Rihanna is now a billionaire with a net worth of $1.7 billion

KARACHI: It’s official, Rihanna is a billionaire. The artist is the wealthiest female musician in the world and if we were to put Rihanna’s net worth into numbers it would amount to $1.7 billion. However, despite the fact that she has been crowned as the most wealthiest female musician, her wealth doesn’t stem from her music. In fact, she hasn’t released any new music since 2016. Instead, her wealth is generated from her brand Fenty Beauty cosmetics.

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Rihanna, whose real name is Robyn Fenty, launched her brand Fenty Beauty back in 2017 as a partnership with LVMH, a luxury goods company. Her purpose behind the brand was to be able to cater to “every type of woman” and so she launched 40 different foundation shades which was unprecedented in the beauty industry at the time. However, this in turn caused what became to be known as the “Fenty Effect” which saw rival brands rushing to bring inclusivity in their make up range shades to rival Fenty Beauty and revolutionized the way makeup was made and sold.

In just the first year Fenty Beauty was able to rack up a staggering $550 million in annual revenue. However, things haven’t always been smooth sailing for the Barbados-born singer when it comes to business. Just earlier this year Rihanna had to shut down her Fenty fashion label less than 2 years into production.

At present for Rihanna, $1.4 billion of her net worth is generated through the Fenty Beauty brand. The rest of her fortune comes from Savage x Fenty, her lingerie company which is estimated at $270 million as well her earnings from her acting and music endeavors. Rihanna and her net worth leave her only second to Oprah as the most wealthiest female entertainer.

Fans will also be excited to know that beyond just her new billionaire title, Rihanna was recently spotted with her boyfriend A$AP Rocky on the sets of her new music video.