Rihanna is officially a billionaire, according to Forbes.
The publication reported on Wednesday that the Grammy-winning artist and beauty mogul — founder of high-fashion label Fenty and inclusive makeup company Fenty Beauty — is worth an estimated $1.7 billion USD, making her the wealthiest female musician in the world and the second-wealthiest female entertainer in the world behind Oprah Winfrey.
A majority of her riches — approximately $1.4 billion USD — derives exclusively from Fenty Beauty, of which Rihanna owns a 50 percent stake. The remaining wealth mostly comes from her top-shelf music and acting career as well as her share in her lingerie company, Savage x Fenty, which is worth an estimated $270 million USD.
Rihanna’s Fenty Beauty found groundbreaking success not only for its celebrity ownership, but also its commitment to an inclusive product line, with foundation available in 50 shades, including difficult-to-find darker tones for women of color. A 50-50 joint venture with French luxury goods conglomerate LVMH, the company, which launched in 2017, reported more than $550 million USD in annual revenue in its first year, according to the outlet.
Amid the booming success of her several brand extensions, Rihanna has not put out new music since her last album, Anti, debuted in 2016, and her plans for future releases still remain a mystery.
“She is creating a brand outside of herself,” Shannon Coyne, co-founder of consumer products consultancy Bluestock Advisors, told Forbes. “It’s not just about Rihanna.”
Meanwhile, Tyler, the Creator’s Igor has gone platinum.
