Caribbean-born Superstar Rihanna Named Richest Female Musician by Forbes report

Superstar Rihanna Named Richest Female Musician

Rihanna, the pop superstar singer and fashion entrepreneur who was born in Barbados, has been named the world’s richest female musician by Forbes magazine. Rihanna has amassed a fortune totaling US$600 million. Rihanna, whose given name is Robyn Rihanna Fenty, has a fortune greater than that of other wealthy superstar female singers, including Madonna, Celine Dion, and Beyoncé. For comparison, Madonna’s wealth totals US$570 million, Celine Dion US$450 million, and Beyoncé US$400 million. Beyoncé is married to music mogul and entrepreneur Jay-Z, who was recently named the world’s first billionaire rap artist. Rihanna’s status places a new perspective on one of her best-known song lyrics: “work, work, work, work, work,” which introduced her dancehall hit “Work.”

Rihanna entered the music scene in 2003, and since then has been able to transform her success in music into an entrepreneurial space with the launch of her own make-up brand Fenty Beauty. Fenty Beauty is co-owned by LVMH, a French luxury powerhouse brand. The Fenty Beauty brand was introduced in 2017 via online operations and with Sephora, which is also well known in the luxury products sector. She is also the co-owner of the Savage X Fenty lingerie line, Rihanna’s fame online and offline has contributed to the success of her make-up line, bringing some US$570 million in revenue for 2918 after only 15 months of business. Most of Rihanna’s income comes from her musical releases and tours, however.

Rihanna entered into a historic partnership with LVMH in May 2019 through which a luxury fashion brand headquartered in Paris, France, will offer ready-to-wear clothing, shoes, and accessories. The fact that a black woman has launched a large-scale luxury line has created quite a stir in the fashion industry. The Fenty line is now positioned at the level of world renown brands like Dior, Louis Vuitton, Fendi, and Givenchy, all part of a conglomerate led by Bernard Arnaud.

Describing herself as a young black woman who embraces the ideas and energy of young people, Rihanna noted that this is what she is about: transforming these energies and ideas into luxurious things for the fashion house. She also said that she never expected to make so much money and that her fortune has come out of her doing what she loves to do. Along with her rise as a fashion industry powerhouse, Rihanna has provided hints that she will release a new reggae album in 2019.

Information and Photo source: 123rfForbes

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Stephanie Korney