Barbadian Superstar Rihanna Joins the Elite Billionaire Club
by Karen Rollins Aug 10, 2021
Barbadian superstar, businesswoman, and fashion icon, Robyn ‘Rihanna’ Fenty is officially a billionaire, according to business magazine Forbes.
In an article dated 4 August, Forbes estimates Rihanna’s net worth to be $1.7 billion (US).
Rihanna, 33, is the first Caribbean-born entertainer to join the billionaire’s club. Her success makes her the wealthiest female musician in the world and the second richest female entertainer behind Oprah Winfrey.
Shortly after the Forbes article was published, Rihanna was spotted shopping in New York with her boyfriend, US rapper A$AP Rocky. A paparazzo asked her: “Ri, self-made billionaire, what does that mean to you?”.
“God is good,” she responded.
Rihanna is best known as a pop star, but she has diversified into other areas, so that most of her wealth does not come from her music career. In fact, the entertainer’s money is primarily derived from the value of her cosmetics company, Fenty Beauty – a 50-50 joint venture she owns with French luxury goods conglomerate LVMH.
Launched in 2017 with the aim of reaching consumers the beauty industry has traditionally ignored, or marginalised, Fenty Beauty’s products come in a diverse range of colours and are advertised by an equally diverse group of people.
This marketing strategy has boosted the brand’s universal appeal. Rihanna’s social media reach, which includes 103 million followers on Instagram, has also contributed to Fenty Beauty’s estimated worth of $2.8 billion (US), according to Forbes.
Rihanna also earns a considerable amount of revenue from her lingerie company, Savage x Fenty. She maintains an estimated 30% ownership stake in the company, which launched in 2018 as a joint venture with TechStyle Fashion Group. The underwear brand is worth an estimated $270 million (US).
The Barbadian singer has sold more than 250 million records but fans have been waiting for new music from the star for years. Her last studio album called ‘Anti’ was released in 2016.
Rihanna has hinted at the prospect of releasing a reggae album, but her other business ventures are still keeping her busy, and paying the bills!