Worldnews day

Forbes declares Rihanna the richest female musician

179

 

American musician Robyn Fenty popularly known as Rihanna becomes a billionaire and the richest female musician in the world. Rihanna is now worth $1.7 billion according Forbes estimate.

The Barbados-born singer earned this title not only through her music career but through her beauty brand.The beauty line helped her enter one of the world’s most exclusive ranks: Billionaire.

She launched Fenty Beauty in 2017, she sought to create a cosmetics company that made “women everywhere (feel) included”.

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.

Rihanna also capitalized 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.

Fenty Beauty isn’t Rihanna’s only billion-dollar brand. In February her lingerie line Savage x Fenty raised $115 million in funding at a $1 billion valuation. The company, which launched in 2018 as a joint venture with TechStyle Fashion Group.
Rihanna maintains a 30% ownership stake, Forbes estimates.

Oprah Winfrey as the richest female entertainer is now second to Rihanna.

 

S.I/Forbes

Leave A Reply

Your email address will not be published.

%d bloggers like this: