Rihanna has officially been declared a billionaire by Forbes.
Forbes estimates that the 33-year-old singer and businesswoman is now the wealthiest female musician in the world with a fortune worth $1.7 billion. That makes her second only to Oprah Winfrey for the world’s richest female entertainer.
While music is what made her famous, Fenty Beauty is what made her rich, the magazine says. She owns 50 percent of the company, which expanded to skincare in 2020.
Born, Robyn Fenty, the singer launched Fenty Beauty in 2017 in partnership with luxury goods conglomerate LVMH. The brand’s launch focused on inclusivity with a then-unprecedented 40 shades of foundation, which prompted the “Fenty Effect” in which other brands expanded their shade ranges for complexion products.
Forbes estimates $1.4 billion of her worth comes from Fenty Beauty and $270 million coming from her lingerie brand Savage X Fenty — the business magazine said the rest of the $1.7 billion is sprinkled in from the star’s music and acting career.
Earlier this year, Rihanna and LVMH “jointly made the decision to put on hold the ready-to-wear activity, based in Europe, pending better conditions,” according to an emailed statement from LVMH at the time.
Members of Rihanna’s “Navy” fanbase excitedly shared news of the “Umbrella” singer’s financial status.
“i stan a billionaire,” @anthnybuford wrote.
“THE REAL SELF-MADE!!! My queen @rihanna FORVER,” @hvymetalgirl wrote.
“So happy for Rihanna. All things are possible. It’s really wonderful to see women of colour conquer and rise. Setting the bar for all women,” @alegrafitzgera1 wrote.
Rihanna’s Fenty Beauty company is further expanding by entering the fragrance industry. The brand announced last week it would be launching Fenty Parfum, a unisex scent inspired and created by Riri herself, in August.
With Fenty Beauty and Savage X Fenty keeping her so busy, fans are now left wondering when or if she will ever release another studio album. Since releasing her 2016 album “Anti,” the singer has only appeared as a feature on songs with Drake, DJ Khaled, and PartyNextDoor.