Selena Gomez has achieved billionaire status due to the remarkable success of her beauty brand. She first gained fame as a child star on Barney and later on the Disney Channel, before pursuing a music career and later launching her beauty brand Rare in 2020.
The 32-year-old actress and singer has accumulated a net worth of $1.3 billion, as reported by Bloomberg, which included her in its billionaire index on Friday.
According to the publication, her wealth primarily stems from her Rare Beauty cosmetics line, which she established five years ago and holds a stake in valued at over $1 billion. This success has positioned her among the "youngest female self-made" billionaires, alongside notable figures like Taylor Swift and Rihanna.
Rare Beauty, celebrated for its liquid blush and lip tint that have gained viral popularity on social media, reportedly generated $400 million in net sales over the year leading up to February. Additionally, Gomez has earned tens of millions from endorsement contracts with brands such as Louis Vuitton, Coach, and Puma, as noted by Bloomberg.
The report also indicated that she earns "at least" $6 million per season for her Emmy-nominated role in the Hulu series "Only Murders in the Building," which has recently been renewed for a fifth season. Despite her achievements in acting and music, including multiple Emmy and Grammy nominations, these accomplishments represent only a small portion of her overall wealth, according to Bloomberg.
Born in Texas, Gomez has been in the public eye for nearly thirty years, where her success has attracted attention regarding her fashion choices, relationships, and health challenges, including her diagnoses of bipolar disorder and lupus.
She has shared her family's journey from Mexico to the United States, recounting stories of her aunt "hidden in the back of a truck" and her experiences recording songs in Spanish.
Last year, the singer became the most followed woman on Instagram, boasting over 424 million followers, surpassing both Swift and Kylie Jenner. This recognition comes with its challenges, as Gomez has openly discussed the platform's adverse effects on her mental health, leading her to delete the app at times. On Friday, her account remained silent as news of her latest accolade circulated.
In a BBC1 interview conducted nearly ten years ago, Gomez discussed the surprising duration of her career at such a young age.
"It's strange to think it's been almost two decades... am I getting too old?" she quipped, while expressing her desire for further accomplishments. "What’s truly astonishing is that often I feel like I haven’t even begun," she remarked.