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Pop star Rihanna is now a billionaire!

This is according to Forbes magazine, which estimated the singer's net worth at $1.7 billion and making her the richest female musician and second richest female entertainer behind Oprah Winfrey.

Interestingly, Rihanna, who last released an album in 2016, did not grow her riches through music but with the help of her business ventures catering to women.

Rihanna, whose real name is Robyn Fenty, earned a huge chunk of her fortune from her Fenty Beauty makeup line and her Savage x Fenty lingerie line.

The 33-year-old singer, according to Forbes, owns 50 percent stake of Fenty Beauty, with the other half belonging to French luxury goods giant LVMH owned by multi-billionaire Bernard Arnault.

Fenty Beauty outsold other celebrity-owned beauty brands in past years including Kim Kardashian West's KKW Beauty, Kylie Jenner's Kylie Cosmetics, and Jessica Alba's Honest Company.

Meanwhile, Savage x Fenty is valued at around $270 million, further bolstering Rihanna's net worth.

Founded in 2018, Savage x Fenty is a joint venture with TechStyle Fashion Group and counts rapper-entrepreneur Jay-Z as among its early investors.

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Last year, Rihanna was included in the list of highest paid celebrities on Instagram. See the list below: