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At 33, Singer Rihanna Is Officially A Billionaire
Singer Robyn Rihanna Fenty famously known as Rihanna is now officially on the Forbe’s Billionaire’s list.
Forbes announced this on Wednesday.
Her net worth is now estimated to be $1.7 billion, according to Forbes.
This comes four years after she launched her successful beauty line, Fenty Beauty. This makes her the world’s richest female musician.
Interestingly, and similarly to Kanye West, it is her business, rather than her music career, that has propelled her to billionaire status.
Rihanna owns 50% of Fenty Beauty, which is named after her given name, Robyn Rihanna Fenty, as well as Savage X Fenty, a lingerie brand.
Her stake in the cosmetics company is worth $1.4 billion, while her stake in the lingerie company is estimated to be worth $270 million.
According to Forbes, Rihanna is now the second wealthiest female entertainer after Oprah. Her music career also contributes to her portfolio.
In 2017, Rihanna, who was born in Barbados, launched her makeup line. The makeup line stood out for its diverse color palette, which included foundations in a wide range of skin tones.
The other half of Fenty Beauty is owned by LVMH, a French luxury goods conglomerate that also owns major fashion brands such as Louis Vuitton. In its first year, the brand earned more than $550 million. According to Forbes, this outperformed comparable brands such as Kylie Jenner’s Kylie Cosmetics.
When she first launched her makeup line in 2017, it was notable for its wide range of colors, with foundations available in a variety of skin tones.
In 2005, the 33-year-old released her debut studio album. She has since released seven more albums and received nine Grammy nominations. She’s known as “badgalriri” on Instagram, where she has 103 million followers, and she frequently uses the platform to promote her brands to the masses.