In recent years, pop superstar Rihanna has put her music career in the backseat to focus on building her business empire. And this decision has paid off for the “Diamonds” singer as she is now officially a billionaire and the richest female musician.
According to Forbes, Rihanna, real name Robyn Fenty, has an estimated worth of $1.7 billion. This evaluation also makes her the second-wealthiest woman in the entertainment world, behind only Oprah Winfrey.
The magazine reports that most of Rihanna’s wealth comes from her cosmetics brand Fenty Beauty, which is currently valued at $2.8 billion. She launched the brand in 2017 in partnership with luxury goods corporation LVMH and has 50 percent ownership in it.
Fenty Beauty was an immediate hit among consumers thanks to its inclusive efforts and products that cater to different skin tones and genders. It was also praised for reasonable pricing, which helped it reach more than $500 million in annual revenues in the first year. The brand has had a steady increase in sales since and is considered the most successful among those launched by celebrities.
The remaining $300 million of Rihanna’s worth comes from her music earnings and other business ventures like lingerie company Savage x Fenty.
Rihanna released her most recent album Anti back in 2016. She announced a new album, described as a reggae project, in 2018, but the record was never released and is currently postponed indefinitely. Her most recent music work was a feature on PartyNextDoor’s track “Believe It.”
