Rihanna Named World’s Richest Female Musician, Net Worth Revealed

Pop star, Rihanna has been declared the richest female artist on the planet by Forbes with a staggering $600 million in fortune, beating veteran singer, Madonna ($570 million), Celine Dion ($450 million) and Beyoncé ($400 million).

Rihanna’s fortune was accrued from her move into fashion and partnership with French luxury goods giant LVMH. Their collaboration on Fenty Beauty — which launched in September 2017 at LVMH-owned Sephora — was an out-of-the-box success, with the brand racking up a reported $100 million in sales in just its first few weeks.

In addition to tapping into her massive social media presence, the singer has also taken great strides to be inclusive with the Fenty Beauty offerings, releasing 40 different shades of foundation in what one analyst told the magazine was a potential shock to the traditional beauty system.

“It challenged the standard convention that you only needed a very defined set of shades to satisfy a market,” Jefferies research analyst Stephanie Wissink said. “Not only did [Fenty Beauty] achieve meaningful sales, but it potentially changed the industry permanently.”

After just 15 months in business, Fenty Beauty has reportedly racked up $570 million in sales, with the business worth an estimated $3 billion for LVMH, which owns a reported 50% of the company to Rihanna’s estimated 15%, a figure her team would not confirm.

Meanwhile, in the male department, business mogul and rapper J-Z has been recognized as the first rapper to hit 9-figures. Yes, he is officially a billionaire!

 

Additional text from Billboard was used in this story.

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