Robyn Rihanna Fenty, a Barbadian singer, actress, fashion designer, and businesswoman has officially joined the billionaire club, making her the wealthiest female musician in the world who is now worth an estimated $1.7 billion (UGX 6,045,358,100,000), according to Forbes.
The 33-year-old pop star is worth $1.7 billion, with an estimated $1.4 billion coming from the value of her Fenty Beauty cosmetics company.
Rihanna has been successful not only as a musician and actress but also as a fashion designer who has ranked in a lot of money from the beauty industry alone through her Fenty Beauty brand, Savage x Fenty, a lingerie company.
According to Forbes, the rest of Rihanna’s fortune stems from her stake in Savage x Fenty, her lingerie company that is estimated at $270 million. There’s also Fenty Skin, which debuted last year including the revenue that comes from her music as well as her acting career.
The Fenty founder is second only to Oprah Winfrey as the world’s richest female entertainer. Aside from that, she has been able to stand tall amongst tough competition from the likes of Kylie Jenner’s Kylie Cosmetics, Kim Kardashian West’s KKW Beauty and Jessica Alba’s Honest Beauty. Her Fenty brand beats them all, bringing in more than $550 million after their first calendar year in 2018.
Robyn Fenty launched Fenty Beauty in 2017 in a partnership with luxury goods company LVMH and has since become a household name in the beauty industry in such a short time. According to BBC, Rihanna wanted Fenty to appeal to “every type of woman” and launched 40 different foundation shades, which at the time was largely unprecedented.
The line brought in more than $550 million in annual revenue in its first year, LVMH said.
Rihanna becomes the wealthiest female musician in the world
Most would think that the singer has made more money from her record-breaking hits but it is not the case. Surprisingly, the vast majority of her fortune has been accumulated from her Fenty Beauty makeup line launched in 2017 that sells lipstick, mascara tube, and blush brush at a time.
The Fenty brand received praise and fame for its bold and daring cosmetics products that would provide coverage from deep skin tones to albino skin, and anyone in between. The strategy sparked a movement to be more inclusive within the industry.
However, despite attaining the billionaire status, RiRi hasn’t been without her own trials. Earlier this year, Robyn agreed with LVMH to shut down her Fenty fashion label after less than two years in production. She also battled Covid-19 for a while and was able to make a full recovery.
It’s been more than five years since RiRi released an album. Most of her fans including her record label don’t even have clue on when R9, her rumoured and long-awaited reggae album will drop.
The Barbadian singer has sold more than 250 million records but has not released a studio album since 2016’s Anti. However, she was recently spotted shooting a music video with her boyfriend, rapper A$AP Rocky.
Last week, Robyn told her Twitter followers to prepare for Fenty Parfum, which will soon be available for all her clients.