Barbadian singer and businesswomen, Rihanna is now officially a billionaire. Forbes has declared the pop-star’s worth to be that of 1.7 billion, making her “the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.”
Rihanna who is one of the most successful singers of the world has topped global charts time and again with her super hit songs. The R&B songstress is also a fashion icon and has a huge make-up and fashion empire. Known for her chart-topping songs like “Umbrella,” “Only Girl (In the World),” and “Work”, Rihanna is one of the best-selling music artists of all time. However the majority of her wealth came from non-musical endeavors, driven largely by her brands like Fenty Beauty and Savage x Fenty.
After ruling the music industry for a long time and winning nine Grammy Awards, 13 American Music Awards, and 12 Billboard Music Awards RiRi turned her attention away from music and become a powerhouse in the beauty brand space.
Rihanna has a 50-50 joint venture with French luxury conglomerate LVMH in Fenty Beauty. The venture was an instant success after being launched in 2017 and brought in more than $550 million in annual revenue in its first calendar year.
Rihanna also launced a lingerie brand, Savage x Fenty in 2018. It is a joint venture with TechStyle Fashion Group (Rihanna has a 30% ownership stake, according to Forbes). The venture raised $115 million in funding earlier this year bringing the brand’s valuation to over $1 billion. The plan is to use the funding to open Savage x Fenty stores.
Even though she has not produced an album since 2016, Rihanna still has many fans, with more than 100 million followers on Instagram and Twitter.
