Rihanna’s net worth is estimated at $1.7 billion, making her the richest woman musician in the world, but her music is not the primary source of her wealth, Forbes magazine said on Wednesday.
The Barbados-born singer, whose birth name is Robyn Fenty, derives an estimated $1.4 billion of her fortune from her 50 percent stake in the Fenty Beauty cosmetics line, Forbes reported. The rest of Rihanna’s wealth comes from her share of the Savage x Fenty lingerie line, Fenty couture collection, and her income as a singer and actress, the magazine said.
Rihanna’s beauty company, of which LVMH owns the other half, is known for its broad range of 50 skin tones, including dark shades for women of color, which were rare when it launched in 2017. This made it a leader in inclusivity in the industry.
Fenty Beauty is worth a conservative $2.8 billion, Forbes estimates, and the company shows no sign of slowing down. Fenty Skin launched last year, with a “very promising start,” and earlier this week, the brand debuted its first fragrance, a gender-neutral parfum that will be available for purchase on August 10.
“Even if you don’t like her music, she’s created a real style in the fashion and beauty space,” Shannon Coyne, cofounder of consumer products consultancy Bluestock Advisors, told Forbes. The singer of “Umbrella” and “Love the Way You Lie” ranks second behind Oprah as the richest female entertainer, Forbes said.
But while she continues to build her empire, Rihanna has fans on the edge of their seats awaiting another album.
(Writing by Cynthia Osterman; Editing by Dan Grebler)
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