Singer Rihanna is officially a billionaire, Forbes says By Reuters

Singer Rihanna is officially a billionaire, Forbes says

Stock MarketsAug 04, 2021 02:20PM ET

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Singer Rihanna is officially a billionaire, Forbes says

© Reuters. FILE PHOTO: Pop superstar Rihanna poses in a pop-up store to present her first collection with LVMH for the new label, Fenty, which includes ready-to-wear and accessories, such as shoes, sunglasses and jewellery, Paris, France May 22, 2019. Picture taken

(Reuters) -Pop star Rihanna's net worth is estimated at $1.7 billion, making her the richest woman musician in the world, but her music is not the primary source of her wealth, Forbes magazine said on Wednesday.

The Barbados-born singer, whose birth name is Robyn Fenty, derives an estimated $1.4 billion of her fortune from her 50% stake in the Fenty Beauty cosmetics line, Forbes reported.

The rest of Rihanna's wealth comes from her share of the Savage x Fenty lingerie company and her income as a singer and actress, the magazine said.

Rihanna's beauty company, of which LVMH owns the other half, is known for its broad range of 50 skin tones, including dark shades for women of color, 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.

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