Barbadian Musician Rihanna Is Officially A Billionaire! American business magazine Forbes Magazine announced that Barbadian singer, actress, fashion designer, and businesswoman Rihanna has officially hit the billionaire milestone. She is officially the richest female musician in the world. Rihanna achieved most of her wealth through her business ventures which have been successful enough to earn her the net worth of $1.7 billion according to Forbes.
“Rihanna is now worth $1.7 billion, Forbes estimates—making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer. But it’s not her music that’s made her so wealthy. The bulk of her fortune (an estimated $1.4 billion) 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.” the magazine said.
Fenty Beauty is a cosmetics brand that was launched on September 8, 2017 by Rihanna. The brand is popular for its broad inclusivity across skin tones and gender, especially its Pro Filt’R foundation. The original foundation launch included 40 shades, since expanded to 50. The inclusion of Fenty Beauty concealer includes 50 shades offering a wide variety to all skin types. The intent behind having so many shades to offer is to differentiate from other makeup companies that do not cater to a broad market. Fenty Beauty was named one of Time magazine’s best inventions of 2017.
Savage X Fenty is a lingerie line by Rihanna. Founded in 2018, The brand’s first fashion show was held at Brooklyn Navy Yard in 2019, as part of New York Fashion Week. The second show, Savage X Fenty Show Vol. 2, aired on Amazon Prime Video on October 2, 2020. Slated performers include Travis Scott, Rosalía, Miguel, Bad Bunny, Mustard, Roddy Ricch, and Ella Mai. The show featured black breast cancer survivors as part of Breast Cancer Awareness month and to benefit Clara Lionel Foundation.