According to Forbes, Rihanna is now worth $1.7 billion.
Even though the mogul, philanthropist and entertainer got her start in the music business — spurring countless hits over the last decade and a half — her Fenty empire is what’s really helped RiRi achieve her billionaire bag.
The outlet reports that she is now “the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.”
“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%,” the recent announcement detailed. “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.”
LVMH, a French luxury goods corporation, played an essential role in helping Rihanna make it to the top. If you didn’t know, the conglomerate owns the other 50% of Fenty Beauty, which was launched in 2017.
Within a year of being established, the French corporation shared that Fenty Beauty made over $550 million in annual revenue — making more than any other celebrity-founded beauty brand, including Kylie Cosmetics (Kylie Jenner), KKW Beauty (Kim Kardashian), Flower Beauty (Drew Barrymore), Haus Labs (Lady Gaga), and Honest Company (Jessica Alba).
The outlet estimates that Fenty Beauty is worth $2.8 billion. In its yearly report, LVMH wrote that Fenty Skin — which was launched just last year — has had a “very promising start.”
Notably, the star’s high-end fashion and accessories line, Fenty, was shut down in February. Being launched in 2019, it was another business venture the musical mogul collaborated with LVMH on. It attempted to disrupt the luxury market with its size-inclusive fashions — similarly to how Rihanna disrupted the beauty space with the diverse shade range of Fenty Beauty.
Unfortunately, the clothing line was just unable to withstand the economic toll the pandemic took on the fashion industry. Its final collection was released last November.
What’s ironic is that on the same day that the Fenty clothing line was officially paused, Fashionista reports that Savage x Fenty — a brand of which Rihanna holds a 30% ownership stake and shares with TechStyle Fashion Group and various shareholders — raised $115 million in Series B funding. After being introduced to the market in 2018, the lingerie line is now valued at $1 billion.
Forbes noted that the new funding “will reportedly be used for customer acquisition and retail expansion.”
All things said and done, even though RiRi fans are still pinning to hear her new album — having gone years since the release of her 2016 project Anti — Rihanna clearly has no plans to stop growing her empire on the business side of things. As MADAMENOIRE has previously reported, the singer has a Caribbean cookbook, Fenty Hair, and a Fenty parfum all on the way.
Congrats to her.