Tuesday, December 5, 2023

Rihanna Declared Wealthiest Female Musician

rihanna declared wealthiest female musician

Bajan Pop Star Rihanna has been named as the wealthiest female musician by Forbes Magazine.

The music icon is currently worth a whopping US$600 million according to Forbes.

With her fans demanding a new album the artist is understandably building her business empire. The artist has branched into lingerie, lipstick, makeup and luxury fashion.

With her business empire growing over the last couple of years, Rihanna is still one of the top selling artists on the globe currently, despite having released her last album in 2016.

It’s not just record or concert sales that Riri’s wealth relies on. More so, it’s the artists partnership with French luxury goods giant LVMH, who co-own Fenty Beauty. The brand launched in September 2017 and was a huge success with revenue of US$100 million in the first few weeks. Fifteen months on, Fenty Beauty has reportedly generated an estimated $570 million in revenue in the past year, and the brand is now worth an estimated US$3 billion.

In addition, Rihanna co-owns Savage X Fenty lingerie line with online fashion retailer TechStyle Fashion Group and has earned millions from touring and record sales.

In May, Rihanna launched her Fenty fashion house in partnership with LVMH. She became the first woman to create an original brand at LVMH and the first black woman at the top of an LVMH maison(house). Rihanna and LVMH will eminently  start putting out clothes, shoes, jewelry, and other accessories.

Rihanna managed to beat off superstars like Madonna, netting $570 million, Celine Dion with $450 million, and Beyonce who is worth $400 million.

Lets hope this is just the beginning for Rihanna, as Forbes predicted that she would be a billionaire by her mid-30s.

Rihanna is fast approaching her mentor JAY-Z. Forbes recently declared the Roc Nation mogul the first billionaire rapper with a fortune that includes liquor, real estate, and investments.

Next up…. That reggae album!

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