Rihanna is officially a billionaire and the wealthiest female musician in the world!
Forbes made the big announcement via a story on Wednesday (August 4) that welcomed the singer and business mogul to the billionaire club and overall highlighted her big accomplishments. While many may conclude that her financial status—estimated to be worth $1.7 billion—stemmed from her successful music career, the publication is setting the record straight.
According to the prestigious financial magazine, Rihanna gained a boatload of her wealth from her inclusive cosmetic company, Fenty Beauty, which launched in 2017.
“The bulk of her fortune (an estimated $1.4 billion) comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50%,” the publication shared.
Also responsible for her riches is her game-changing lingerie company Savage x Fenty that launched in 2019 is already worth an estimated $270 million.
ICYMI: Fenty Beauty was created in 2017 to provide beauty enthusiasts (of all walks of life) the ability to feel included by offering a collection of foundation in 50 shades, including darker shades for Black women. She has since expanded her makeup products using the same formula: inclusion.
The 50-50 joint venture with French luxury goods conglomerate LVMH has since been a success with millions shopping the pivotal collections.
Forbes estimates Fenty Beauty is worth a conservative $2.8 billion.
Congratulations, Rih! There’s no question that everything the Bajan beauty touches turns to gold. We look forward to seeing what’s next for the billionaire star.