American singer Robyn Fenty, better known as Rihanna has been declared a billionaire by American business magazine, Forbes. According to the magazine, Rihanna attained the feat due to a cosmetic company, Fenty Beauty, which she launched in 2017.
Rihanna is now the wealthiest female musician in the world, with a worth of $1.7 billion. 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.
According to Forbes, Rihanna is currently the wealthiest female musician in the world and follows only the popular TV host, Oprah Winifred in terms of riches.
According to Forbes:
“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 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 was established in 2017 in partnership with Bernard Arnault considered as the second richest man in the world.
Apart from her cosmetic company, Rihanna is also is known for her lingerie and perfume lines which also generates stupendous income for her.