Pop star Rihanna’s net worth is estimated at $US1.7 billion ($A2.3 billion), making her the richest woman musician in the world – but her music is not the primary source of her wealth, Forbes magazine says.

The Barbados-born singer, whose birth name is Robyn Fenty, derives an estimated $US1.4 billion of her fortune from her 50 per cent stake in the Fenty Beauty cosmetics line, Forbes reported.

The rest of Rihanna’s wealth comes from her share of the Savage x Fenty lingerie company and her income as a singer and actress, the magazine said.

Rihanna’s beauty company, of which LVMH owns the other half, is known for its broad range of 50 skin tones.

The singer of Umbrella and Love the Way You Lie ranks second behind Oprah as the richest female entertainer, Forbes said.

-AAP