Rihanna is officially a billionaire at 33 years old, according to Forbes.
Singer-turned-beauty and fashion mogul Rihanna is officially a billionaire, Forbes announced on Wednesday. Her net worth is now an estimated $1.7 billion — about four years after launching her successful beauty line, Fenty Beauty, making her the richest female musician in the world.
It was her business — not her music career — that boosted her to billionaire status. She not only owns 50% of Fenty Beauty, which is named after her given name, Robyn Rihanna Fenty, but she also has a stake in lingerie brand Savage X Fenty.
Pop star mogul Rihanna, ranked No. 16, is now officially a billionaire, becoming one of a record 26 women on the list with 10-figure fortunes. Other new billionaires this year include 23andMe’s Anne Wojcicki and dating app Bumble founder Whitney Wolfe Herd, both of whom took their companies public; fintech entrepreneur Jenny Just; insurance company founder Robyn Jones and reality TV star and cosmetics mogul Kim Kardashian West, whose fortune has surged as the value of shapewear firm Skims has taken off.
That is good news for Rihanna. Thanks to the impressive multiples at which beauty companies are trading, Fenty Beauty is worth a conservative $2.8 billion, Forbes estimates. And all signs point to the company continuing to grow. In its annual report for 2020, LVMH said Fenty Skin, which launched last year, was off to a “very promising start” and “generated unprecedented buzz,” and that Fenty Beauty “maintained its appeal as a premier makeup brand.”
Not that everything Rihanna touches turns to gold. In February, LVMH and Rihanna confirmed in a statement to Forbes that they had shut down their other venture, a high-end fashion and accessories house also called Fenty. Launched in 2019, Fenty sought to extend Rihanna’s brand of inclusivity and offer styles in a range of sizes. But like many luxury fashion brands, the high-priced line suffered during the pandemic, releasing its last collection in November 2020.
The only complaint some fans may have about her career as a fashion and beauty mogul? It keeps her busy. The singer, who used to release an album almost every year, hasn’t released a new album since 2016’s Anti.
From a financial perspective, that may be just fine: “She is creating a brand outside of herself. It’s not just about Rihanna,” says consultant Coyne. “Even if you don’t like her music, she’s created a real style in the fashion and beauty space.”