Barbadian singer Rihanna has become a billionaire but, funnily enough, it was not because of her music! Some days ago Forbes revealed that the 'Umbrella' singer reached billionaire status making her the richest female musician in the world and second richest female entertainer only behind Oprah Winfrey. Bravo!
Born as Robyn Rihanna Fenty, the singer is estimated to be worth $1.7 billion. Although she is well known for her music, the majority of her net worth ($1.4 billion of it) can reportedly be attributed to her beauty company, Fenty Beauty which launched in 2017. Her lingerie line, Savage x Fenty, is worth $270 million. Following the exciting news, Riri was spotted by some photographers on a shopping spree in New York City's NoHo neighborhood, she and her boyfriend A$AP Rocky were approached and one cleverly asked her what it meant to her to be a self-made billionaire. “God is good,” She humbly declared before going on her way.
"She is creating a brand outside of herself. It's not just about Rihanna," financial consultant Shannon Coyne told Forbes about Rihanna's unprecedented achievement. "Even if you don't like her music, she's created a real style in the fashion and beauty space." Launched as a joint venture with French luxury goods company LVMH, Rihanna's Fenty Beauty went on to pull in $550 million in annual revenue, according to Forbes. Fenty Beauty went on to earn more than other high-profile celebrity brands like Kim Kardashian's KKW Beauty, Kylie Jenner's Kylie Cosmetics, and Jessica Alba's Honest Company.
When Rihanna launched Fenty Beauty, she declared that she wanted all women to feel great. "We are women, and we have challenges. We deserve to feel beautiful, and I want women of all shades to feel included and all races and all cultures to be a part of this. That's really what was important to me within the choosing the shades and how many we were going to make, especially with the foundation. It's a fun situation and I want all women to have a piece and take part of this."
The following year, she launched Savage X Fenty with TechStyle Fashion Group with the intention of helping women feel sexy and confident while also being comfortable. "We always want to include women who haven't felt sexy by society's terms and expectations," she told Vogue. "We want them to feel like this is their safe space and hub, that we get it, and are one with them.” Despite her new status, Rihanna isn’t taking free time. Her new ventures include a perfume called Fenty Parfum, as well as a Caribbean cookbook featuring recipes from her childhood, and a line of Fenty hair products.