Rihanna Net Worth 2021: How Did the Billionaire Became the World's Wealthiest Female Musician?
Rihanna, the multi-hyphenate, has just reached billionaire status.
The 33-year-old award-winning singer, whose real name is Robyn Fenty, has been declared by Forbes as a billionaire.
According to the magazine, Rihanna's new net worth this 2021 is $1.7 billion.
But what contributed to the "Work" hitmaker's newest milestone? It isn't just all thanks to her music catalog, whose hits date back to the early 2000s.
According to reports, Riri's new fortune comes from her 50% stake in her cosmetics line, Fenty Beauty, a joint venture between her brand and French luxury goods conglomerate Louis Vuitton, reportedly worth $2.8 billion now.
Fenty Beauty was launched in 2017 because Rihanna wanted to make everywhere feel included.
The cosmetics line became a leader in providing diversity in the makeup industry, becoming the first brand ever to launch 40 skin tone shades for all colors.
Riri put out her makeup line with Sephora and started to rake up sales, totaling $100 million over the course of its first few weeks since its launch.
She also explained that makeup is there for people to have fun with.
"It should never feel like pressure. It should never feel like a uniform."
By 2018, LVMH reported that Fenty Beauty made $550 million in annual revenues, crushing other cosmetics brands such as Kylie Jenner's Kylie Cosmetics and Kim Kardashian's KKW Beauty.
In less than four years, Fenty Beauty turned into a billion-dollar business and continues to grow even further.
Last year, Rihanna launched Fenty Skin. In under four months, the skincare line had sales of $30 million.
The "Umbrella" singer also has a stake in her successful lingerie line Savage x Fenty, worth $270 million.
Savage x Fenty is anticipated to be the market's leader by 2025, as they see revenue growth of more than 200% last year. This is also under LVMH.
However, the clothing line was recently put on hold.
In a joint statement last month, Riri and LVMH said, "Rihanna and LVMH have jointly made the decision to put on hold the RTW activity, based in Europe, pending better conditions."
Rihanna can also credit her music career and acting for her new net worth this 2021.
Though she hasn't released anything since 2016, "ANTI," Riri's accumulated fortune dates back to 2005.
She sold over 250 million records worldwide and is one of the most successful recording artists of all time.
Rihanna also ventured into the acting world, appearing in "Ocean's 8" and "Valerian and the City of a Thousand Planets."
The "You Da One" hitmaker also has massive power in social media, with over 103 million Instagram followers.
Rihanna is the second wealthiest entertainer globally, just behind Oprah Winfrey, who is worth $2.7 billion.