Rihanna has become the world's wealthiest female singer
The American singer has recently joined the exclusive club of wealthiest celebrities as the richest musician of the world, revealed the Forbes magazine on Wednesday.
The 33-year-old entertainer and businesswoman sits on the fortune of an estimated $1.7 billion, the magazine tabulated. Television personality Oprah Winfrey alone is wealthier than her.
The wealthiest female entertainer received most of her fortune from the beauty and fashion companies she founded in 2017.
Rihanna, whose original name is Robyn Fenty, founded the company with her last name. Her brand Fenty Beauty has a current net worth of about $2.8 billion. She founded the company in collaboration with luxury goods giant LVMH.
The singer also owns another beauty brand of Fenty Skin and the lingerie line - Fenty x Savage. The company is valued at an estimated $1 billion.
According to Forbes, Rihanna has about 30 per cent share of Savage x Fenty and about 50 per cent share of Fenty Beauty. The company is a leader in the fashion and beauty industry thanks to its inclusivity of a wide range of skin types and colours.
Though the Covid-19 pandemic has dealt a severe blow to the businesses worldwide, a 2020 annual report from LVMH revealed the beauty industry showed signs of resilience and “a significant improvement in trends in all its activities compared to the first nine months of 2020.”
There are a dozen Black billionaires in the United States and now, Rihanna, originally from Barbados, is one of them.
The couple made their relationship public on Instagram
Prince Andrew has been accused of sexual assault
David Simon’s unknown project is said to be a limited series about Baltimore Police corruption
Meghan Trainor shares that she got her first panic attack live on television
Prince George will be swapping out a crucial wardrobe item as he is all grown up
Many fans have concluded what the gender of Kylie Jenner's second child is according to her latest campaign
Gwen Stefani reminisces her wedding dress moment
Mick Jagger gave fans a glimpse of their first unofficial performance, dedicating it to late drummer Charlie Watts
When Eugenie tied the knot to husband Jack Brooksbank, the Duke was there to attend the magical evening
The superstar got candid and shared she has already broken all the rules of the show's contract
Netflix said it had bought The Roald Dahl Story Company the family firm which owns the late British author's copyright
The pop icon took to Instagram to share that her boys have grown up really fast
COVID-induced production delays were seen globally, which in turn were affecting supply of new content
McCarthy said Meghan's face lit up when Harry entered the room during her 40x40 birthday campaign
BTS talk about COVID-19 and sustainability
Disney "has had a long history of having very symbiotic and cooperative deals," said the CEO after Scarlett...
Celebrations will be held in the UK throughout 2022, with a special weekend of events in June.
Penning an emotional essay for the 'Washington Post' op-ed, Thurman said she had an abortion in her 'late teens'