American Superstar, Robyn Rihanna Fenty, simply called Rihanna has been ranked as the wealthiest female musician according to the American business magazine, Forbes.
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Rihanna who has placed her music career on hold to pursue fashion and promote beauty brand is speculated to have about $1.7 billion as her net worth.
Well, it seems her decision to abandon music to venture into other sectors has finally paid off as she becomes the wealthiest female musician in the world, making the second female entertainer, leaving TV Host, Oprah Winfrey as the first.
Despite the fact that the Barbadian singer, actress and bussiness woman happens to be one of the world’s most popular musicians, her music riches only accounts for a small percentage of her new fortune.
According to Forbes, majority of her fortune (about $1.4 billion) stems from the value of Fenty Beauty, of which Forbes can now certify she owns 50%.
The rest comes from her lingerie firm, Savage x Fenty, which is worth an estimated $270 million, as well as her earnings as a chart-topping musician and actor, according to the report. Rihanna’s 203.5 million Instagram and Twitter followers combined played a significant influence in projecting her brand.
Fenty Beauty, a 50/50 joint venture with LVMH, a French luxury goods behemoth, debuted in 2017 with the purpose of being inclusive. According to Forbes, its products are available in a wide range of colors the foundation is available in 50 hues, including harder-to-find darker shades for women of color and are modeled by an equally broad collection of people in its advertisements.
Early February this year, Savage x Fenty, her lingerie company, raised $115 million in investment at a $1 billion valuation.
Savage x Fenty was founded in 2018 as a joint venture between TechStyle Fashion Group and blue-chip investors like Jay-Marcy Z’s Venture Partners and private equity company L. Catterton. According to Forbes, Rihanna owns a 30% share in the company.
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