SLUMSMAG STAFF: GREG LEWIS
Rihanna still reigns supreme!
According to Forbes, the superstar, Rihanna, has officially been named the wealthiest female musician in the world.
Rihanna, 31-years-old, has amassed a $600 million fortune, placing her ahead of fellow musicians such as madonna, Celine Dion and Beyonce.
But wait, it’s not Rihanna’s music sales that mostly contributed to her wealth. Instead, it’s her partnership with French luxury goods giant LVMH, who co-owns Fenty Beauty.
According to the Rap-Up, The makeup brand launched in September 2017 and became a viral success with a reported $100 million in sales in its first few weeks. After only 15 months, Fenty Beauty has reportedly generated an estimated $570 million in revenue and is worth more than $3 billion overall.
Whew, now we see why the Barbados singer has not released any new music. She is currently stacking up her money from her very successful makeup line.
Additionally, she co-owns her Savage X Fenty lingerie line with online fashion retailer TechStyle Fashion Group.
Rihanna also manage to earn millions from touring and record sales.
Riri doesn’t stop there! It was also reported that she recently became the first woman to create an original brand at LVMH and the first black woman at the top of an LVMH maison.
Rihanna is right on the heels of her ‘Billionaire’ mentor, Jay-Z.
On Monday, Forbes declared the Roc Nation mogul the first billionaire rapper with a fortune that includes liquor, real estate, and investments.