(CNN) — Robyn “Rihanna” Fenty is officially a billionaire, according to Forbes.
The business magazine, which tracks and publishes data on the world’s richest people, reported Wednesday that the 33-year-old pop star’s estimated net worth is $ 1.7 billion, making her the woman. richest in the world of music and the second richest in the world of entertainment, behind Oprah Winfrey.
It’s been five years since the “bad girl” from Barbados released a new album: her immediate 2016 classic, “Anti,” spent 63 weeks on the Billboard charts. Instead, she has devoted her time to building her business empire through her Fenty Beauty makeup line and Savage x Fenty lingerie line.
Forbes estimates that Fenty Beauty alone is worth $ 2.8 billion. In 2018, the makeup brand, sold in Sephora stores, was generating more than $ 550 million in annual revenue, earning more than Kim Kardashian West’s KKW Beauty, Kylie Jenner’s Kylie Cosmetics and Jessica Alba’s Honest Company, it reported. Magazine.
Historically, women’s fashion and beauty brands have perpetuated Eurocentric and often unrealistic beauty standards. One of the keys to Rihanna’s success has been marketing products for women of all shapes, sizes and skin tones, according to Shannon Coyne, co-founder of Bluestock Advisors, a consumer products consultancy.
“She was one of the first brands that came out and said ‘I want to talk to all these different people,'” Coyne told Forbes. “Many women felt that there were no lines to suit their skin tone. There were light, medium, medium dark, dark lines. We all know that is not reality.”
Forbes reported that Rihanna also owns 30% of Savage x Fenty, which raised $ 115 million in February after being valued at $ 1 billion. LVMH CEO Bernard Arnault and rapper Jay Z are also major investors in the lingerie brand.
A spokesperson for Rihanna declined to comment.
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Rihanna is officially a billionaire, according to Forbes