Rihanna is Officially a Billionaire - Thanks to Cosmetic Brand Fenty

Thanks to the lucrative cosmetic brand Fenty Beauty valued at $1.4 billion & an ownership stake in the lingerie company Savage X Fenty worth an estimated $270 million, Rihanna is now officially the second wealthiest female entertainer after Oprah Winfrey. Fenty Beauty has made Rihanna a billionaire & Forbes estimates that the singer is worth $1.7 billion.

Robyn Fenty, aka  Rihanna, launched her cosmetic brand Fenty Beauty in 2017. This beauty line helped her enter one of the world's most exclusive ranks as a Billionaire. The nine-time Grammy awards winner is now worth $1.7 billion.

Forbes estimates- her to be the wealthiest female musician in the world, only behind Oprah Winfrey as the richest female entertainer. A huge part of her wealth, an estimated $1.4 billion, comes from Fenty Beauty and owning 50% of the total stakes. 

While the Barbados-born Rihanna's Fenty Beauty is a 50-50 joint venture with French luxury goods conglomerate LVMH (run by Bernard Arnault, the world's second-richest-person launched with the goal of inclusivity, during its first full calendar year of 2018, the line brought in more than $550 million in annual revenues, beating out of the celebrity brands Kim Kardashian West's KKW Beauty and Jessica Alba's Honest Co.

Rest lies from Rihanna's stake in lingerie company Savage X Fenty with an estimated $270 million and her hefty cash from her career as a chart-topping actress & musician. In February, Rihanna's lingerie line Savage X Fenty raised $115 million in funding at a $1 billion valuation. This luxury cosmetic company got launched in 2018 at a joint venture with TechStyle Fashion Group. Rihanna maintains a 30% ownership stake. 

But, in February, LVMH & Rihanna confirmed shutting down their other venue, a high-end fashion & accessories host also called Fenty, launched in 2019. Like many fashion brands, the high-priced line also faced losses during the coronavirus pandemic & released its final collection in November 2020.

Meanwhile, fans moaned how Rihanna doesn't make music anymore. But, since the businesswoman has been concentrating so much of her time on her beauty empire, fans shall definitely wait for new music. The music artist, who used to release an alum almost every year, hasn't released a new album since her 2016's Anti.

When Rihanna launched Fenty Beauty in 2017, it was judged the move was nothing but just a money grab. She changed the shade-ranged game tangily when she made Pro Filt's Soft Matt Longewear Fondation available in 40 and 50 skin-matching hues. Then, it was clear that she genuinely loved being in the cosmetic business nearly as much as the music that made her star. 

Likewise, on Instagram, with over 103 million followers with username @badgalriri, Rihanna often uses the platform for advertising her lucrative brands to the masses. Forbes that declared Rihanna is officially a billionaire, credits in large part to Fenty Beauty.

For more news, stay connected with Married Wiki.