Robyn ‘Rihanna’ Fenty, Barbadian singer and entrepreneur, has emerged the world’s wealthiest female musician, according to a new cover story by Forbes.
This is coming barely days after Jay Z, American rapper and business mogul, was named the first hip-hop artiste to attain billionaire status by the renowned business magazine.
The Barbados native’s position as the richest woman in music is also coming despite the fact that she has not released a new album in three years.
The gifted music star released ‘Anti’, her eighth and last studio album, on January 28, 2016. She, however, has been involved in a handful of collaborations.
Having amassed a $600 million fortune for herself compared to Jay-Z’s $1 billion, and evolved as a style and makeover icon, Rihanna is reportedly edging towards becoming “the first black woman in charge of a major luxury fashion house”.
Her position as the world’s richest vocalist is matched against the likes of Madonna, Celine Dion, and Beyonce who currently stand out with $570 million, $450 million and $400 million respectively.
Coupled with her fame, Rihanna’s partnership with LVMH, an American luxury goods conglomerate better known as Louis Vuitton, saw her ‘Fenty Beauty Make Up’ line rack up a reported $100 million in its first week of sales.
With its entire operation worth well over $3 billion, ‘Fenty Beauty’ amassed an estimated $570 million revenue in 2018. According to Forbes, Rihanna owns 15% while %50 shares go to LVMH.
“Not only did Fenty Beauty achieve meaningful sales, but it potentially changed the industry permanently. It challenged the standard convention that you only needed a very defined set of shades to satisfy a market,” said Stephanie Wissink, research analyst.
Rihanna also recently debuted her ‘Fenty Maison’, a new fashion line specialising in the production of high-end clothes, shoes, accessories, and jewelry. She was also acclaimed as the first woman to create an original fashion line with Louis Vuitton.
Having severally made headlines in recent times for her masterstrokes and well-demonstrated vibrance in making the rounds between music and business, there’s no doubt that Rihanna is finally living up to her 2016 dancehall hit ‘Work’.
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