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Singer Rihanna hits billionaire status, now wealthiest female musician

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Barbadian recording artiste, Rihanna is now worth $1.7 billion.

This is according to the financial magazine Forbes.

The music star has now joined the billionaire league following the success of her cosmetic company, Fenty.

According to Forbes, she is now the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.

“The bulk of her fortune (an estimated $1.4 billion) comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50%,” Forbes said in its latest editorial.

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“Much of the rest lies in her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress.

Meanwhile, her fashion brand, Fenty beauty line is now worth $2.8 billion.

Fenty Beauty, which was launched in 2017, is a 50-50 joint venture with French luxury goods conglomerate LVMH (run by Bernard Arnault, the world’s second-richest person).

The music star’s other businesses including her lingerie and perfume lines are said to be raking millions of dollars.

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