Everyone knows ‘Bad Girl Riri’ has been doing her thing, but Forbes just officially declared the Barbadian beauty a billionaire. Known to the world as Rihanna, Robyn Fenty has grown her namesake beauty empire in such an impressive fashion (pun intended), it has now allowed her to join the exclusive billionaire club that only boasts one other Black woman – Oprah Winfrey.
In an article entitled, “Fenty’s Fortune: Rihanna Is Now Officially A Billionaire,” Forbes estimated Rihanna is now worth $1.7 billion thanks to her makeup and lingerie businesses, the first of which she launched in 2017 with the goal of making “women everywhere included.”
The designation makes Rihanna the richest woman musician in the world and she only trails Winfrey – whose net worth was listed as $2.6 billion by Visual Capitalist in Feb. – as the richest woman in entertainment overall.
“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,” Forbes reports. Rihanna also launched Fenty Skin last year, which is surely contributing to her billionaire pot.
Upon its debut, Fenty was set apart from other brands by the array of diverse colors in its product offerings. The brand intentionally aimed to reach consumers, particularly Black women and other women of color, who had been ignored by other mainstream beauty and fashion brands.
A joint venture with Bernard Arnault’s French luxury goods conglomerate LVMH, the brand made $550 million in annual revenues its first year and has been consistently soaring ever since.
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It seems like Rihanna is taking her own advice from her 2008 collaboration with T.I. and living her life to the fullest. Even Nicki Minaj posted some custom bars in her Instagram story to celebrate Rihanna has a billion reasons to smile. Hint: Only one of them is her whirlwind romance with boyfriend A$AP Rocky.
Along with a screenshot of a tweet about Rihanna’s millionaire status, Minaj wrote, “a BILLI-ON here, a BILLI-ON there- Little Bajan bih w/ green [eyes] – dat bag is a different size … #IfThisDon’tInspireYou.”
While some of Rihanna’s loyal music fans have been brooding because boss bae boardroom moves have kept her too busy to release a new album, she doesn’t show any signs of slowing down.
On July 28, the multi-hyphenate entertainer and entrepreneur tweeted to her 102.7 million followers that Fenty Parfum was coming soon.