Rihanna has reached billionaire status.
The pop icon is officially the richest female musician in the world, according to Forbes. The 33-year-old singer is now worth an estimated $1.7 billion and is second only to Oprah Winfrey as the richest female entertainer.
The majority of Rihanna’s fortune comes from her lucrative Fenty Beauty empire. The cosmetics brand, which was launched in 2017, is valued at $1.4 billion. The rest is comprised of her lingerie company, Savage x Fenty, worth an estimated $270 million, and earnings from her music and acting career.
Fenty Beauty is a 50-50 joint venture with LVMH Moët Hennessy Louis Vuitton. In its first full calendar year in 2018, the line was earning more than $550 million in annual revenues, surpassing other celebrity beauty brands including Kylie Jenner’s Kylie Cosmetics and Kim Kardashian West’s KKW Beauty.
Fenty Beauty is worth at least $2.8 billion and the company continues to show growth with the 2020 launch of Fenty Skin and Fenty’s first fragrance, Fenty Parfum, which arrives later this year.
Rihanna joins fellow billionaires including Kanye West, who is worth $1.3 billion, according to a 2020 Forbes report. In 2019, JAY-Z was named hip-hop’s first billionaire.
Article written by Rap-Up #RapUp
