Jason Harris
It’s official: Rihanna has finally entered the billionaire’s club making her the richest female musician in the world.
According to Forbes, Rihanna is now worth a whopping $1.7 billion. But her massive fortune is not just coming from her music, the big chunk of her wealth actually comes from the value of Fenty Beauty (worth approximately $1.4 billion), in her lingerie company, Savage x Fenty (worth approximately $270 million) and of course, her earnings from her career in music and acting.
Fenty Beauty was launched in 2017 and this is a 50-50 joint venture between Rihanna and French luxury goods conglomerate LVMH (run by Bernard Arnault, the world’s second-richest person). Forbes attributes Fenty Beauty’s success in its products which come in a diverse range of colours—the foundation which is offered in 50 shades, and this includes harder-to-find darker shades for women of colour.
Furthermore, Fenty Beauty isn’t Rihanna’s only billion-dollar baby. Forbes confirmed that in February, her lingerie line Savage x Fenty raised $115 million in funding at a massive $1 billion valuation. Savage x Fenty was launched in 2018 as a joint venture with TechStyle Fashion Group, this venture includes high-profile investors such as Jay-Z’s Marcy Venture Partners and private equity firm L.
With all these successful ventures under her belt, it’s understandable that she hasn’t released any new music as her last album, Anti, came out back in 2016. A massive congratulations to Rihanna and more power to her!
Editorial credit: DFree / Shutterstock.com
Jason Harris
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