Rihanna has reportedly made financial gains that put her in a very exclusive club. According to Forbes, the singer/philanthropist/businesswoman has reached billionaire status, largely due to her efforts outside of releasing music. The outlet reported she is now worth an estimated $1.7 billion, making her the wealthiest female musician globally and ranked right under Oprah for wealthy women in entertainment.
Fenty Beauty, the “Work” singer’s namesake cosmetics company is the source of the bulk of her net worth. The company, which Rihanna owns 50 percent of, is reportedly responsible for an estimated $1.4 billion of the aforementioned total. Her lingerie and loungewear brand Savage X Fenty also adds substantial value with an estimated worth of $270 million. According to the report, she has 30 percent ownership of the fashion brand. The remainder of Rihanna’s fortune is due to her success as a Grammy Award-winning musician, occasional actress, and other business ventures.
Since 2005, the Bajan beauty has worked tirelessly to grow her bank account, still every step of the way, she has also donated time and money to charitable causes. Variety reported in 2020, the ANTI artist was honored at the NACCP Image Awards with the President’s Award. She was recognized for her efforts with her own Clara Lionel Foundation, as well as Raising Malawi and UNICEF. While accepting her award, she challenged her rich and famous peers to give back.
“Thank you. And thank you to the staff, board, and community of the NAACP, including all of you guys here in this room and everyone at home watching who’s devoted their lives and efforts toward supporting people of color,” she said in her acceptance speech. “OK, I’m going to try to keep this simple because tonight is not really about me because the purpose is bigger than me, right?”
The 33-year-old continued, “I’m lucky I was able to start the Clara Lionel Foundation in 2012. And if there’s anything that I’ve learned is that we can only fix this world together. We can’t do it divided. I cannot emphasize that enough. We can’t let the de-sensitivity seep in. The, ‘If it’s your problem, then it’s not mine; it’s a woman’s problem; it’s a Black people problem; it’s a poor people problem.’”
Throughout her career, Rihanna has released multiple fashion collections and taken advantage of countless branding opportunities. She emerged onto the scene more than 15 years ago with her debut album Music Of The Sun and an additional seven albums later has become a global icon and force in fashion and beauty.
The multihyphenate mogul recently announced a new project, a unisex fragrance for Fenty Beauty, which she described as “a memory, encapsulated into a fragrance.”