Selena Gomez, the renowned American singer and actress, has officially become one of the youngest billionaires, as reported by Deadline. Her rise to billionaire status is largely attributed to the success of her beauty line, Rare Beauty, which has significantly boosted her wealth.
While Gomez first gained fame through her music and acting career, her entrepreneurial ventures have now made a major impact on her finances.
At 32, the star of the hit Hulu series Only Murders in the Building launched Rare Beauty in 2019, a key factor in reaching her impressive net worth of USD 1.3 billion, as reported by Bloomberg. She is now recognized as one of the youngest female billionaires in the U.S.
Selena Gomez Becomes Billionaire
Singer and actress Selena Gomez has officially become a billionaire, making her one of the youngest celebrities to reach this status, according to a report by Bloomberg. Her total wealth is now valued at $1.3 billion.
The biggest source of Selena’s fortune is her makeup brand, Rare Beauty, which she started five years ago. Rare Beauty has been a huge success, especially over the last year. The brand’s products, like liquid blush and lip tint, have become extremely popular and are often sold out. In the last 12 months, Rare Beauty made around $400 million in sales.
In addition to her makeup brand, Selena has also earned a lot from her deals with famous luxury brands like Louis Vuitton and Coach. These endorsements, along with her beauty brand’s success, have played a major role in helping her achieve billionaire status. Other young stars like Taylor Swift and Rihanna have also made it to the billionaire list, but Selena’s rapid rise is definitely impressive.
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Selena Gomez’s Success
Selena Gomez’s financial success now extends beyond her thriving career in the entertainment industry, thanks largely to her entrepreneurial ventures. A significant portion—81.4%—of her net worth is attributed to her major stake in her beauty brand, Rare Beauty. As marketing expert Stacy Jones notes, Rare Beauty has become a dominant force in the beauty and influencer markets.
In addition to her beauty brand, Selena’s income also comes from investments in real estate and her mental health startup, Wondermind. Her earnings from the entertainment sector include music album sales, streaming deals, brand partnerships, concerts, and acting roles.
Selena Gomez is also making a notable return to television with a sequel to the Disney Channel show ‘Wizards of Waverly Place.’ The new series, ‘Wizards Beyond Waverly Place,’ is set to premiere on October 29 this year. Despite her most recent album, ‘Rare,’ being released four years ago, Selena remains a significant figure in the entertainment industry.
Selena Gomez reportedly earned over $6 million per season for her role in the hit series Only Murders in the Building, where she stars alongside comedy icons Steve Martin and Martin Short.
In addition to her acting success, Selena is the most followed woman on Instagram, with an impressive 424 million followers. She’s also made a mark in the music world, with several hit songs and a Grammy nomination for her Latin-Pop album Revelación.
Her popular show Only Murders in the Building, which has been nominated for an Emmy, is set to return for its fifth season.
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Selena Gomez Becomes Billionaire FAQs
Q.1. How did Selena Gomez become a billionaire?
Ans. Selena Gomez reached billionaire status largely through the success of her beauty brand, Rare Beauty, which has significantly boosted her wealth.
Q.2. What is Rare Beauty?
Ans. Rare Beauty is Selena Gomez’s beauty brand, launched in 2019, known for popular products like liquid blush and lip tint.
Q.3. What other sources contribute to Selena Gomez’s net worth?
Ans. Besides Rare Beauty, Selena’s income comes from real estate investments, her mental health startup Wondermind, brand endorsements, and her work in entertainment.
Q.4. When is Selena Gomez’s new TV series set to premiere?
Ans. Selena Gomez’s new series, ‘Wizards Beyond Waverly Place,’ is scheduled to premiere on October 29 this year.
Q.5. How much does Selena Gomez earn per season from ‘Only Murders in the Building’?
Ans. Selena Gomez reportedly earns over $6 million per season for her role in the hit series ‘Only Murders in the Building.’
