Forbes Names Rihanna the Richest Female Musician in the World

Rihanna is now the richest female musician. On June 4, Forbes estimated her net worth at about $600 million. This means the singer has beat other wealthy musicians including Madonna ($570 million), Celine Dion ($450 million) and even Beyoncé ($400 million). RiRi shares financial news this week with her early mentor Jay-Z, who just became the world's first billionaire rapper.

Rihanna's financial ascent is not exclusively due to her musical success but also to her partnership with luxury French powerhouse LVMH. Not to mention, her makeup line, Fenty Beauty, made over $100 million in sales in the first few weeks of its launch at Sephora.

Fenty Beauty has reached such success due in large part to Rihanna's commitment to diversity. The foundation line boasts 40 shades--an unheard of range in the makeup industry--and continues to launch products that promote inclusion.

In addition to Fenty Beauty, Rihanna started Savage X Fenty, a lingerie line in collaboration with L.A.-based fashion firm TechStyle Fashion Group. The line has also been met with great success for the same reason Fenty Beauty has boomed: Rihanna's commitment to inclusion.

In collaboration with LVMH, Fenty will produce luxury clothing, shoes, accessories and jewelry. The company launched online in May of this year and includes a range of sizes up to 14.