Singer Rihanna is officially a billionaire
Forbes, a business magazine which tracks and publishes data on the world’s wealthiest individuals on Wednesday reported that singer Rihanna Fenty, 33 is offcially a billionaire. The 33-year-old pop star’s estimated net worth to be $1.7 billion, making her the wealthiest female musician and the second-richest woman in entertainment behind Oprah Winfrey.
It’s been five years since the “bad gal” from Barbados dropped a new album after her 2016 instant classic “Anti” spent 63 weeks on the Billboard charts. Instead, she dedicated her time to building her business empire through her Fenty Beauty makeup line and her Savage x Fenty lingerie line.
Forbes estimates Fenty Beauty alone is worth $2.8 billion. In 2018, the makeup brand, which is sold at Sephora stores, was generating more than $550 million in annual revenues, earning more than Kim Kardashian West’s KKW Beauty, Kylie Jenner’s Kylie Cosmetics and Jessica Alba’s Honest Company, the magazine reported.
Historically, women’s fashion and beauty brands have perpetuated Eurocentric and often unrealistic standards of beauty. One of the keys to Rihanna’s success has been marketing products to women of all shapes, sizes and skin shades, according to Shannon Coyne, cofounder of Bluestock Advisors, a consumer products consultancy.