Selena Gomez Is a Billionaire Because of Her Beauty Brand
The singer, actress, and entrepreneur launch Rare Beauty five years ago.
Selena Gomez is officially a billionaire.
According to Bloomberg, the 32-year-old now has a net worth of $1.3 billion. While her various endeavors in acting and singing have made her wealthy, her brand, Rare Beauty has put her over the top. Gomez is reportedly now one of the youngest self-made billionaires in America.
In fact, the “vast bulk” of her wealth comes from the beauty brand, which she launched five years ago. Rare Beauty has seen quite a lot of virality on social media, which has been buoyed by Gomez’s 424 million followers on Instagram and 58 million followers on TikTok. The singer, actress, and entrepreneur is the third most-followed person on IG, after Cristiano Ronaldo (638 million) and Lionel Messi (504 million).
Rare Beauty is apparently seeking new investors for a $2 billion valuation, per the outlet.
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Bloomberg estimated her net worth based on her stake in Rare Beauty, her mental health platform Wondermind, and earnings from music, acting, properties, and brand partnerships. Included is her income from the Hulu show Only Murders in the Building, for which she is paid a reported $6 million a season. The series was recently renewed for a fifth season. Also included are her music royalties, and her major endorsements, like her reported $30 million deal with Puma and $10 million deal with Coach.
