Forbes Names Rihanna World’s Richest Female Musician

Forbes Names Rihanna World’s Richest Female Musician

Forbes Names Rihanna World’s Richest Female Musician

At just 31, Rihanna has officially been named the world’s richest female musician by Forbes.

A new Forbes report published on Tuesday estimated the singer’s massive assets to be worth about $600 million, thereby placing her ahead of fellow music superstars as Madonna ($570 million), Celine Dion ($450 million) and Beyoncé ($400 million).

This is coming on the heels of the news that her early mentor Jay-Z has just become the first rap billionaire.

A breakdown indicated that Rihanna’s earnings tripled as a result of her partnership with LVMH, the French luxury goods giant run by billionaire Bernard Arnault.

Rihanna and LVMH co-own the makeup brand Fenty Beauty which was launched in September 2017.

Not only did the business quickly become a viral success, it also racked up a reported $100 million in sales in its first few weeks, propelled by Rihanna’s fame and 71 million Instagram followers.

Forbes said Fenty Beauty generated an estimated $570 million in revenue last year, after only 15 months in business.

The entire operation is worth, conservatively, more than $3 billion.

Forbes estimates that LVMH owns an estimated 50% of it, while Rihanna has about 15%, a figure a spokesperson for the artist disputed but would not clarify further.

The Barbados native, who overcame hardships including an abusive addict father and a well-publicised assault by then-boyfriend Chris Brown in 2009, also co-owns the Savage X Fenty lingerie line with Los Angeles-based online fashion firm TechStyle Fashion Group.

She has millions in earnings from her career touring and releases as a singer, which make up the rest of her fortune.

Her empire continues to grow. In May, LVMH and Rihanna announced Fenty, a new clothing house that will make high-end clothes, shoes, accessories, and jewelry.

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