Selena Gomez has recently been added to the Billionaires Index following her $1.3 billion net worth milestone in September 2024. While many might boast about such an achievement, Gomez’s response has been both modest and focused on the people who helped her get there.
Billionaire Status Revealed
On September 6, 2024, Bloomberg reported that the “Wolves” singer and Rare Beauty founder had officially joined the ranks of billionaires. Her wealth stems from a mix of her roles as a singer, actress, and entrepreneur, combined with the overwhelming success of her beauty line. With 424 million followers on Instagram and a brand that’s constantly growing, her presence in multiple industries continues to thrive.
A Grateful and Humble Reaction
When asked about her reaction to reaching this incredible financial milestone, Selena Gomez was quick to express gratitude rather than boast. Speaking to Entertainment Tonight, she explained how appreciative she was for all the opportunities and for the individuals who played a role in her success.
“I personally think it’s distasteful to talk about money,” Gomez remarked, crediting her success to her loyal Rare Beauty customers. “I really am giving all the credit to the people who buy the products. They’re the ones that made this dream of mine come true.”
Rare Beauty’s Contribution to Mental Health
The bulk of Selena Gomez’s wealth comes from Rare Beauty, the makeup brand she launched in 2020. But Rare Beauty isn’t just about beauty products – it’s closely tied to a larger mission. The company created the Rare Impact Fund, which raises awareness and funds for mental health initiatives. In 2023 alone, the brand contributed over $7 million toward expanding access to mental health services, with 1% of all sales going back to the fund. This initiative partners with organizations like the Mindful Life Project, The Jed Foundation, and The Trevor Project to make a positive impact.
Embracing Imperfections and Inner Beauty
Selena Gomez has also been vocal about the importance of embracing imperfections. Despite selling beauty products, she emphasizes promoting natural beauty. In an interview with Time Magazine, she said, “I hope Rare Beauty doesn’t give off the vibe that you have to do anything,” speaking about how she often wears minimal makeup herself.
Dismissing Rumors of Selling Rare Beauty
In the months leading up to her billionaire status, speculation emerged about Gomez’s future plans for Rare Beauty, with some suggesting that she might sell the company. Addressing these rumors, she confirmed that there are no plans to sell, although she admitted that managing the business could feel overwhelming at times.
Selena Gomez continues to inspire through her humility, her dedication to mental health advocacy, and her commitment to fostering a positive community around Rare Beauty.
