The 31-year-old, born Robyn Rihanna Fenty, has amassed her wealth through her music and multiple businesses. She co-owns her Savage X Fenty lingerie line with Los Angeles online fashion firm TechStyle Fashion Group. She also co-owns her makeup line, Fenty Beauty, with French-owned luxury good business LVMH.
The company made $100 million in sales in its first few weeks and has remained popular since, making $570 million in revenue last year, according to Forbes. It was also lauded for releasing 40 shades of foundation to be more available and representative for all skin tones and types.
“It challenged the standard convention that you only needed a very defined set of shades to satisfy a market,” Stephanie Wissink, a research analyst at Jefferies, told Forbes. “Not only did [Fenty Beauty] achieve meaningful sales, but it potentially changed the industry permanently.”
In May, LVMH and Fenty announced “Fenty,” a clothing house that will make luxury clothes, shoes, accessories and jewelry.
The "Umbrella" singer called the LVMH head, Bernard Arnault, “so enthusiastic” in an interview with The New York Times. She will be the first black woman to head a major luxury fashion house.
“They extended the offer to me and it was a no-brainer because LVMH is a machine,” she said.
Rihanna's title as wealthiest female musician beats out singers like Madonna, with an estimated $570 million fortune; Céline Dion, with an estimated $450 million, and Beyoncé, with an estimated $400 million.