Rihanna, the award-winning Barbadian singer, is now officially a billionaire with an estimated net worth of $1.7 billion, according to Forbes magazine.

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In a blog post on Wednesday, the magazine said the feat makes the singer, born Robyn Fenty, the richest female musician in the world.

The magazine added that it also makes her the second wealthiest female entertainer in the world after Oprah Winfrey, American media executive.

Forbes, however, explained that the majority of Rihanna’s wealth did not come from her music, adding that an estimated $1.4 billion of her fortune came from Fenty Beauty, her cosmetics brand.

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It revealed that the music star owns 50 percent of Fenty Beauty, which she launched in 2017, and is currently “worth a conservative $2.8 billion.”

The magazine added that the rest of her wealth “comes from 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.”

According to Forbes, the ‘Work’ crooner’s ability to leverage on her social media presence has also contributed to the growth of her success as an entrepreneur.

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“While Barbados-born Rihanna isn’t the only celebrity to capitalise on her social media presence —she has 101 million followers on Instagram and 102.5 million on Twitter—to build a beauty brand, she is the most successful beauty entrepreneur to do so,” it said.

In May, the spotlight had beamed on the singer after A$AP Rocky, American rapper, confirmed that they are dating.



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