Rihanna is officially a billionaire and the 'richest female musician'

Queen Bad Gal Riri has officially been declared a billionaire by Forbes on Wednesday with the help of her Fenty Fortune.

The multi-hyphenate star is shining bright like a diamond after the outlet announced that she is the richest female musician in the world and the second-richest female entertainer behind Oprah Winfrey. NBD!

Forbes' Madeline Berg revealed that Rihanna is now worth $1.7 billion and a majority of her fortune is due to her Fenty empire. We still wanna know 'Where's the album?' but clearly her other business ventures are keeping her busy and in her bag.

"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," the Forbes report reads.

The "Love On The Brain" singer splits Fenty Beauty with LVMH, a luxury goods company in France run by Bernard Arnault, the world's second-richest person, according to the report.

Fenty Beauty has become a major success since its launch in 2017 with the main goal of inclusivity and Forbes estimates that all Rihanna sees is dollar signs because the business is worth a whopping $2.8 billion.

All the products come in a diverse range of colours, with foundation offered in 50 different shades. Rihanna has changed the makeup game and the look of the fashion industry with her diverse group of models for Savage x Fenty.

“A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark,” said Shannon Coyne, co-founder of consumer products consultancy Bluestock Advisors. “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.’”

Rihanna made history in 2019 with another venture that she launched under the LVMH umbrella with her luxury fashion house Fenty. She became the first person since 1987 to launch a new house with LVMH and the first woman of colour to create an original brand under the company.

But Forbes did say that not everything Riri touches turns to gold. It was announced earlier this year that Rihanna and LVMH had made the decision to shut down the venture with the high-end fashion and accessory house.

That hiccup isn't stopping Rihanna's plans to expand her Fenty Beauty empire with the launch of Fenty Parfum, a unisex scent inspired and created by the singer herself.

Rihanna fans everywhere took to Twitter to celebrate the 33-year-old singer's billionaire status.

For the fans that have demanded the singer release her ninth studio album, Rihanna has been teasing that it's on the way.

"I can't say when I'm going to drop," she told Vogue in 2020. "But I am very aggressively working on music."

BEFORE YOU GO: Rihanna is dating A$AP Rocky

[video_embed id='2089508']BEFORE YOU GO: Rihanna is reportedly dating A$AP Rocky[/video_embed]