Rihanna has officially achieved billionaire status, according to Forbes. Image via Twitter @raptvcom
Rihanna has become the richest female musician on the planet…but it’s not her music that’s made her so wealthy. Have a look.
Rihanna has officially achieved billionaire status, according to Forbes. Image via Twitter @raptvcom
Musician and beauty industry mogul Rihanna is officially a billionaire, according to Forbes. The founder of Fenty Beauty is now the richest female musician and the second richest female entertainer behind Oprah Winfrey.
Forbes estimates that Rihanna is now worth $1.7 billion (about R24.4 billion), making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.
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A year after her last album, ANTI, Rihanna launched her cosmetics brand Fenty in 2017. The singer said she wanted to create a brand that’s inclusive for all women and to cater for all skin tones. The Fenty empire made its way to lingerie with Savage X Fenty and the fashion world with a Fenty fashion house under luxury goods company LVMH.
Forbes made it clear that it’s not music that’s propelled Rihanna to her billionaire status; it’s mainly coming from the Fenty brand.
The bulk of her fortune comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50% (LVMH owns the other half). Much of the rest lies in her stake in her lingerie company, Savage X Fenty, worth an estimated $270 million (about R3.9 billion), and her earnings from her career as a chart-topping musician and actress, says the Forbes article.
Rihanna trended on Twitter as soon as the Forbes article, with fans and entertainment pages congratulating the Barbados-born star on her financial success.