FORBES Names Rihanna World's Richest Female Musician

By

Alabi Oreoluwa


Forbes magazine has named the popular music star, Robyn Fenty, popularly known as Rihanna, the world’s richest female musician. Rihanna, the magazine said, has reached a billionaire status with an estimated net worth of $1.7 billion. Her latest milestone makes her the wealthiest female musician in the world and the second wealthiest female entertainer, behind Oprah Winfrey.

Most of her fortune, estimated on Wednesday by Forbes, does not come from chart-topping singles, but from the success of her cosmetics empire. Rihanna, 33, launched Fenty Beauty in 2017 with a dream to create a cosmetics company that made “women everywhere [feel] included. In it’s first year, the company of which she owns 50 per cent stocks achieved sales of $550m, far more than other celebrity-endorsed makeup ranges.

Forbes magazine estimates that the company is now worth “a conservative $2.8bn. “Rihanna’s stake in the company, combined with a 30% stake in the lingerie line Savage X Fenty and money generated during her 16-year career as a recording artist, take her fortune to $1.7bn. 

While Rihanna is not the only celebrity to capitalize on her social media presence- she has 101 million followers and Instagram and 102.5 million on Twitter just to build a beauty brand, she is the most successful beauty entrepreneur to do so.

The only complaint some fans may have about her career as a fashion and beauty mogul? It keeps

her busy. The singer, who used to release an album almost every year, hasn’t released a new album

since 2016’s Anti.

From a financial perspective, that may be just fine: “She is creating a brand outside of herself. It’s not just about Rihanna,” says consultant Coyne. “Even if you don't like her music, she’s created a real style in the fashion and beauty space."

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