Rihanna Is Now a Billionaire, Says Forbes

Rihanna Is Now a Billionaire, Says Forbes

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Rihanna Is Now a Billionaire, Says Forbes

The achievement makes the singer and entrepreneur the richest female musician in the world.

The achievement makes the singer and entrepreneur the richest female musician in the world.

Text: Luana Harumi

B---h better have my money: Rihanna is now officially a billionaire, Forbes reports. The publication estimates the singer is now worth a whopping $1.7 billion, making her the wealthiest female musician in the world and the second richest female entertainer, following Oprah Winfrey. 

The impressive mark was achieved mainly through Fenty Beauty, which brought in about $1.4 billion for the artist. According to Forbes, Rihanna owns 50% of the joint venture with luxury conglomerate LVMH. Part of the rest comes from her stake in her lingerie label, Savage X Fenty (an estimated $270 million), plus, of course, her earnings from her music and acting career. 

Fenty Beauty successfully launched in 2017 aiming to provide more diversity to beauty consumers – its foundation, for example, is offered in 50 shades, with a wide array of darker tones. According to LVMH, after its first full calendar year, the brand was bringing in more than $550 million in annual revenues. Fenty Beauty is now worth at least $2.8 billion, according to a Forbes estimate. Last year, Rihanna also launched the skincare line Fenty Skin

Savage X Fenty is also having a great moment. In February, the lingerie line raised $115 million in funding at a $1 billion valuation and Forbes estimates Rihanna has a 30% ownership stake. In October, the brand debuted the second edition of the acclaimed Savage X Fenty show on Amazon. 

However, not every Rihanna-led brand experienced the same success. Earlier this year, LVMH announced they would shut down the ready-to-wear Fenty line, which launched in 2019. Fenty was the first LVMH label headed by a Black woman and the first of the group’s brands to be built from scratch since 1987. 

With so much work as a fashion and beauty entrepreneur, it doesn’t seem like Rihanna plans on dropping new music anytime soon – but with such remarkable achievements keeping her busy, fans can wait a bit more. 

Credits: Cover photo by Steven Klein for V95.

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