Bajan pop star and fashion icon, Robyn "Rihanna" Fenty is officially a billionaire, according to business magazine Forbes.
On Wednesday, Forbes reported that the cultural ambassador has an estimated net worth of $1.7 billion, making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.
However, it is not just her music that makes her wealthy, but a bulk of her fortune comes from her beauty and fashion brands.
Forbes estimates that Fenty Beauty is worth $2.8 billion, to which RiRi owns 50 per cent - Fenty Beauty contributes to $1.4 billion of her fortune. Additionally, her lingerie company, Savage x Fenty, to which she maintains 30 per cent ownership stakes, is worth an estimated $270 million and the rest of her fortune comes from her career as a musician and actress.
With Fenty Beauty being one of the most successful celebrity-founded beauty brands, with more than $550 million in annual revenues, Rihanna has become one of the most successful celebrity entrepreneurs to step into the beauty market. She has beaten the likes of Kylie Jenner’s Kylie Cosmetics, Kim Kardashian West’s KKW Beauty and Jessica Alba’s Honest Co, the magazine stated.
What has ratified Rihanna's success is her inclusivity to all genders, shapes, sizes, skin shades. She has dismantled the rigid beauty standards of society and forged her own path, marketing her products to diverse groups with the coherent theme that different is beautiful.
“A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark,” Shannon Coyne, co-founder of consumer products consultancy Bluestock Advisors told Forbes. “We all know that’s not reality. She was one of the first brands that came out and said, ‘I want to speak to all of those different people.’”