Rihanna named richest female musician in the world

U.S. & World

Rihanna is now the worlds richest female musician.

The 31-year-old Barbados native, whose real name is Robyn Rihanna Fenty, has amassed a $600 million fortune, surpassing Madonna by $30 million, Celine Dion by $150 million and Beyonce by $200 million — the runners-up on the magazine’s annual list, according to CNN.

While Rihanna is known for hits like Umbrella and Diamonds, her music is not her only source of revenue.

Her wealth is thanks in part to her “Fenty Beauty” cosmetic company, which raked in an estimated $570 million last year alone.

Rihanna co-owns Fenty Beauty with French luxury goods company LVMH that owns the likes of Christian Dior, Givenchy and Louis Vuitton, according to CNN.

Last month, the Barbadian star launched her fashion label Fenty at a pop-up boutique in Paris, becoming the first black woman to create an original brand with LVMH, according to CNN.

Fenty is just the latest of Rihanna’s business ventures, joining her lingerie label Savage X Fenty, which she launched last year, and her cosmetics brand, Fenty Beauty, set up in 2017, according to CNN.

Fenty Beauty generated an estimated $570 million in revenue last year, after only 15 months in business, according to Forbes. The entire operation is worth, conservatively, more than $3 billion. LVMH owns an estimated 50% of it, while Rihanna has about 15%, a figure a spokesperson for the artist disputed but wouldn’t clarify further, Forbes estimated.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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