Rihanna now officially a billionaire

Rihanna now officially a billionaire
Most of Rihanna's earnings come from her Fenty Beauty cosmetics company. Source: Getty Images
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Daily US Times: Rihanna is now the wealthiest female musician in the world and officially a billionaire, according to Forbes.

The Barbadian singer is worth $1.7 billion, with an estimated $1.4 billion coming from the value of her Fenty Beauty cosmetics company.

The rest of her money mostly comes from Savage x Fenty, a lingerie company, worth an estimated $270 million, and her earnings from acting and music.

Rihanna – whose real name is Robyn Fenty – is second only to superstar TV host Oprah Winfrey as the world’s richest female entertainer.

In 2017, she launched Fenty Beauty in a partnership with luxury goods company LVMH.

She said at the time that the aim of the company was to appeal to “every type of woman” and launched 40 different foundation shades, which at the time was largely unprecedented.

It led to the so-called “Fenty Effect” where other cosmetics brands broadened their shade ranges for make-up products.

LVMH said that the line brought in more than $550 million in annual revenue in its first year.

But, not all of her business ventures have paid off.

The pop star agreed with LVMH earlier this year to shut down her Fenty fashion label after less than two years in production.

The 33-year-old has sold more than 250 million records, but has not released a studio album since 2016’s Anti.

However, Rihanna was recently spotted shooting a music video with her boyfriend, rapper A$AP Rocky.

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