At the age of 21, Sofia Richie has already amassed an $8 million net worth thanks to her booming modeling career and plenty of endorsement deals over the years, which has previously seen her partner with Madonna’s Material Girl clothing line.
And with over 6 million followers on Instagram, Richie also makes plenty of money from posting sponsored ads on her platform, where she’s estimated to earn anywhere between $k-$30k-50k. Needless to say, Richie has multiple sources of income that have helped push her net worth to a whopping $8 million.
She recently announced that she plans on stepping away from modeling to pursue a career in acting, and though she hasn’t landed any roles yet, stepping into the world of filmmaking could see Richie’s fortune skyrocket. Here’s how the brunette, who recently split with Scott Disick, is adding to her current net worth.
Sofia Richie’s Earnings
Sofia’s modeling career took off after she landed the cover of Teen Vogue in 2014 when she was just 14, before signing her first modeling deal with Madonna’s Material Girl clothing label the following year.
“I am a Madonna obsesser since I was 5, so it’s insane that this is happening,” the then-teenager told People while promoting the collection. “My parents are like ‘Oh my God, Madonna! She chose you!’ I was like, ‘Yeah, thanks, guys.’”
It would be the start of an exhilarating career path for Richie, who would land the cover of many other magazines in the years to come, including Galore, Elle and Vanity Fair, which also gave off strong signs that the 21-year-old was destined for stardom.
In the past, Richie has also partnered with major fashion companies such as Chanel, Michael Kors and Tommy Hilfiger, whose Spring 2018 campaign she fronted with Bella and Gigi Hadid’s brother, Anwar Hadid.
And while her schedule was quickly filled with photoshoots and events at the most prestigious fashion events, Richie was still making most of her money from social media.
In 2018, Daily Mail reported that Lionel Richie’s daughter earned an eye-watering $100,000 to post an advertisement for Uggs. Her usual fee for sponsored content is said to be anywhere between $30k-$50k, but that generally depends on the company and any specifications they might have before the ad goes live.
In a recent interview with Cosmopolitan, Richie appeared to hint that she was stepping away from modeling because she felt the industry was oversaturated with influencers who were practically all doing the same thing.
“A lot of people just become models because they’re influencers. We would all get the same jobs, be in the same space, and be labeled the same thing, and I hated it."
The socialite told Entertainment Tonight that she’s placing a lot of her attention on her next career move, which is to break into Hollywood as a credible actress - without the help of her famous father - and she’s already been reading scripts for potential roles.
“I want to get into acting,” Richie said while explaining why she didn’t want to return to reality TV after making several appearances on Keeping Up With the Kardashians and her ex Scott Disick’s show, Flip It Like Disick.
“I feel like, for a while, I kind of held back on things because I was afraid of failure, but 2020 is [the year of] no fear. I’m gonna be doing acting stuff really soon.”
“It’s always been my thing, kinda growing up, I kind of felt like I was stuck in everyone’s shadow. But I’m very different from both my sister and my dad, so I feel like I’ve kinda navigated into my lane, and it’s been great for me.”
In February 2020, Richie posted an Instagram photo of herself holding what appeared to be a script in her hand, possibly hinting that she may have already secured herself a role.
“One of those days,” she captioned the pic.
While acting is now at the forefront of her interests as far as her career is concerned, Richie also sees herself launching her own clothing line very soon.
While she hasn’t shared too many details about her upcoming plans with her label, she did reference Mary-Kate and Ashley Olsen’s success in fashion and hopes to establish a brand similar to theirs.
“It would be like taking a street twist to The Row,” she told W magazine.
For the time being, it seems Richie will continue to make most of her earnings from social media now that she’s stepped away from the modelling world, but in the midst of taking acting classes and reading scripts, she still has a wide interest for all things concerning fashion.