Rihanna has just joined an exclusive group of celebrities as the world’s newest billionaire and richest musician, according to Forbes.
Rihanna’s fortune is currently around $ 1.7 billion, according to the financial magazine. Only Oprah Winfrey surpasses her as the richest female artist.
But while Rihanna is known for hits like “Umbrella” and “Diamonds,” her fortune is largely the result of the beauty and fashion companies she founded.
Indeed, Fenty Beauty is currently valued at around $ 2.8 billion and was founded in 2017 with luxury giant LVMH. Rihanna also owns Fenty Skin and the $ 1 billion Fenty x Savage lingerie line.
Savage X Fenty is also having a great time. In February, the lingerie line raised $ 115 million in funding for a valuation of $ 1 billion and Forbes estimates Rihanna has a 30% stake. In October, the brand launched the second edition of the famous Savage X Fenty show on Amazon.
However, not all brands run by Rihanna have seen the same success. Earlier this year, LVMH announced the closure of the Fenty ready-to-wear line, launched in 2019. Fenty was the first LVMH label led by a black woman and the first of the group’s brands to be built from zero since 1987.
With so much work as a fashion and beauty entrepreneur, it doesn’t look like Rihanna plans to release any new music anytime soon, but with such remarkable accomplishments keeping her busy, fans can expect a bit more.