Rihanna has officially been announced as the richest living female musician.
The 31-year-old artist who hails from the Caribbean island of Barbados has an estimated net worth of $600 million (approximately £472 million).
Rihanna has taken the lead of other pop stars including Madonna and Celine Dion as well as rumoured rival Beyoncé who is currently at a net worth of $400 million.
The news follows Rihanna’s success outside of music in the fashion and beauty world. Rihanna is currently seeing the global success of her makeup brand Fenty Beauty and recently released her luxury fashion label, Fenty, with the French Luxury Goods group Moët Hennessy Louis Vuitton.
This power move made Rihanna the first black woman to lead a house under the brand and the first woman to create an original brand for the group. Read more about this here.
On the launch of the line, Rihanna said, “Designing a line like this with LVMH is an incredibly special moment for us. Mr Arnault has given me a unique opportunity to develop a fashion house in the luxury sector, with no artistic limits.
“I couldn’t imagine a better partner both creatively and business-wise, and I’m ready for the world to see what we have built together”.
Rihanna’s big achievement comes after the announcement that Rihanna’s original mentor and industry friend Jay Z has become hip-hop’s first ever billionaire.
Jay Z beat out intense competition from the likes of Dr Dre, Puff Daddy and 50 Cent to accumulate billions of dollars and become the first artist from the genre to achieve this level of wealth.
For more on Jay Z’s billionaire status, read the news story right here on GRM Daily.