The 33-year old Barbados-born singer Rihanna is officially a billionaire
Rihanna, the popstar-turned-beauty and fashion magnate, has officially become a billionaire, according to Forbes. Four years after founding her successful beauty business, Fenty Beauty, her net worth has risen to $1.7 billion.
The value of her Fenty Beauty cosmetics firm is estimated to be around $1.4 billion, with the rest of her fortune coming largely from her lingerie brand, Savage x Fenty, worth an estimated $270 million, and her revenues from music and acting.
Rihanna’s beauty line
Rihanna’s beauty line, of which luxury goods company LVMH owns half, is famous for offering a wide spectrum of 50 skin tones, including dark hues for women of color, which were uncommon when it first launched in 2017. As a result, it became a market leader in inclusivity in the industry. This move led to the so-called “Fenty Effect,” where competing firms expanded their shade ranges for make-up products.
In its first year, the line brought in moreover $550 million in revenue, according to LVMH.
The Barbados-born singer, whose birth name is Robyn Fenty, in 2005, published her first studio album. She’s gone on to create seven more albums and won nine Grammys since then. She is well-known on Instagram, where she has a following of 103 million people.
The 33-year-old has sold more than 250 million records. As a result, she is the world’s wealthiest female musician, second only to Oprah Winfrey as the richest female entertainer.