Rihanna, the world-renowned singer and entrepreneur, officially became a billionaire in 2022, with a significant portion of her wealth coming from her successful makeup company, Fenty Beauty. With an estimated net worth of $1.7 billion, Rihanna is now the richest female musician and the second wealthiest female entertainer, only surpassed by Oprah Winfrey, who has a net worth of $2.5 billion.
Fenty Beauty, which was launched in 2017, is a joint venture between Rihanna and French luxury retailer LVMH. The brand’s focus on inclusivity and its wide range of products catering to various skin tones have contributed to its immense success. Forbes estimates that around $1.4 billion of Rihanna’s fortune comes from the value of Fenty Beauty, in which she owns a 50% stake. The other 50% is held by LVMH.
In addition to Fenty Beauty, Rihanna also has a stake in her lingerie company, Savage x Fenty, which is worth an estimated $270 million. Despite her incredible success in the beauty and fashion industries, not all of her ventures have been as fruitful.
In February 2023, LVMH and Rihanna confirmed the shutdown of their high-end fashion and accessories house, also called Fenty, which had struggled during the pandemic.
Rihanna’s annual income varies depending on her promotional and release cycles, but she reportedly averages anywhere from $40 million to about $70 million per year. Her wealth has surpassed that of fellow musician Beyoncé, whose net worth is estimated at $500 million.
The Barbados-born singer’s journey to becoming America’s youngest self-made female billionaire is a testament to her ability to create successful brands outside of her music career. As a result, Rihanna has established herself as a powerful force in the fashion and beauty space, even if it means her fans have to wait a little longer for new music.