Rihanna has officially entered the exclusive list of world billionaires.
The singer, actress and beauty entrepreneur is now worth $1.7 billion, according to calculated figures by Forbes. Much of Rihanna’s new fortune is hugely stored in her Fenty Beauty company, which is worth $1.4 billion, while the remainder lies in her Savage x Fenty lingerie line estimated at $270 million as well as earnings from her legendary music career and acting roles in Hollywood.
The new recognition makes Rihanna the wealthiest female artist and second only to Oprah Winfrey as the world’s richest female entertainer.
Upon launching her beauty empire Fenty Beauty in partnership with luxury goods company LVMH in 2017, Rihanna rolled out a total of $550 million in annual revenue within its first year of release.
The Fenty line established forty different foundation shades and marked a new era of inclusivity in the traditional cosmetic industry. Her products appealed to customers with deep skin tones as well as interested clients within the albino community.
For her lingerie brand Savage x Fenty, the pop star is confirmed to have made a raise of $115 million in funding at a $1 billion valuation in February this year. Big gun investor company Marcy Venture Partners and private equity firm L. Catterton both associate with the brand as shareholders. Rihanna has a 30% ownership stake within the company, which she established in 2018 with TechStyle Fashion Group.