Rihanna is officially the richest female musician on Earth

Rihanna - Grammy-award winning artist, and the ultimate purveyor of cool - has some serious business smarts to boot.

Certainly, the launch of her makeup brand, Fenty Beauty, and lingerie range, Savage X Fenty, have helped her become the richest female musician on the planet.

According to a profile published today in Forbes, the singer's estimated fortune is around $600, which puts her ahead of fellow superstars including Madonna ($570 million), Celine Dion ($450 million), and Beyoncé ($400 million).

The publication detailed that it was not her music sales or concert proceeds which are responsible for her fortune, rather it's her move into entrepreneurship. Her partnership with French luxury conglomerate, LVMH, on Fenty Beauty  - which launched in September of 2017 at Sephora - was a runaway success, with the brand purportedly making $100 million in sales in its first few weeks.

The brand proved to be revolutionary when it came to championing inclusivity in the beauty industry, with it providing POC with the most diverse range of skin shades ever seen in a commercial venture. "It challenged the standard convention that you only needed a very defined set of shades to satisfy a market," Jefferies research analyst, Stephanie Wissink, said at the time. "Not only did [the range] achieve meaningful sales, but it potentially changed the industry permanently.”

After 15 months of being in production, Fenty Beauty has reportedly amassed $570 million in sales, with the brand being worth an estimated $3 billion for LVMH - which is said to own 50 per cent of the company.

The 31-year-old also owns lingerie line, Savage X Fenty, with Los Angeles based fashion company, TechStyle Fashion Group. In addition to this, she has an upcoming clothing line with LVMH - rumoured to be named Fenty - which will manufacture high-end garments, shoes and accessories.