Forbes magazine has announced that pop star Rihanna is a billionaire and are describing her the richest female musician on the planet.

The 33-year-old singer is apparently worth 1.7 billion US dollars.

She is also the second richest female entertainer in the world behind Oprah Winfrey, according to the magazine.

Oprah Winfrey

A total of 1.4 billion US dollars of her wealth comes from Fenty Beauty, of which she owns 50%, Forbes said.

She launched the line in 2017 and it reportedly generated a hefty 100 million US dollars in its first 40 days.

It earns more than celebrity-founded beauty brands including Kylie Jenner's Kylie Cosmetics, Kim Kardashian’s KKW Beauty and Jessica Alba’s Honest Company, Forbes said.

Kim Kardashian

As well as her career in music and cosmetics, Barbados-born Rihanna, whose full name is Robyn Rihanna Fenty, is also behind the Savage X Fenty lingerie line and currently maintains a 30% ownership stake, according to the magazine.

Rihanna has not released an album since 2016’s Anti.

Kim Kardashian and Kanye West are among the stars who have recently been confirmed as billionaires by Forbes.