Billionaire status has become the desired endgame for many prominent society people including musicians, although it’s not easy to achieve. Until now, Watch The Throne alumni JAY-Z and Kanye West were among the very few to achieve the massive financial milestone. However, another contender – who happens to be a frequent collaborator of both Hov and Yeezy, Rihana has joined the billionaire club.
According to Forbes, the Bajan musician and entrepreneur Robyn Fenty is officially worth $1.7 billion dollars, making her the highest-paid female artist and the second highest-paid female entertainer; in that category. Oprah Winfrey holds a hefty lead.
The report notes that a substantial bulk of Rihana’s net worth stems from her 50% ownership stake in Fenty Beauty, which counts for around $1.4 billion dollars. Forbes also explains that Fenty Beauty is currently worth $2.8 billion dollars, with no sign that the company will slow down in the future. Her Savage x Fenty lingerie company makes up an additional $270 million, with Forbes reporting that she holds a 30% stake; in an interesting connection, JAY-Z’s Marcy Venture Partners investment firm also holds shares in the company.
Though competition was fierce, Rihanna’s Fenty Beauty was able to gain ground over competitor companies like Kylie Jenner’s Kylie Cosmetics and Kim Kardashian West’s KKW Beauty in its first fiscal year. Considering all the significant strides she has made in the fashion industry, it’s no wonder her long-sought R9 project (Skepta recently expressed interest in producing) has been placed on a seemingly indefinite hold. Not that Rihanna’s bottom line will suffer as a result, as the beauty entrepreneur is richer than she’s ever been after all.
Congratulations to Rihanna for achieving this impressive financial milestone. Check out the full report from Forbes right here.