Rihanna Is Now the World’s Richest Female Musician, Thanks to Her Popular Fenty Beauty Line
- June 5, 2019
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Rihanna has been named the world’s richest female musician, but her fortune isn’t solely from her music.
The Barbados native, 31, has amassed her wealth in large part from her Fenty Beauty line, which she launched in 2017. The icon is worth $600 million, Forbes reported on Tuesday, putting her ahead of Madonna ($570 million), Celine Dion ($450 million) and Beyonce ($400 million).
Fenty Beauty, which Rihanna co-owns with the French luxury goods company LVMH, has become known for offering more inclusive shades of makeup than other brands, with 40 different options in foundation.
The brand brought in more than $100 million in sales in its first few weeks, according to Forbes. In 2018, the brand brought in $570 million in revenue, and the outlet estimates that Fenty is collectively worth more than $3 billion.
Rihanna has been lauded for bringing disruption to the beauty industry.
“Not only did [Fenty Beauty] achieve meaningful sales, but it potentially changed the industry permanently,” Jefferies research analyst Stephanie Wissink told Forbes.
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But the “Diamonds” singer isn’t limiting her empire to makeup alone and is poised to make similar waves in the fashion industry with her recently announced Fenty Maison line. Rihanna also co-owns the Savage X Fenty lingerie line.
Her new line, which is also part of LVMH, will produce clothes, shoes, accessories and jewelry.
The move makes Rihanna the first woman to start her own brand at LVMH and the first black woman to lead a fashion house at the company. Fenty is also the first new house to come out of LVMH since 1987, the New York Times reported in May.
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“Designing a line like this with LVMH is an incredibly special moment for us,” Rihanna said in a statement when the fashion house was announced.
“Mr. Arnault has given me a unique opportunity to develop a fashion house in the luxury sector, with no artistic limits,” she added. “I couldn’t imagine a better partner both creatively and business-wise, and I’m ready for the world to see what we have built together.”
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“big day for the culture,” the singer added in a tweet. “thank you Mr.Arnault for believing in this little girl from the left side of an island, and for giving me the opportunity to grow with you at @LVMH.”
“Everybody knows Rihanna as a wonderful singer, but through our partnership at Fenty Beauty, I discovered a true entrepreneur, a real C.E.O. and a terrific leader,” LVMH’s chairman, Bernard Arnault, said upon the announcement.
Still, Rihanna hasn’t turned away from her music. She’s been working on a reggae album, but the project is still untitled and a release date has yet to be announced.