It’s time to add another Black musician to the billionaire list.
Rihanna has officially been added to the billionaire club, according to Forbes. The 33-year-old is said to have $1.7 billion in the stash, with most of her riches having near nothing to do with her decade-long music career. Though music is what initially created her rise to fame back in 2005 with Pon De Replay, her wealthiness is mostly because of her genius business mind.
“The bulk of her fortune (an estimated $1.4 billion) comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50%. Much of the rest lies in her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress,” reports Forbes.
While many celebs have tried their hand at makeup lines, Rihanna was so successful because she made sure to be inclusive and aid in a struggle that many women of color face– lack of proper shades.
“A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium-dark, dark,” says Shannon Coyne, co-founder of consumer products consultancy Bluestock Advisors. “We all know that’s not reality. She was one of the first brands that came out and said, ‘I want to speak to all of those different people.’”
Oh, and the only female entertainer who’s richer than Rihanna is Oprah. Salute.