#MoneyGoals! Rihanna is officially a billionaire

Singer and designer Rihanna is officially a billionaire.
Singer and designer Rihanna is officially a billionaire.
Image: Caroline McCredie/Getty Images for Fenty Beauty by Rihanna

American singer Robyn Fenty, affectionately known as Rihanna, has officially been declared a billionaire, according to Forbes magazine. 

At only 33 years of age, the Umbrella singer is estimated to be worth $1.7 billion by the prominent magazine— making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.  

While she has a catalogue of hits, Rihanna's billionaire status isn't all due to her career in music, it is all thanks to her Fenty Beauty company that she launched in 2017.

According to the popular magazine, the bulk of Rihanna's fortune, an estimated $1.4 billion, comes from her cosmetic line. It reported that the singer owns 50% of the business and also has a stake in her lingerie company, Savage X Fenty, which has an estimated worth of $270 million.

The report further revealed that Rihanna splits her cosmetic line with LVMH, a luxury goods company in France that is run by Bernard Arnault.