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  • Writer's pictureVolume 82 Magazine

Rihanna Steps Down as CEO of Savage X Fenty: Fenty Made Her the Wealthiest Female Musician Worldwide

Rihanna/@badgalriri (Instagram)

Rihanna resigned as CEO of her lingerie brand Savage X Fenty. Forbes reportedly valued the company at $1 billion in 2021 after being founded in 2018. However, according to Fox Business, the songstress will remain hands-on with the company as executive chair. Fox Business also reported that "Former Anthropologie Group CEO, Hillary Super, will become the new chief executive officer of the billion-dollar business effective June 26. Rihanna stated, "I'm so grateful and excited to welcome Hillary Super as our new CEO — she is a strong leader and is focused on taking the business to an even higher level."

Rihanna/Savage X Fenty

The Barbadian singer's net worth has exceeded $1 billion. According to Forbes, "Rihanna is now worth $1.7 billion, Forbes estimates—making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer. But it's not her music that's made her so wealthy. The bulk of her fortune (an estimated $1.4 billion) comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50%. Much of the rest lies in her stake in her lingerie company, Savage X Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress."

After entering the music industry with Def Jam nearly 20 years ago, Rihanna has formed one of the most successful business ventures among her fellow entertainers. Her Fenty products share similar product recognition to hip-hop producer Dr. Dre's Beats by Dre headphone brand, which made him a billionaire. The Savage Fenty X brand caters to all cultures and body types and now has physical shopping locations. The brand has become Victoria's Secret's biggest competition. Not bad, Rihanna-enjoy the ride!

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