Music artist and entrepreneur Rihanna is now officially a billionaire, per Forbes, which makes now her the wealthiest female musician in the world and the second richest female entertainer in the world next to Oprah Winfrey.
Rihanna‘s estimated net worth is now $1.7 billion and she can thank her Fenty Beauty brand for her new billionaire status. Launched in 2017, the Fenty Beauty brand entered the beauty industry as the ultimate game changer, introducing the world to a truly diverse beauty brand with a range of foundation shades for nearly every skin tone including those of which were hard to find. Rihanna now has a 50% stake in the Fenty Beauty empire as a part of a joint venture with LVMH, the world’s largest luxury goods conglomerate. According to Forbes, a majority of her billion-dollar net worth is accounted to Fenty Beauty, which is now worth an estimated $2.8 billion.
The billionaire’s remaining net worth comes from her lingerie brand Savage X Fenty, an estimated $270 million, plus her musical and acting career.
While Rihanna was forced to temporarily shut down her luxury fashion brand Fenty in February due to obstacles presented by the worldwide pandemic, she was allowed to shift her focus to her other business ventures and came out on top as a billionaire and what Forbes calls “the most successful beauty entrepreneur”.
Congratulations to Rihanna!