Rihanna has officially reached billionaire status, according to a new report from Forbes.
It has been a great sight to see for urban artists finally reaching that elusive group. Until now, only JAY-Z and Kanye West were apart of this group with their rags to riches background. A person who they have both collaborated with as solo and as “Watch The Throne” has joined the billionaire club: Rihanna. Forbes reports that musician and entrepreneur Robyn Fenty is officially worth $1.7 billion dollars, making her the highest-paid female artist and the second-highest-paid female entertainer; in that category, Oprah Winfrey holds a hefty lead.The report notes that a substantial bulk of the Barbadian pop princess net worth is due to her 50% ownership stake in Fenty Beauty, which counts for around $1.4 billion dollars. Forbes explains that Fenty Beauty is currently worth $2.8 billion dollars, with no sign that the company will slow down in the future. Her Savage x Fenty lingerie company makes up an additional $270 million, with Forbes reporting that she holds a 30% stake; in an interesting connection, JAY-Z’s Marcy Venture Partners investment firm also holds shares in the company. Run This Town indeed.Though competition was fierce, Rihanna’s Fenty Beauty was able to gain ground over competitor companies like Kylie Jenner’s Kylie Cosmetics and Kim Kardashian West’s KKW Beauty in its first fiscal year. Considering all of the significant strides she has made in the fashion industry, it’s no wonder her long-sought R9 project (Skepta recently expressed interest in producing) has been placed on a seemingly indefinite hold. It is now more than just a song that Rihanna, JAY-Z, and Kanye West really do run this town as they illustrated in this music video below.
Congratulations to Rihanna for achieving this impressive financial milestone. Check out the full report from Forbes right here.