WASHINGTON D.C. – Forbes, an American business magazine has named songstress Robyn Fenty aka Rihanna the wealthiest female musician in the world.
This was after the pop star officially turned a billionaire worth $1.7 billion (£1.2 billion), with an estimated $1.4 billion coming from the value of her Fenty Beauty cosmetics company she launched in 2017 in a partnership with luxury goods company LVMH.
The rest of her fortune mostly comes from lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from music and acting.
Rihana now becomes second only to Oprah Winfrey as the world’s richest female entertainer.
While launching Fenty in 2017, Rihana shared that the aim of the line was to appeal to ‘every type of woman’ and launched 40 different foundation shades, which at the time was largely unprecedented. It led to the so-called ‘Fenty Effect’ where rival brands broadened their shade ranges for make-up products.
The line brought in more than $550 million in annual revenue in its first year, LVMH said.
However, not all of Rihanna’s business ventures have paid off just like any other business that has highs and lows.
The Barbadian singer has sold more than 250 million records, but has not released a studio album since 2016’s Anti.
Rihana was last seen in the public eye recently on a video shoot with her boyfriend, rapper A$AP Rocky.