Rihanna has officially hit billionaire status!
The singer, born Robyn Fenty, didn’t just rise to the top as an entertainer, but over the past few years she’s become quite the businesswoman thanks to Fenty Beauty, the cosmetics company made to make “women everywhere (feel) included.”
After launching in 2017, Fenty Beauty is now the reason that Rihanna has hit billionaire status. The 33-year-old is now worth an estimated $1.7 billion, according to Forbes.
Not only does this make her the wealthiest female musician in the world, but now Rihanna is alongside Oprah Winfrey as the richest female entertainer.
An estimated $1.4 billion of her fortune is all thanks to Fenty Beauty which the “Love On The Brain Singer” owns half of. The rest of her coins comes from her lingerie company, Savage x Fenty, which is worth an estimated $270 million and the remaining amount is thanks to the money she’s made as a chart-topping musician and actress.
If folks haven’t considered Rihanna a mogul yet, they can certainly start now. The Barbados native has even capitalized off of her social media presence with 101 million Instagram followers and 102.5 million followers on Twitter. Her social media has not only helped her to build a beauty brand, but she is now one of the most successful beauty entrepreneurs to do so.
Fenty Beauty is more than just a cosmetics brand. Rihanna created the line with one goal in mind — inclusivity. Products come in a range of colors with foundations offered in 50 shades, plus darker shades made for women of color who often struggle to find makeup that’s the perfect fit.
The 50-50 joint feature with French luxury goods conglomerate LVMH is often advertised through the use of a group that’s just as diverse as the makeup line.
During the company’s first full calendar year in 2018, Fenty Beauty brought in more than $550 million in annual revenues ultimately beating out other brands founded by celebrities like Jessica Alba’s Honest Company, Kim Kardashian West’s KKW Beauty, and Kylie Jenner’s Kylie Cosmetics.
AfroTech previously reported that Rihanna’s highly-successful Savage x Fenty brand hit a major milestone after raising a $115 million Series B funding round in February 2021 — bringing it to a $1 billion valuation.