Looks like Rihanna really did put in the work and has now officially joined the billionaire club.
According to Forbes, the “work” singer is now worth an estimated $1.7 billion making her the wealthiest female musician in the world, second only to Oprah Winfrey as the richest female entertainer.
Even though music made the pop star famous, it’s not the primary source of her wealth according to the publication.
The 33-year-old’s fortune — an estimated $1.4 billion stems from the value of Fenty Beauty, which the mogul owns 50%. The rest of the singer’s wealth comes from 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, Forbes magazine reported.
Rihanna – real name Robyn Fenty – launched Fenty Beauty in 2017 together with the French luxury conglomerate LVMH with a dream to create a cosmetics company that made “women everywhere [feel] included”.
In its first year, Fenty Beauty achieved sales of $550m beating out other celebrity-founded brands like Kylie Jenner’s Kylie Cosmetics, Kim Kardashian West’s KKW Beauty and Jessica Alba’s Honest Co.
“Everyone knows Rihanna as a wonderful singer, but through our partnership at Fenty Beauty, I discovered a true entrepreneur, a real CEO and a terrific leader.” said Bernard Arnault, LVMH’s chairman and chief executive, and the world’s third-richest person with an estimated $179bn fortune.