Rihanna is now the richest Black female musician — and the second-richest Black female entertainer — in the world.
That’s thanks to her appearance on the Forbes Billionaire list for the first time. According to the outlet, Rihanna has an estimated net worth of $1.7 billion. The Savage X Fenty founder — who, according to CNBC, derived the vast majority of her wealth from her non-musical career — is not only the world’s wealthiest Black female musician but the world’s wealthiest female musician. She is also the second-richest Black female entertainer in the world (Oprah Winfrey, with an estimated net worth of $2.7 billion, surpasses the woman born Robyn Fenty in Barbados).
CNBC also reports that her beloved beauty brand has achieved unicorn status — that is, has a valuation of more than a billion dollars — which will only further add to her net worth in the future.
“Fenty Beauty — which comes from the singer’s last name — is currently valued at about $2.8 billion, and was founded in 2017 by luxury goods giant LVMH. Rihanna also owns Fenty Skin and the lingerie line Savage X Fenty, which is worth $1 billion,” reports the outlet.
And that’s not all.
As AfroTech previously reported, a recent filing by the company suggests that Rihanna and other members of the board are considering an IPO (initial public offering) to take the company public. If they succeed in doing so, the valuation of Savage X Fenty could jump to a staggering $3 billion.
“The business maven has been “working with advisers on an initial public offering” that could possibly take Savage X Fenty to a valuation of $3 billion or more. The banks that her company is said to be working with is Goldman Sachs Group Inc. and Morgan Stanley,” read our report.
However, as of this writing, nothing has been officially confirmed by the newly-minted billionaire.
Rihanna made the Forbes Billionaires List for the first time
As AfroTech previously reported, Rihanna is one of only a handful of Black men and women on the Forbes Billionaire list. Though this is the first time the “Umbrella” singer has landed on the Forbes Billionaire list, it won’t be the last.
Other Black entertainers who made the list include Tyler Perry, Kanye West, and Rihanna’s former mentor Jay-Z.
Bernadette Giacomazzo is the SEO Manager at Blavity, Inc. She is also a NYC-based editor, writer, photographer, and publicist with a career spanning more than two decades in the entertainment industry. Her work has been featured in People, Teen Vogue, BET, HipHopDX, XXL Magazine, The Source, Vibe, The Los Angeles Times, and more. Giacomazzo is also the author of The Uprising Series and is the CEO of G-Force Marketing & Publicity, which has been featured in The Hollywood Reporter and has obtained film, television, radio, and print placements for blue-chip clients all over the world. She will release "In Living Color: A Cultural History" on Rowman & Littlefield Press in February 2023, and "The Golden Girls: A Cultural History" on Rowman & Littlefield Press in August 2023.
