Selena Gomez Becomes One of the Youngest Self-Made Billionaires
Selena Gomez, at just 32 years old, has reached billionaire status, joining the ranks of the youngest self-made billionaires in the United States. Known for her successful career as an actress, singer, investor, and entrepreneur, Gomez’s estimated net worth now stands at $1.3 billion, according to Bloomberg. This achievement adds yet another remarkable milestone to her impressive list of accomplishments.
While Selena’s wealth comes from a variety of sources, her biggest financial success stems from her makeup line, Rare Beauty. Launched just five years ago, the brand has garnered massive popularity, especially among influencers and younger audiences. Bloomberg reports that a “vast bulk” of Gomez’s wealth is tied to the success of this brand, which continues to dominate the beauty industry.
Apart from Rare Beauty, Selena’s financial portfolio includes her involvement in Wondermind, a mental health platform, along with her earnings from acting, music, real estate, and brand endorsements. Her immense social media presence, with over 424 million Instagram followers, also plays a significant role in boosting her earnings. Gomez’s high-profile endorsement deals with brands like Puma and Coach have added millions to her fortune, with reported deals worth $30 million and $10 million, respectively.
Gomez’s social media influence has not only bolstered her brand partnerships but also pushed her beauty line into the spotlight, placing her alongside celebrity-driven beauty brands like Rihanna’s Fenty Beauty and the Kardashian-Jenner family’s cosmetics empire. She has even sought a $2 billion valuation for Rare Beauty as it continues to grow.
Beyond her entrepreneurial endeavors, Gomez continues to earn from her acting career. Her hit Hulu series, Only Murders in the Building, was recently renewed for its fifth season, and she reportedly earns $6 million per season. Additionally, she benefits from music royalties and other entertainment ventures.
With her diverse business ventures and massive fanbase, Selena Gomez’s rise to billionaire status is just the beginning of an even larger empire.
