After releasing eight studio albums and launching a fashion and beauty line, Rihanna has officially reached billionaire status.

On Wednesday, Forbes revealed Rihanna is trailing behind Oprah Winfrey as one of the richest entertainers in the world. Rihanna is reportedly worth an estimated $1.7 billion.

But how did the 33-year-old make her fortune?

Rihanna started as a singer with chart-topping songs like “Umbrella” and “Work.” However, a majority of the singer’s wealth, about $1.4 billion, comes from her Fenty Beauty cosmetics brand, which she has 50% ownership of.

The rest of her fortune comes from her career in music, film, and her lingerie company, Savage x Fenty, which she has a 30% stake in and is worth around $270 million.

Rihanna launched Fenty Beauty in 2017 as part of a 50-50 joint venture with French luxury goods conglomerate LVMH. By the following year, the brand was earning over $550 million in annual revenues.

Fenty Beauty is currently worth an estimated $2.8 billion and is only expected to grow after Rihanna launched Fenty Skin last year and recently announced plans to enter the fragrance industry with Fenty Parfum.

Shannon Coyne a financial consultant, revealed the singer was wise to explore a career outside of the music industry.

“She is creating a brand outside of herself. It’s not just about Rihanna,” Coyne explained. “Even if you don’t like her music, she’s created a real style in the fashion and beauty space.”

Coyne noted Rihanna’s beauty brand was able to differ from other celebrity makeup lines due to the singer’s desire to offer cosmetics to all skin types rather than appealing to a specific group of people.

“A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium-dark, dark,” Coyne said.

“We all know that’s not reality. She was one of the first brands that came out and said, ‘I want to speak to all of those different people.’”

While Rihanna continues her ventures in both beauty and fashion, fans continue to wait for the singer to release her ninth studio album. The singer’s last album “Anti” was released in 2016.

Rihanna's latest photoshoot has landed her in hot water in India
Rihanna's latest photoshoot has landed her in hot water in India AFP / Martin BUREAU