The Barbados born singer and beauty queen, Robyn Fenty, known to the world as Rihanna has been crowned the new billionaire according to the Forbes Magazine.
Rihanna adds to the list of new black billionaires that includes Jay Z, Kanye west and Tyler Perry.
According to Forbes, Riri is now worth $1.7 billion, making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.
While Rihanna is known for her music, it’s her ventures in the fashion industry that has elevated her to the billionaire’s status. She owns 50% of the Fenty beauty and the Savage X Fenty lingerie line that focuses of plus size models.
Rihanna has 101M followers on Instagram and 102M on twitter, giving her unprecedented access to marketing of her fashion and beauty products. Fenty beauty entered a 50-50 joint venture with French luxury goods giant LVM, which is owned by Bernard Arnoult, the world’s second-richest person.
Fenty Beauty is estimated to be worth $2.8 billion according to Forbes.
Twitter welcomed the new billionaire with various reactions, one twitter user took note of the age when worlds billionaires became one.
Age when they became billionaires:
Jack Dorsey: 35
Jeff Bezos: 35
J.K. Rowling: 38
Mark Cuban: 40
Elon Musk: 41
Richard Branson: 41
Sheryl Sandberg: 44
Tory Burch: 46
Oprah Winfrey: 49
Michael Jordan: 51
George Lucas: 52
Warren Buffett: 56
Another twitter user opined “So happy for Rihanna. All things are possible. It’s really wonderful to see women of colour conquer and rise. Setting the bar for all women”.
At 33-year-old, Rihanna has plenty of years to cement his billionaire status and expand his business empire.
Congratulations to Robin Fenty. Keep Soaring higher.