the social roles they aspire to. This comparison can be life-changing. Someone whose role model is Michael Jackson might become a successful musician but might also have similar identity issues that plagued him. Or someone whose role model is Tupac might end up living a violent lifestyle that leads to an early death. So, it is no wonder that Kanye West and Rihanna are following the path of their role model Shawn “Jay-Z” Carter in becoming successful recording artists and billionaires with diversified income.

Kindly share ~ Ata Ukuta – Editor, www.towncryyers.com