Rihanna has achieved billionaire status.
The multi-hyphen, real name Robyn Fenty, was officially declared a billionaire on Wednesday, according to a profile on her fortune in Forbes.
The 33-year-old “Work” singer, who has a hit catalog dating back to the early 2000s, is worth $ 1.7 billion, the magazine estimates.
However, Rihanna’s fortune is not solely due to her musical career. The superstar has to thank her company Fenty Beauty for the majority of her wealth. She launched it in 2017.
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Rihanna’s wealth also makes her the richest musician in the world, Forbes reports, and she is in second place, just behind Oprah Winfrey, as the richest female artist.
Forbes notes that about $ 1.4 billion of Rihanna’s wealth comes from her cosmetics line. The outlet reports that it owns 50% of the business while it also owns a stake in its lingerie company, Savage X Fenty, which is estimated to be worth $ 270 million.
The performer’s music and acting credits make up the rest of his fortune.
The singer is parting ways with Fenty Beauty with LVMH, a luxury goods company in France run by Bernard Arnault, the second richest person in the world, according to the report.
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Shannon Coyne, co-founder of Bluestock Advisors, highlighted Fenty Beauty’s wide product line for different skin tones.
“She was one of the first brands to come out and say, ‘I want to talk to all these different people. “” Coyne said of the star.