Forbes Magazine: Rihanna Is Officially A Billionaire
Singer Rihanna, has been declared a billionaire by Forbes, American business magazine. According to Forbes she is now the wealthiest female musician in the world. She comes second to Oprah Winfrey who is the richest female entertainer in the world.
The music star who is now worth $1.7B, joins the billionaire league following the success of her cosmetic company, Fenty.
“Much of the rest lies in her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress.”
Fenty Beauty, which was launched in 2017, is a 50-50 joint venture with French luxury goods conglomerate LVMH (run by Bernard Arnault, the world’s second-richest person).
With a worth of $1.7 billion, Rihanna is now the wealthiest female musician in the world. She comes second to Oprah Winfrey who is the richest female entertainer in the world.
The singer owns 50 per cent of Fenty Beauty which produced an estimated $1.4 billion of her wealth, with the rest coming mostly from music.
The other 50 per cent of the cosmetic company is controlled by French luxury goods conglomerate LVMH.