Forbes declares Rihanna a billionaire with a net worth of more than R24bn

Pop star Rihanna’s net worth is estimated at $1.7bn (about R24.7bn), making her the richest woman musician in the world, but her music is not the primary source of her wealth, Forbes magazine said on Wednesday.

The Barbados-born singer, whose birth name is Robyn Fenty, derives an estimated $1.4bn (about R20.3bn) of her fortune from her 50% stake in the Fenty Beauty cosmetics line, Forbes reported.

The rest of Rihanna’s wealth comes from her share of the Savage x Fenty lingerie company and her income as a singer and actress, the magazine said.

Rihanna’s beauty company, of which LVMH owns the other half, is known for its range of 50 skin tones, including dark shades for women of colour, which were rare when it launched in 2017. This made it a leader in inclusivity in the industry.

The Umbrella and Love the Way You Lie hitmaker ranks second behind Oprah Winfrey as the richest female entertainer, Forbes said.