Oprah Winfrey Now Second Richest Female Entertainer Worldwide
Following Pop Star Success, Big Earnings as Beauty Brand Entrepreneur
[Asia Economy Reporter Hyunwoo Lee] Rihanna, the famous American pop singer, has become the wealthiest female musician worldwide. Her estimated net worth approaches 2 trillion Korean won. Along with her success in music and acting, she has become a billionaire thanks to the huge profits from her eponymous cosmetics brand.
On the 4th (local time), the American business magazine Forbes reported in an article titled "Rihanna, Now Officially a Billionaire" that "Rihanna has become the richest female musician on the planet." According to Forbes, Rihanna's fortune is estimated at $1.7 billion (approximately 1.9448 trillion Korean won). She ranks first in net worth among female musicians worldwide and is second among female celebrities globally, following American broadcaster Oprah Winfrey, Forbes reported.
Rihanna, originally from the Caribbean island nation of Barbados, achieved success as an American pop singer through her albums and acting. She became a billionaire after her cosmetics brand "Fenty," founded in 2015, achieved great success. Based on Fenty, Rihanna subsequently established the makeup brand "Fenty Beauty" and the lingerie brand "Savage x Fenty."
Recognizing the brand's value, "Fenty" partnered with the French fashion company Louis Vuitton Mo?t Hennessy (LVMH) in 2017. Particularly, Fenty Beauty, which sells color products matching dozens of skin tones, gained great popularity in the U.S., recording sales exceeding $550 million in U.S. cosmetics stores alone in 2018.
Forbes explained, "The value of the Fenty Beauty brand is at least $2.8 billion, and Rihanna owns 50% of the company’s shares." It added, "She also owns about $85 million worth of shares in the lingerie brand, estimated at $1 billion." Forbes stated that considering these equity values alone, her assets are estimated to be at least $1.7 billion.
Rihanna has also enjoyed global popularity as a pop star. Her first full-length album released in August 2005 reached number 10 on the Billboard 200 chart. In 2007, her song "Umbrella" topped the Hot 100 chart for seven consecutive weeks; in 2011, "We Found Love" held number one for eight consecutive weeks; and in 2016, "Work" stayed at number one for nine consecutive weeks.
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