Selena Gomez Achieves Billionaire Status with Rare Beauty Brand

Selena Gomez has officially reached billionaire status following the tremendous success of her beauty brand, Rare Beauty, as reported by Bloomberg.

The American singer and actress, now 32 years old, first began her career as a child star on the Disney Channel. After her initial success, she transitioned into music and launched her beauty brand in 2020.

According to Bloomberg, Gomez’s net worth is approximately $1.3 billion (£990 million), securing her position as one of the youngest female self-made billionaires in the United States. The bulk of her wealth, estimated at over $1 billion, comes from her stake in Rare Beauty.

Rare Beauty has gained significant popularity among influencers and makeup enthusiasts, particularly for its liquid blush and lip products. In addition to her beauty brand, Gomez has built her wealth through various other endeavors including brand partnerships, acting roles, and music revenue from album sales and tours.

Beginning her career on shows such as Barney & Friends and Wizards of Waverly Place, Gomez has also featured in films like Spring Breakers and the Hotel Transylvania franchise. She currently stars in the acclaimed series Only Murders In The Building alongside Steve Martin and Martin Short, for which she has received an Emmy nomination.

In addition to her acting career, Gomez has released three albums with her band Selena Gomez & the Scene, along with three solo albums. She holds the title of the most followed woman on Instagram, boasting 424 million followers, surpassing other celebrities including Taylor Swift and members of the Kardashian-Jenner family.

Her close friend, Taylor Swift, also achieved billionaire status earlier this year due to her earnings from music and tours. Other celebrities who have reached this milestone include Rihanna, who became a billionaire through her beauty brand, Fenty Beauty, and Jay-Z, who was recognized as hip-hop’s first billionaire in 2019.