Welcome to the billionaire club, Rihanna! Singer 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.
At the time of its launch, Rihanna called Fenty Beauty her passion project in a speech saying, “I don’t think (anyone) in this building is as excited as I am today.”
Forbes notes that an estimated $1.4 billion of Rihanna’s wealth comes from her Fenty Beauty cosmetics line, while $270 million coming from her lingerie brand Savage X Fenty.
The outlet reports she owns 50% of the business while she also has a stake in her lingerie company, Savage X Fenty, which has an estimated worth of $270 million.
The singer splits Fenty Beauty with LVMH, a luxury goods company in France that is run by Bernard Arnault, the world’s second-richest person, according to the report.