Riri officially joins the Billionaire Club and not with Fenty Music.
Barbadian Pop-princess Rihanna has officially become the richest female musician according to Forbes. Fenty Beauty launched in 2017 and since then Rihanna has launched even more under the namesake brand with Fenty Skin, Fenty x Savage and FENTY by LVMH.
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. But it’s not her music that’s made her so wealthy. The bulk of her fortune (an estimated $1.4 billion) comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50%. Much of the rest lies in her stakein her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress.
Thanks to the impressive multiples at which beauty companies are trading, Fenty Beauty is worth a conservative $2.8 billion, Forbes estimates. And all signs point to the company continuing to grow. In its annual report for 2020, LVMH said Fenty Skin, which launched last year, was off to a “very promising start” and “generated unprecedented buzz,” and that Fenty Beauty “maintained its appeal as a premier makeup brand.”
Rihanna has yet to release music since her chart-topping album Anti (Westbury Road / Roc Nation) in 2016 which was snubbed by the Grammys. The LP’s snubbing may have a lot to do with the delay of releasing any new music and focusing on more lucrative endeavors for the now billionaire mogul.
Terrell Johnson is the Editor-in-Chief and Founder of SWGRUS.