LOS ANGELES, CALIFORNIA – OCTOBER 1: In this image released on October 1, Rihanna attends the second press day for Rihanna’s Savage X Fenty Show Vol. 2 presented by Amazon Prime Video at the Los Angeles Convention Center in Los Angeles, California; and broadcast on October 2, 2020. (Photo by Kevin Mazur/Getty Images for Savage X Fenty Show Vol. 2 Presented by Amazon Prime Video)

She’s always been the undisputed queen of cool, but Rihanna has officially received a new title: billionaire. The 33-year-old musician and fashion and beauty mogul is worth a reported US$1.7 billion (approximately AU$2.3 billion) according to Forbes, with the bulk of her wealth due to the star’s feverishly popular Fenty Beauty cosmetics line. The publication estimates that of the total amount, US$1.4 billion can be attributed to her 50 per cent ownership of Fenty Beauty, which is stocked globally by the likes of Sephora.

The brand, which first hit shelves back in 2017, is credited with changing the entire beauty industry after launching with 40 foundation shades – something that was unheard of at the time, but has since become an unofficial industry benchmark. Rihanna’s ethos was to offer a range that catered to all skin types and tones, which has been reflected throughout Fenty Beauty’s expansive offering in subsequent years.

“I want all women to feel great,” the star told E! News of her vision for Fenty Beauty. “We are women, and we have challenges. We deserve to feel beautiful, and I want women of all shades to feel included and all races and all cultures to be a part of this. That’s really what was important to me [when] choosing the shades and how many we were going to make, especially with the foundation. It’s a fun situation and I want all women to have a piece and take part of this.”

Beyond makeup, the brand soon went into skincare, bodycare and recently released its first fragrance. Next up is rumoured to be haircare, after the company trademarked a number of terms in relation to ‘Fenty Hair’. Forbes reports that in 2018, Fenty Beauty generated more than US$550 million in sales, outperforming fellow billionaire Kylie Jenner’s Kylie Cosmetics and Kim Kardashian’s KKW Beauty.

Of course, Rihanna also has her extremely successful music career – although she hasn’t released an album since ANTI in 2016 – her recent acting roles, and the fashion arm of her Fenty brand, Savage x Fenty, of which she retains a 30 per cent stake.

Her massive earnings make her the wealthiest female musician in the world and the second richest woman in entertainment. The first? Well, that would be Oprah – so it’s truly icons only. We love to see it!