Lifestyle Style Rihanna Is Now a Billionaire Thanks to Her Fenty Empire The multi-hyphenate singer and entrepreneur makes her mark as one of the wealthiest entertainers in the world By Kaitlyn Frey Kaitlyn Frey Instagram Twitter Assistant Style & Beauty Editor, PEOPLE People Editorial Guidelines Published on August 4, 2021 12:26 PM Share Tweet Pin Email Rihanna. Photo: Dimitrios Kambouris/Getty Rihanna is a billionaire! The multi-hyphenate musician, fashion designer and beauty mogul, 33, has joined the ranks of the ultra-wealthy, says Forbes, which reports that the star's net worth is an estimated $1.7 billion. Rihanna's impressive earnings secure her spot as the wealthiest female musician in the world. She's also now the second-wealthiest female entertainer — right behind the one-and-only Oprah Winfrey, Forbes reports. While Rihanna's wealth makes her the richest female musician, it's her fashion and beauty businesses that make up the largest chunk of her earnings. Forbes estimates that about $1.4 billion of Rihanna's wealth comes from her 50% stake in Fenty Beauty, which Rihanna launched in Sept. 2017 to high praise. Since first introducing her shade-inclusive makeup brand, Rihanna later expanded into Fenty Skin and now, a soon-to-be-launched Fenty fragrance. Dimitrios Kambouris and Anna Webber, Getty Images Another portion of Rihanna's wealth (Forbes approximates $270 million) comes from her size-inclusive lingerie line, Savage X Fenty, which the star debuted in 2018. Rihanna Turns Up the Heat Modeling Sexy Lace Lingerie from Her Savage X Fenty Line In Feb. 2021, Forbes reported that the company is now worth $1 billion. The company recorded revenue growth of more than 200% last year. It also "increased its active VIP member base by more than 150%," the company said in a statement to WWD. The Savage X Fenty billion-dollar valuation came just days after Rihanna announced that she and French luxury conglomerate LVMH Moët Hennessy Louis Vuitton mutually agreed to pause her Fenty ready-to-wear label to focus on the Savage line. Rihanna and LVMH Agree to Put Fenty Fashion House on Pause "LVMH and Rihanna reaffirm their ambition to concentrate on the growth and the long-term development of the Fenty ecosystem focusing on cosmetics, skin care and lingerie," LVMH and Rihanna said in a statement to WWD. Rihanna/Instagram The singer turned fashion and beauty mogul made history when she inked a deal with LVMH in May 2019, becoming "the first woman to create an original brand at LVMH and the first woman of color at the top of an LVMH maison," The New York Times reported While Rihanna has been busy at work on her other business ventures, earlier this year she revealed her plans to go back to her roots (music!) very soon. In March 2021, the singer teased the possibility of a new song coming "soon" as she celebrated her album Anti becoming the first by a Black female artist to spend five years on the Billboard 200 chart. Rihanna posted a video of the announcement on Instagram writing in the caption: "grateful to the most High for putting die hard supporters in my circle 🙏🏿 #Anti#WomensHistoryMonth 💪🏿congrats to everyone that contributed to this era, thank you team." In January, Rihanna celebrated the five-year anniversary of Anti's release with a series of posts she shared on Instagram, including a video montage from some of her music visuals. Anti was Rihanna's eighth studio album — and last thus far, as her fans continue to anticipate the nine-time Grammy-winner's next release. The Grammy-nominated album has seen incredible success since it came out in 2016, earning the No. 1 spot on the Billboard 200 album chart, garnering more than 15 billion streams and selling more than 11 million copies. Fan-favorite songs on the album include "Work," "Needed Me," "Kiss It Better" and "Sex with Me."