Barbadian singer, actress, fashion designer, and businesswoman Rihanna has been now officially declared as a billionaire. According to Forbes, her net worth is now at $1.7 billion thanks to her music, acting, and fashion and beauty brands.
On Wednesday, Forbes said that she had become “the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.”
Fortune said that “the bulk of Rihanna’s fortune comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50%. Much of the rest lies in her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress. While Barbados-born Rihanna isn’t the only celebrity to capitalize on her social media presence —she has 101 million followers on Instagram and 102.5 million on Twitter—to build a beauty brand, she is the most successful beauty entrepreneur to do so. Tap the link in bio for more on the new billionaire.”
Rihanna, 33, launched the beauty brand, of which she owns 50%, with the French luxury conglomerate LVMH in 2017. She is the founder of the nonprofit organization Clara Lionel Foundation, cosmetics brand Fenty Beauty, and fashion house Fenty under LVMH.
The ‘Love The Way You Lie’ singer is not the first celebrity to make a fortune from cosmetics. Kylie Jenner, the youngest member of the Kardashian-Jenner family, became the world’s youngest billionaire in 2019 at the age of 21.
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