Rihanna now has an estimated worth of an astonishing $1.7 billion (£1.2 billion), according to Forbes.
More than 80% of the 33-year-old's fortune comes from Fenty Beauty, a cosmetics company she founded just four years ago with a mission to offer products catering for a diverse clientele.
The singer's wealth also includes her $270m-valued lingerie company Savage x Fenty as well as earnings from her music career.
The figures make Rihanna, whose hits include 'Bitch Betta Have My Money', the most wealthy female musician in the world and the second most wealthy female entertainer after Oprah Winfrey.
Last month Rihanna launched a new skin care brand, Fenty Skin, while her work on an elusive ninth studio album is thought to be on hold.