Rihanna has officially reached billionaire status, according to a new report from Forbes.
Billionaire status has become the desired endgame for many prominent hip-hop superstars, though one that’s not quite so easily achieved. Until now, Watch The Throne alumni JAY-Z and Kanye West were among the lone two to achieve the massive financial milestone. Now, another contender — who happens to be a recurring collaborator of both Hov and Yeezy — 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.
Caroline McCredie/Getty Images
The report notes that a substantial bulk of Rih’s net worth stems from 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. Not that Rihanna’s bottom line will suffer as a result, as the beauty entrepreneur is, to quote the immortal wisdom Rick Ross, richer than she’s ever been.
Congratulations to Rihanna for achieving this impressive financial milestone. Check out the full report from Forbes right here.