by Ms. Black Hollywood
Beyonce may be a bigger name in the entertainment world, but Rihanna’s got bigger bank. Forbes Magazine is making some hip hop singers very happy this week. First, the magazine lists JayZ as Hip Hop’s first billionaire…now, Rihanna gets named as the top-earning female singer.
Forbes says the 31-year old “Work” singer is working it to the tune of $600 million making her the “World’s Richest Female Musician”. That ranks Rihanna $200 million more than Beyonce…$150 million above Celine Dion and $30 million more than Madonna.
While hit songs like “Umbrella”, “We Found Love”, “Rude Boy” and “Take A Bow” started her on the road to riches, beauty has taken her over the top. Forbes says, “Most of that comes not from music but from her partnership with LVMH, the French luxury goods giant run by billionaire Bernard Arnault“–and Fenty makeup brand which Rihanna co-owns with LVMH. According to Forbes, when the line launched two years ago it quickly became a viral success racking up “a reported $100 million in sales in its first few weeks, propelled by Rihanna’s fame and 71 million Instagram followers.”
Social media played a big part in promoting the beauty brand. Twitter, IG, Youtube and other social media platforms helped Rihanna reach her target audience made up of many of her music fans.
Since many of those music fans are young ladies still working their way to successful careers, the beauty products are low on price while remaining high on quality.
Few could have foreseen this kind of wealth and power for the Bajan singer who grew up in poverty and with a drug-addicted father. Her career hit a major P.R. nightmare in 2009 with her highly publicized assault at the hands of then-boyfriend Chris Brown. The singer managed to weather the storm and got her career back on track with a vengeance.
She’s not finished yet. The singer recently announced her beauty brand is expanding by adding a new clothing house that will sell high-end clothes and shoes as well as all the accessories including jewelry.