Rihanna has been named the wealthiest female musician in the world by Forbes.
This is contained in a report published on Tuesday by Forbes which estimated the musician’s fortune to worth $600 million, placing her above her counterparts Madonna ($570 million), Celine Dion ($450 million) and Beyoncé ($400 million).
The breakdown showed that Rihanna’s earnings tripled as a result of her partnership with LVMH, the French luxury goods giant run by billionaire Bernard Arnault.
Rihanna and LVMH co-own the makeup brand Fenty Beauty which was launched in September 2017.
Not only did the business quickly become a viral success, it also racked up a reported $100 million in sales in its first few weeks, propelled by Rihanna’s fame and 71 million Instagram followers. Forbes said Fenty Beauty generated an estimated $570 million in revenue last year, after only 15 months in business. The entire operation is worth, conservatively, more than $3 billion.
Forbes estimates that LVMH owns an estimated 50% of it, while Rihanna has about 15%, a figure a spokesperson for the artist disputed but would not clarify further.
The Barbados native, who overcame hardships including an abusive addict father and a well-publicised assault by then-boyfriend Chris Brown in 2009, also co-owns the Savage X Fenty lingerie line with Los Angeles-based online fashion firm TechStyle Fashion Group. She has millions in earnings from her career touring and releases as a singer, which make up the rest of her fortune. Her empire continues to grow.
In May, LVMH and Rihanna announced Fenty, a new clothing house that will make high-end clothes, shoes, accessories, and jewelry.