Barbadian and American music superstar Rihanna is now officially a billionaire; the wealthiest female musician in the world, according to Forbes. 
Rihanna, born Robyn Fenty in Saint Michael and raised in Bridgetown in the Caribbean Island, Barbados,
is now worth US$1.7billion, Forbes
says — making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.
is now worth US$1.7billion, Forbes
says — making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.
However, it’s not music that has made the Barbados-born American singer so wealthy. The bulk of her fortune (an estimated US$1.4 billion) comes from the value of Fenty Beauty, of which Forbes says she owns 50%.
Rihanna has also made part of her money from her stake in lingerie company, Savage x Fenty, worth an estimated UD$270 million, over and above 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," Forbes says.
"Fenty Beauty, which is a 50-50 joint venture with French luxury goods conglomerate LVMH (run by Bernard Arnault, the world’s second-richest person), launched in 2017 with the goal of inclusivity.
"Its products come in a diverse range of colors—foundation is offered in 50 shades, including harder-to-find darker shades for women of colour — and are modeled in its advertising by an equally diverse group of people.
"Fenty Beauty isn’t Rihanna’s only billion-dollar brand. In February her lingerie line Savage x Fenty raised US$115 million in funding at a US$1 billion valuation.
"The company, which launched in 2018 as a joint venture with TechStyle Fashion Group, counts blue-chip investors like Jay-Z’s Marcy Venture Partners and private equity firm L. Catterton (in which Bernard Arnault is an investor) as shareholders.
"Rihanna maintains a 30% ownership stake, Forbes estimates. The latest round of funding will reportedly be used for customer acquisition and retail expansion."
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