Rihanna is officially a billionaire, which makes her the richest female musician on the planet.

Per Forbes, the 33-year-old singer now has a calculated net worth of $1.7 billion dollars - making her the second-wealthiest entertainer in the world, behind Oprah Winfrey.

Take a look at this footage of Rihanna relaxing at home:

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Forbes estimates that the majority of her money comes not from her music production, however, but from her various businesses.

Indeed, the bulk of her fortune comes from the value of Fenty Beauty, while around $270 million comes from her lingerie brand, Savage x Fenty.

Her social media presence has also been a boost to her revenue and exposure. Rihanna - real name Robyn Rihanna Fenty - currently boasts approximately 101 million followers on Instagram and a further 102.5 million on Twitter.

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In a 2019 interview with The New York Times, the iconic performer stated that she did not name her brand after her stage name so that the public would not become "oversaturated" by her.

She stated: "Every collaboration I did outside of music, I used Fenty so that you didn’t have to hear the word ‘Rihanna’ every time you saw something that I did.

"So Rihanna stayed the music, the person. But these other brands are called Fenty."

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Commenting on the success of Rihanna's aforementioned beauty products, cofounder of consumer products consultancy Bluestock Advisors Shannon Coyne told Forbes:

"A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium-dark, dark.

"We all know that's not reality. She was one of the first brands that came out and said: 'I want to speak to all of those different people.'"

This news comes not long after the rapper A$AP Rocky confirmed that he and Rihanna were dating, calling her "the love of my life" in an interview with GQ Magazine.

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Per the above publication, the duo even traveled to Rihanna's home country over Christmas last year, where A$AP Rocky stated that he felt a true sense of "belonging."

Featured Image Credit: Alamy/Sipa US

Rihanna is officially a billionaire and the richest female musician on the planet