The singer, known for her hit singles “Umbrella” and “Where Have You Been” to “We Found Love” and “Work” is now worth a whopping $1.7 billion, making her the wealthiest female musician, only second to Oprah, as the richest female entertainer.
According to Forbes, Rihanna achieved bulk of her income from her fashion and beauty brands. Fenty Beauty, launched in 2017, has contributed an estimated $1.4 billion to the 33-year-old’s wealth.
The cosmetics company gained instant fame for its inclusivity of all skin tones, generating more than $550 million in annual revenue in its first year. At the time, Fenty Beauty was one of the first (and most notable) brands to introduce a variety of foundation shades, and was especially popular among women of colour.
The brand which is currently sold online at Sephora is a 50-50 joint venture between Rihanna and LVMH – the conglomerate behind luxury brands like Christian Dior and Louis Vuitton.
In recent years, celebrities such as Kim Kardashian, Kylie Jenner, Jessica Alba and Lady Gaga have all put their names behind big makeup and skincare lines. However, none is as big as Rihanna, the most successful among the A-lister.
Besides Fenty Beauty, Rihanna also heads a successful fashion and lingerie company, Savage X Fenty. Launched in 2018, the brand recently raised $115 million in funding — bringing its valuation to over $1 billion. Rihanna maintains a 30 per cent ownership stake, Forbes estimates.
