Rihanna is officially a billionaire according to Forbes. The 33-year-old singer and businesswoman has become the riche
st global female musician. Forbes reported that her fortune is approximately $1.7 billion. The Umbrella singer is the second wealthiest billionaire who is an woman entertainer . She lags behind Oprah by a billion who has a whopping fortune of $2.7 billion.
According to Forbes, a major portion of the singer’s billions are from Fenty Beauty, approximately $1.4 billion and $270 million is from her lingerie line Savage x Fenty. The rest of her billion-dollar earnings are from the You Da One singer’s musical and acting revenues.
Barbados born Robyn Fenty, more popularly known as Rihanna, began the Fenty line in 2017 along with LVMH luxury goods maker, whose founder Bernard Arnault is generally among the top three billionaires in the world, according to Forbes. The cosmetics company was created as a 50-50 joint venture to make “women everywhere (feel) included.”
The Fenty line, available on Sephora stores owned by LVMH as well as online, was successful right from the beginning and its first-year revenue crossed $550 million. According to Forbes it is now worth at least $2.8 billion. The Fenty makeup line reached out to an extremely wide range of customers as its shades and colors catered to the different skin tones that are present in different women.
In 2018 Rihanna launched a lingerie line Fenty x Savage as a joint venture with a blue-chip investors group called TechStyle Fashion Group. Its high-profile investors include Jay-Z and Bernard Arnault’s partnership firms Marcy Venture Partners and L. Catterton. Rihanna owns 30 percent of the lingerie company. The rest of Rihanna’s billion-dollar fortune comes from her 16-year long musical and acting career.
The singer has roughly 101 million followers on Instagram where she promotes her beauty and lingerie lines. She is also an active promoter of her brands on Twitter with about 102.5 million followers.
The singer has also become a fashion and beauty celebrity. Some of her fans complain that although they admire her business acumen, they miss her music as the singer has not released a new album since 2016, when she dropped ANTI. Since her debut in 2005, Rihanna has sold over 250 million records.