Selena Gomez Achieves Billionaire Status

Selena Gomez has officially reached billionaire status, becoming one of the youngest self-made billionaires in the United States. According to Bloomberg, her net worth is estimated to be $1.3 billion.

The wealth amassed by the 32-year-old actress, singer, and entrepreneur is largely attributed to her successful makeup line, Rare Beauty, which she launched five years ago. This brand has gained significant popularity among influencers and teenagers.

Gomez’s financial accomplishments are not solely based on her singing and acting careers; a substantial portion of her wealth stems from her ownership stake in Rare Beauty as well as her earnings from music, acting, real estate investments, and lucrative brand partnerships.

With 424 million followers on Instagram, Gomez ranks as the third most-followed individual on the platform. This considerable following has bolstered her ability to secure major endorsements with companies such as Puma and Coach.

Rare Beauty is positioned within the competitive celebrity-led makeup industry, competing with brands founded by Rihanna and the Kardashians. In addition to her business endeavors, Gomez is committed to philanthropy, having established the Rare Impact Fund, which aims to raise $100 million to improve access to mental health services.

Aside from her ventures in beauty, Gomez is known for her role in the Hulu series, ‘Only Murders in the Building,’ which has recently been renewed for a fifth season. Reports suggest she earns $6 million per season from this project.