Forbes: Rihanna is now a billionaire and the world’s wealthiest female musician.

Rihanna is now officially a billionaire and the wealthiest female musician in the world, according to Forbes.

The pop star is worth $1.7 billion (£1.2 billion), with her Fenty Beauty cosmetics company worth an estimated $1.4 billion.

The rest of her fortune is derived primarily from her lingerie company, Savage x Fenty, which is estimated to be worth $270 million, as well as her earnings from music and acting.

She is the world’s richest female entertainer, trailing only Oprah Winfrey.

Rihanna, real name Robyn Fenty, launched Fenty Beauty in 2017 in collaboration with luxury goods company LVMH.

At the time, she stated that the goal of the line was to appeal to “every type of woman,” and she launched 40 different foundation shades, which was largely unprecedented at the time. It resulted in the so-called “Fenty Effect,” in which rival brands expanded their make-up shade ranges.

According to LVMH, the line generated more than $550 million in annual revenue in its first year.

However, not all of Rihanna’s business ventures have been successful.

Earlier this year, the 33-year-old reached an agreement with LVMH to close her Fenty fashion label after less than two years in operation.

The Barbadian singer has sold over 250 million records worldwide but hasn’t released a studio album since Anti in 2016.

She was, however, recently seen filming a music video with her boyfriend, rapper A$AP Rocky.