Iconic Barbadian singer and fashion designer, Rihanna has officially reached billionaire status as she is reportedly worth $1.7 billion, Forbes reports.
According to the Forbes report, the 33-year-old singer is now the richest female musician and just behind the famous TV presenter, Oprah Winfrey, as the second richest artist in the world.
Rihanna is said to have amassed most of her fortune from her cosmetic company, Fenty Beauty, which she named her Passion Project at the time of its launch in 2017.
Read the official statement Forbes shared on its official Instagram page below,
“When Robyn Fenty, known to the world as Rihanna, launched Fenty Beauty in 2017, she sought to create a cosmetics company that made “women everywhere (feel) included.” A perhaps unintended consequence: The beauty line has helped her enter one of the world’s most exclusive ranks: Billionaire. Rihanna is now worth $1.7 billion, Forbes estimates—making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.
But it’s not her music that’s made her so wealthy. The bulk of her fortune (an estimated $1.4 billion) comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50%. Much of the rest lies in her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress.
While Barbados-born Rihanna isn’t the only celebrity to capitalize on her social media presence —she has 101 million followers on Instagram and 102.5 million on Twitter—to build a beauty brand, she is the most successful beauty entrepreneur to do so.”
See the post below,
In other news, Rihanna, and her rapper boyfriend, ASAP Rocky, were reportedly denied entry into a club in New York last night.
The couple was believed to have been denied entry into the New York club because bouncers at the venue claimed they were not familiar with their celebrity status.
The securities at the New York City bar insisted on seeing their ID before they could gain entry into the club and unfortunately they had none with them.
In videos from the scene serving rounds on social media a woman’s voice can be heard yelling, “I don’t know who you are,” and a male voice is later heard saying, “You don’t get none of your business cards on you, boy?”…(Continue reading)