Rihanna has entered a new territory!
The Barbados native has been dubbed the “richest female musician” by Forbes as they announce that she has officially reached billionaire status.
In an announcement today (August 4), Forbes says that Rihanna is worth an estimated $1.7 billion with most of her fortune coming in from her cosmetic beauty brand, Fenty Beauty.
She now joins Oprah Winfrey as one of the richest entertainers in the world and it’s all thanks to Fenty Beauty, launched in 2017 with a mission to bring inclusivity to the beauty industry.
Fenty Beauty includes 50 shades that cater to all skin tones, especially darker hard-to-find shades for Black women. The brand was launched by the entertainer, born Robyn Fenty, in partnership with luxury goods conglomerate LVMH.
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At the time of the launch, the brand was made up of 40 shades of foundation which caused the “Fenty Effect,” thanks to the influence it had on other brands to expand their shade ranges to cater to all complexions.
To date, Fenty Beauty covers pretty much everything under the sun of makeup which includes brushes, lipsticks, body shimmer, and more.
An estimated $1.4 billion of Rihanna’s net worth comes from Fenty Beauty, with $27- billion coming in from her lingerie brand, Savage X Fenty.
The rest of the “Pon de Replay” singer’s fortune comes from her success as a chart-topping musician and actress.
USA Today reports that in 2019, the 33-year-old mogul made history when she launched her luxury fashion house, Fenty, under the LVMH umbrella. Thanks to this move, she became the first person to launch a new house with the brand since 1987 and the first woman to create an original brand there. She also became the first woman of color at the top of the LVMH Maison.
Now, that’s how you build an empire, congrats to Rih Rih on the new milestone!
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