Rihanna Is Officially A Billionaire And World’s Richest Female Musician
When Robyn Fenty, known to the world as Rihanna, launched Fenty Beauty in 2017, she sought to create a cosmetics company that made “women everywhere feel included.”
Today, the beauty line has helped her enter one of the world’s most exclusive ranks: Billionaire.
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.
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.
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 color—and are modeled in its advertising by an equally diverse group of people.
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 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.
Rihanna is a Barbadian singer, actress, fashion designer, and businesswoman. Born in Saint Michael and raised in Bridgetown, Barbados, Rihanna was discovered by American record producer Evan Rogers who invited her to the United States to record demo tapes.
In 2017 she founded the fashion house Fenty as its artistic director, and became the first black woman to head a luxury brand for LVMH (Moët Hennessy Louis Vuitton) group.