Selena Gomez has now reached billionaire status, adding another impressive achievement to her already remarkable career.
At just 32 years old, the actress, singer, investor, and entrepreneur has become one of the youngest self-made billionaires in the U.S., with her net worth estimated at $1.3 billion, according to Bloomberg.
While Gomez has built her fortune through her music, acting, and various brand partnerships, the majority of her wealth is tied to Rare Beauty, her five-year-old makeup brand. Known for its popularity among influencers and teens, Rare Beauty has become a significant contributor to her financial success, Bloomberg reported on Friday.
Gomez’s estimated net worth is largely based on her ownership stake in Rare Beauty, as well as her involvement in Wondermind, a mental health platform. Additionally, her earnings from music, acting, real estate, and various social media partnerships play a role in her wealth accumulation. With 424 million followers on Instagram, Gomez is the platform’s third most-followed user, trailing only behind soccer stars Cristiano Ronaldo (638 million) and Lionel Messi (504 million).
Her massive social media presence has enabled lucrative endorsement deals, including a reported $30 million agreement with Puma and a $10 million deal with Coach. This influence has not only bolstered her income but has also significantly boosted the profile of Rare Beauty, positioning her brand alongside other celebrity-led companies such as Rihanna’s Fenty Beauty and the makeup lines launched by the Kardashians. Recently, Gomez reportedly engaged with investors, seeking a $2 billion valuation for Rare Beauty.
In 2020, Gomez publicly disclosed her bipolar disorder diagnosis and emphasized that her business ventures must include a charitable component, particularly in the mental health space. In line with this commitment, she launched the Rare Impact Fund, aiming to raise $100 million to support access to mental health services.
Beyond her business endeavors, Gomez continues to earn from her role in Hulu’s hit series “Only Murders in the Building,” which has been renewed for a fifth season. According to Bloomberg, she earns $6 million per season from the show, along with additional income from her music royalties.
