Forbes says that R&B star Rihanna’s clothing and makeup line Fenty has made her “the wealthiest female musician in the world.”
In an article published Wednesday, the business magazine said the Barbados-born singer and actress is now worth $1.7 billion, putting her second behind only media mogul Oprah WinfreyOprah Gail WinfreyCourt rules Prince Philip's will to remain sealed for 90 years Piers Morgan joining News Corp., will host new show on Fox Nation Royal family supports BLM movement, senior representative says MORE for the richest female entertainer title.
Of that fortune, $1.4 billion is fueled by Rihanna's cosmetic company, Fenty Beauty, according to Forbes, while her lingerie line, Savage Fenty, is worth $270 million.
Since its launch in 2017, Fenty Beauty, which puts a focus on inclusivity, has brought in more than $550 million in annual revenue, beating out fashion and cosmetic lines from other celebrities including Kim Kardashian WestKimberly (Kim) Noel Kardashian WestJudge approves Kanye's name change to 'Ye' Wokesters or felons: Whom would you hire? Kim Kardashian West knocks Kanye, Kris, sex tape, OJ Simpson in 'Saturday Night Live' hosting debut MORE, Jessica Alba and Kylie Jenner, Forbes reported.
Bluestock Advisors co-founder Shannon Coyne told Forbes that Rihanna's success with her beauty line comes down to consumers not previously having a cosmetic line that caters to them.
"A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark,” Coyne said. “We all know that’s not reality. She was one of the first brands that came out and said, ‘I want to speak to all of those different people.'"
The “Umbrella” singer, who hasn’t released an album since 2016’s "ANTI," had previously told that Forbes that she and French luxury goods conglomerate LVMH had to shut down their joint venture high-end house — also called Fenty — due to the ongoing COVID-19 pandemic.