Rihanna Is Officially A Billionaire; Named Richest Female Musician
Robyn Fenty, who the world know as Rihanna, is officially a billionaire –making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.
According to Forbes, the Grammy award-winning artist is now worth $1.7 billion, thanks to her successful beauty company Fenty.
The bulk of her fortune (an estimated $1.4 billion) comes from the value of Fenty Beauty, of which she owns 50%. The other 50% is owned by French luxury goods conglomerate LVMH (run by Bernard Arnault, the world’s second-richest person).
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The rest of her fortune lies in her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress.
When Rihanna started Fenty back in 2017, she sought to create a cosmetics company that made “women everywhere (feel) included.”
“A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark,” says Shannon Coyne, cofounder of consumer products consultancy Bluestock Advisors. “We all know that’s not reality. She was one of the first brands that came out and said, ‘I want to speak to all of those different people.’”
Fenty Beauty, along with Savage x Fenty (Rihanna’s lingerie line) is worth a conservative $2.8 billion and is still growing.
The only complaint some fans may have about her career as a fashion and beauty mogul is that it keeps her busy. The singer, who used to release an album almost every year, hasn’t released a new album since 2016’s Anti.
One thing is for certain…whether it’s music or fashion, Rih Rih dominates in every space she enters.
