Rihanna billionaire

Rihanna has officially achieved billionaire status, according to Forbes. Image via Twitter @raptvcom

It’s official: Music and fashion mogul Rihanna achieves billionaire status

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 billionaire

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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RIHANNA AND HER FENTY FORTUNE

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.

SOCIAL MEDIA REACTS TO RIHANNA’S BILLIONAIRE STATUS

Rihanna trended on Twitter as soon as the Forbes article, with fans and entertainment pages congratulating the Barbados-born star on her financial success.