Rihanna is officially a billionaire, according to Forbes, thanks to her fashion and beauty empire

• Forbes has declared Rihanna a billionaire.
• It said she's worth $1.7 billion thanks to her music, acting, and her fashion and beauty brands.
• It makes her the world's wealthiest female musician, Forbes said.

Rihanna is now a billionaire, Forbes has declared.

Rihanna - who became a major celebrity through her music and has gone on to launch an acting career and fashion and beauty brands - is now worth $1.7 billion, Forbes estimates.

Forbes said on Wednesday that she had become "the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer."

It noted that the majority of her wealth came from non-musical endeavors, driven largely by her brands like Fenty Beauty and Savage x Fenty.

Rihanna, who is known for her chart-topping songs like "Umbrella," "Only Girl (In the World)," and "Work" is one of the best-selling music artists of all time. She has nine Grammy Awards, 13 American Music Awards, and 12 Billboard Music Awards.

Lately, she has turned her attention away from music and has become a powerhouse in the beauty brand space.

Fenty Beauty, which Rihanna has a 50-50 joint venture with French luxury conglomerate LVMH, launched in 2017 and was an instant hit bringing in more than $550 million in annual revenue in its first calendar year, Forbes reported.

Rihanna's lingerie brand, Savage x Fenty, which launched in 2018 and is a joint venture with TechStyle Fashion Group (Rihanna has a 30% ownership stake, according to Forbes), raised $115 million in funding earlier this year bringing the brand's valuation to over $1 billion. The plan is to use the funding to open Savage x Fenty stores.