Like a Diamond: Rihanna Is Officially Declared A Billionaire

Robyn “Rihanna” Fenty’s wealth has grown so much that Forbes has just announced that she is officially a billionaire.

The “Umbrella” singer and burgeoning entrepreneur is now officially worth $1.7 billion, according to estimates by Forbes magazine. The total net worth of Rihanna makes her the wealthiest female musician on this Earth and second only to the Queen of entertainment, Oprah Winfrey as the richest female entertainer.

As Rihanna has made her mark in the music world after being signed by another billionaire, Shawn “Jay-Z” Carter, her singing talent initially led her to the superstardom she has experienced. But, the bulk of her fortune is from her entrepreneurial efforts. Her stake in her company, Fenty Beauty, is worth an estimated $1.4 billion. And with her own lingerie company, Savage x Fenty, which is worth an estimated $270 million, plus her earnings from her career as a chart-topping musician and actress, it adds up to her being worth $1.7 billion.

“A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium-dark, dark,” says Shannon Coyne, co-founder of consumer products consultancy Bluestock Advisors. “We all know that’s not reality. She was one of the first brands that came out and said, ‘I want to speak to all of those different people.’”

The Barbadian singer, songwriter, fashion designer, actress, philanthropist, and businesswoman has the type of work ethic that anyone who claims to like working would be envious of her efforts. She appeared on the scene with her debut album Music of the Sun (2005) and followed up with her second offering, A Girl like Me (2006), but her career really took off with the release of her third release, Good Girl Gone Bad (2007).

The third album is where she abandoned her more Caribbean sound and trended into a more dance, pop, R & B album where her smash single, “Umbrella,” took on a life of its own. Good Girl Gone Bad received seven Grammy Award nominations and won Best Rap/Sung Collaboration for “Umbrella” in 2007. This started the successful runaway train that we know of today.

In December 2019, BLACK ENTERPRISE reported that Rihanna was worth an estimated $600 million. She was certified by Forbes that year as the wealthiest female musician in the world. More than a year later, Rihanna had made Forbes’ “Richest Self-Made Women Under 40” list for the first time. She has made $1.1 billion in under two years. Maybe this is why she hasn’t had time to record a new studio album!