World-famous popstar Rihanna is now the richest woman in the music world. The ‘Work’ singer’s Net worth is estimated at $1.7 billion, according to Forbes Magazine on Wednesday, August 4. Many might not know but the source of her wealth is not just the music business.
Born Robyn Fenty, her source of income is also due to her beauty and clothing range. Forbes reports, “The bulk of her fortune (an estimated $1.4 billion) comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50%. Much of the rest lies in her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress.”
Fenty Beauty, which is a joint venture with French luxury goods conglomerate LVMH (run by Bernard Arnault, the world’s second-richest person), was launched in 2017. According to Forbes, the estimate is a conservative $2.8 billion whereas her lingerie line Savage x Fenty, launched in February 2021, raised $115 million in funding at a $1 billion valuation.