Rihanna named richest female musician by Forbes

Rihanna’s Fenty business endeavors have officially made her the richest female musician in the world, according to Forbes announcedTuesday.

The 31-year old singer has accumulated a $600 million fortune, edging out other famous women in music including Madonna with $570 million, Céline Dion with $450 million and Beyoncé with $400 million.

Rihanna’s rise to the top was driven by her Fenty Beauty brand, which earned an estimated $570 million in revenue last year in just 15 months of business. The French luxury goods conglomerate LVMH co-own the makeup brand with Rihanna, with Forbes estimating the company to be worth $3 billion, and that LVMH owns an estimated 50% of the brand while Rihanna owns about 15%.

The singer’s fortunes will only likely grow over the next year, as the singer launches a new Fenty high-end fashion brand with LVMH, making her the first back woman to run a major luxury fashion house.

The new Fenty line launched with a pop-up in Paris on May 24 and became available on Fenty’s website on May 29, with Rihanna planning to release new products via innovative monthly drops, in which several new items at a time will be available exclusively online.

Since its 2017 launch, Rihanna’s Fenty Beauty collection has continued to disrupt the beauty industry since its launch in 2017, bringing in more than $500 million by the end of 2018 while challenging other brands to expand their range of offerings for consumers with different skin tones. Fenty Beauty launched with 40 foundation shades and has since expanded to over 50, now seen as a trailblazer within the industry for its inclusive offerings.

Read more at usatoday.com.