Rihanna, the famous singer, actress, and businesswoman has officially become a billionaire.
According to Forbes, the stunning singer is now worth a colossal $1.7 billion, making her the richest female musician in the world. However, most of her income comes not from her music career, but from her other ventures.
In 2017, Rihanna, whose real name is Robyn Fenty, released her beauty brand Fenty Beauty with the mission of being more inclusive of all women. So much so that it was been a huge success and grown into a global cosmetics empire.
Forbes reported that the bulk of her fortune, which amasses to around $1.4 billion comes from Fenty, of which she owns fifty percent. Her spin-off lingerie company Savage x Fenty and her colorful music career make up for the other millions.
The story follows the same storyline seen with Kim Kardashian and Kylie Jenner, who both reached billionaire status thanks to their famous cosmetics and fashion lines.
Rihanna surprisingly has flown past both of the Kardashian-Jenner clan, as according to Forbes she is the world's second-richest female entertainer, with talk show host and American sweetheart Oprah.
The Barbados-born superstar is one of the most well-known celebrities on the planet. She currently has over 101 million followers on Instagram and 102.5 million on Twitter. Fenty Beauty, which is a fifty-fifty joint venture with French luxury goods conglomerate LVMH (run by Bernard Arnault, the world's second-richest person) has a pristine focus on inclusivity.
Its products promote diversity, with over fifty foundation shades, including darker shades for women of color which are usually difficult to find. The brand is equally advertised using a diverse range of people, races, ages, shapes, and sizes.
By 2018, the Fenty Beauty line was bringing in more than $550 million in annual revenues, according to LVMH, beating out Kylie Jenner's Kylie Cosmetics and Kim Kardashian West's KKW Beauty.
Her spin-off lingerie brand, Savage x Fenty, also is thriving raising $115million according to Forbes. She shares the brand with the likes of blue-chip investors like Jay-Z's Marcy Venture Partners and private equity firm L. Catterton as shareholders. Forbes estimates Rihanna maintains a 30% ownership stake.
However, despite all these wonderful business ventures, she seems to have to take a break from her music career, as the star hasn't released a new album since 2016's Anti. This is something she often jokes about on her social media.
Rumors surrounding the thirty-three-year-old star's dating life have always been frivolous, however in 2020, it was confirmed that she was dating rapper A$AP Rocky. The couple had been friends for years, featuring in music videos and promotions together, however, they now seem to be inseparable, with Rocky describing her as "the one."