Rihanna officially a billionaire

According to a report by Forbes, the 33-year-old pop star-rapper Rihanna is now officially a billionaire businesswoman and has become the richest female musician in the world, with an estimated fortune of $1.7 billion (£1.2 billion or €1.01 billion), placing her second in the world, behind American entrepreneur, Oprah Winfrey.

Her Fenty Beauty cosmetics company is the source of the majority of her wealth, which has earned Rihanna an amazing $1.4 billion (£1b or €1.18b), while around $270 million (£194 million or €228.1 million) comes from Savage x Fenty, the lingerie company the Barbadian is involved with, with the rest coming from her career in acting and music, having sold more than 250 million records worldwide, although her last album release is back in 2016 now.

Rihanna’s real name is Robyn Fenty, hence the use of ‘Fenty’ in her business ventures, having launched her Fenty Beauty range in partnership with LVMH – the luxury goods company – in 2017, which in its first year alone allegedly brought in $550 million (£394.7 million or €464.7 million), with Rihanna saying at the time that the line was being launched to appeal to “every type of woman”.

This launch led to what became known as the ‘Fenty Effect’, as other brands rushed to also broaden the range of colour shades they had on offer in make-up products.

As is the case with most successful entrepreneurs, not everything turns to riches, with Rihanna closing down her Fenty clothing fashion label after only two years in existence, as reported by bbc.com.

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