Rihanna's list of accomplishments just keeps growing. According to a new report from Forbes, Rihanna is now officially a billionaire.
While many people know Rihanna exclusively as a chart-topping musical artist, the bulk of her wealth actually comes from her numerous other ventures in the fashion, beauty, and lifestyle spaces. Forbes reports her makeup line Fenty Beauty, of which Rihanna owns fifty percent, is currently valued at $2.8 billion. The business mogul's lingerie company, Savage x Fenty, is also worth an estimated $1 billion. Rihanna owns thirty percent of the lingerie company.
These astounding earnings have Rihanna's personal wealth valued at $1.7 billion. This means she is now the richest female musician in the world. She falls only behind Oprah Winfrey as the wealthiest female entertainer.
Shannon Coyne, cofounder of consumer products consultancy Bluestock Advisors, tells Forbes that Fenty Beauty was one of the first makeup lines to release a wide variety of inclusive shades, making it a breakout success. “A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark,” Coyne explained. “We all know that’s not reality. She was one of the first brands that came out and said ‘I want to speak to all of those different people.’”
Coyne doesn't expect Rihanna's businesses to stop growing anytime soon, either, even though many of her fans would like to see her release a follow-up to her 2016 album Anti. "She is creating a brand outside of herself. It’s not just about Rihanna,” Coyne says. “Even if you don't like her music, she’s created a real style in the fashion and beauty space.”