RIHANNA HAS been named the richest female musician by Forbes magazine.

The Barbados-born singer has an estimated worth of $600 million (£472 million), according to the publication.

While she hasn’t released a new album since Anti three years ago, Rihanna has surpassed music industry heavyweights including Madonna, whose fortune is estimated to be worth ($570 million), Céline Dion ($450) and Beyoncé ($400 million).

The majority of the 31-year-old’s fortune comes from her partnership with French luxury goods powerhouse LVMH, which owns Givenchy and Dior.

Rihanna’s Fenty Beauty makeup line, which launched in September 2017 and is understood to be worth more than £3 billion, is co-owned by LVMH.

Initially it was exclusively sold in store at Harvey Nichols and Sephora and online through both stores and via fentybeauty.com.

Last month the sought after line became available in store and online at Boots.

The B***h Better Have My Money singer has also become the first black woman at the helm of a luxury fashion brand at LVMH, Fenty, through her partnership with the conglomerate.

“Designing a line like this with LVMH is an incredibly special moment for us,” Rihanna said in a statement.

She added: “Mr Arnault [chairman and CEO of LVMH] has given me a unique opportunity to develop a fashion house in the luxury sector, with no artistic limits.”

Discussing her fortune prior to Forbes’ announcement, Rihanna told The New York Times: “I never thought I’d make this much money, so a number is not going to stop me from working. I’m not being driven by money right now. Money is happening along the way, but I’m working out of what I love to do, what I’m passionate about.”

She added: “The money means that I can take care of my family. The money means that I can facilitate the businesses that I want to. I can create jobs for other people.”

In addition to Fenty Beauty, luxury fashion line Fenty, Rihanna’s other successful ventures outside music include lingerie line Savage X Fenty and the Clara Lionel Foundation.