Rihanna is officially a billionaire, making her the wealthiest female musician in the world and the second-wealthiest female entertainer in the world after Oprah Winfrey.
According to Forbes, Rihanna is now worth $1.7 billion (£1.2 billion), thanks to the stratospheric success of her cosmetics brand Fenty Beauty, which is estimated to be worth $1.4 billion.
Aside from her earnings as a musician and actor, the Fenty founder has also earned the rest of her fortune from her lingerie company Savage x Fenty, which is reportedly valued at $270m (£193m). Her LVMH-backed luxury label Fenty, however, was put on hold earlier this year due to the ongoing pandemic.
While Riri’s celebrity status has no doubt informed the success of Fenty Beauty, Forbes also noted the brand’s diverse product line, in particular its game-changing 40 shades of foundation.
With its innate diversity and inclusivity, Fenty Beauty set the benchmark for brands that could no longer get away with limited shade ranges and shameful lack of diversity in campaigns. The increase in beauty brands expanding their shades and representation over the last few years is now referred to as “the Fenty Effect”.
Meanwhile, there’s still no word on when Rihanna will be releasing new music. The singer’s last album Anti came out in 2016, prior to the launch of her business ventures. Presumably Ri is enjoying her new fortune with beau A$AP Rocky. Or perhaps she’s polishing off the finishing chapters of her upcoming cookbook. At least we won’t go hungry while we wait for the next drop.