Robyn Fenty, better known as Billionaire RiRi, was declared the world’s wealthiest woman musician, with an estimated worth of $1.7 billion.
Work, work, work, work, work, work is not the only secret sauce behind Rihanna’s induction into the billionaire club.
According to a profile about her fortune in Forbes, RiRi, 33, has her Fenty Beauty company to thank for a majority of her wealth. Launched in 2017, the Roc Nation artist has $1.4 of her $1.7 billion worth attributed to her cosmetics and lingerie apparel line.
A catalog of her hits dating back to the early 2000s also accounts for her massive wealth, the magazine estimates, which makes her the wealthiest woman musician in the world. And in terms of entertainment as a whole, she’s no. 2 in the world, just behind Oprah Winfrey, as the richest woman entertainer.
With Fenty, Rihanna owns 50% of the business while she also has a stake in Savage X Fenty, which Forbes estimates as being worth north of $270 million. The other half of Fenty Beauty is split with LVMH, a luxury goods company in France run by Bernard Arnault, the world’s second-richest person. The latter recently acquired a stake in Virgil Abloh’s Off-White brand for an undisclosed sum.
“She was one of the first brands that came out and said, ‘I want to speak to all those different people,” Shannon Coyne, co-founder of Bluestock Advisors, said of the star.
In lieu of another album—which fans are still clamoring for—the singer-turned-billionaire-entrepreneur looks to continue the “Fenty Effect” with an expanded range in the premium beauty market.