Rihanna can add a new title to her growing list of accolades: billionaire. On Wednesday (Aug. 4), Forbes reported that the Barbados-born singer is officially a billionaire, a lofty achievement that was mostly made possible by her lucrative Fenty Beauty empire.
“Rihanna is now worth $1.7 billion, Forbes estimates—making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer,” the outlet’s Madeline Berg writes.
According to Forbes’ estimations, Rihanna’s Fenty Beauty is currently worth $2.8 billion. As the Anti crafter owns a 50 percent stake in the company, the brand brings her in a whopping $1.4 billion.
Furthermore, Rihanna’s lingerie company Savage x Fenty raised $115 million in funding this February at a $1 billion valuation. Forbes writes that Rihanna owns a 30 percent ownership stake in the company after opening up to investors, including JAY-Z’s Marcy Venture Partners. Savage x Fenty reportedly accounts for $270 million of Rihanna’s fortune.
Fenty Skin, which launched last year, is also on the road to success. In a 2020 memo, LVMH, which owns the other half of Fenty Beauty, said the skincare imprint “generated unprecedented buzz” last year, while Fenty Beauty “maintained its appeal as a premiere makeup brand.”
Rihanna’s worth of $1.7 billion makes her the wealthiest female musician in the world and the second-wealthiest woman entertainer, after Oprah Winfrey. Recently, the 33-year-old also announced the upcoming launch of Fenty Beauty perfume.
“I wanted a rich color that really represented all genders from across all walks of life,” she said about the perfume’s packaging. “Brown is my favorite color. Brown is who I am. Brown is what I come from. If I’m going to make a fragrance that represents me, even the body language of the bottle needs to marry that.”
According to CR Fashion Book, the fragrance is “spicy-meets-sweet” and was inspired by several cities that Rihanna has visited.