Rihanna, worth $1.7 billion, named richest female musician in the world by Forbes

 

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Rihanna

Forbes Magazine has once again come up with its list of the richest in the world. Pop star Rihanna is officially the richest female musician in the world with an estimated net worth of 1.7 billion dollars. But her music is not the primary source of her wealth, Forbes magazine said on Wednesday. The magazine reports that the Barbados-born singer, whose real name is Robyn Fenty, derives an estimated 1.4 billion dollars of her fortune from her 50% stake in the Fenty Beauty cosmetics line.

Another source of her wealth is her share of the Savage x Fenty lingerie company and her income as a singer and actress.

Rihanna’s beauty company, of which LVMH (LVMH.PA) owns the other half, is known for its broad range of 50 skin tones, including dark shades for women of colour, which were rare when it launched in 2017. This made it a leader in inclusivity in the industry. The singer of “Umbrella” and “Love the Way You Lie” ranks second behind Oprah as the richest female entertainer, Forbes said.

Last year, American media personality and reality TV star Kylie Jenner was crowned as the highest-paid celebrity of 2020 by Forbes. Reportedly, the top-earning stars in the world earned a combined of USD 6.1 billion in 2020 with Kylie Jenner and Kanye West at the top of the list. Setting aside Kylie’s history with Forbes, the financial experts there calculated her earning this year to be at USD 590 million after she sold a majority of her beauty brand’s stake to Coty Inc.

Ranked at No. 2, on the list by making USD 170 million was American rapper and record producer Kanye West, who is also coincidentally Kylie’s brother-in-law.

(– with inputs from agencies)

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