The 'Umbrella' hitmaker has added billionaire to her resume, thanks to her profitable Fenty line only four years after the company was first launched in 2017.
- Aug 5, 2021
AceShowbiz - Rihanna is officially a billionaire thanks to her Fenty line of products, making her the world's wealthiest female musician.
The "Umbrella" hitmaker is now worth an estimated $1.7 billion, Forbes reports, making her the second richest woman in entertainment on the planet, behind Oprah Winfrey, who has an estimated net worth of $2.7 billion.
The singer founded Fenty Beauty in 2017 with a desire to "make women everywhere included." The line, which launched with 40 shades of foundation, offered women of colour far more makeup options than had previously been available. Fenty products debuted at U.S. chain Sephora, racking up sales of more than $100 million (£72 million) in the first few weeks.
The makeup was quickly embraced by celebrities including singers Cardi B and Brandy and model Chanel Iman.
By the end of 2018, the line's bosses at LVMH announced the brand had racked up $550 million (£394million) in annual revenues, well outpacing other celebrity cosmetics companies such as Kylie Jenner's Kylie Cosmetics and KKW Beauty from Kim Kardashian.
Fenty Skin debuted last year and Rihanna recently teased that Fenty Parfum is next.
The star's Savage X Fenty lingerie line, in which she has a 30 per cent stake, is also worth $1 billion.
But RiRi's new endeavor was not without a hurdle.
Earlier this year, the Bajan singer/songwriter was forced to shut down her Fenty fashion line amid Covid-19 pandemic after less than two years in production. The label was put on hold "pending better conditions."
