Selena Gomez Joins Billionaire Club: Rare Beauty Fuels Her Fortune

Selena Gomez has reached billionaire status following the success of her beauty brand, according to Bloomberg. The American singer and actress, 32, first rose to fame as a child star on Disney Channel before pursuing a music career and later launching her beauty brand Rare in 2020. Through her ventures, she has accumulated a fortune worth 1.3 billion dollars (£990 million), making her one of the “youngest female self-made billionaires”, according to Bloomberg, which has recently added the US star to its billionaire index. The business news outlet believes her wealth mainly comes from her beauty brand, which she retains a stake in worth more than one billion dollars, it estimated. Rare Beauty became a hit with influencers and make-up fans, with many raving about its liquid blush and lip products. She has also amassed her wealth through other avenues including brand partnerships, acting deals and music sales and touring. After rising to stardom on Disney Channel on children’s show Barney & Friends and Wizards of Waverly Place, she went on to star in various TV shows and films including 2012’s Spring Breakers and the Hotel Transylvania franchise. She currently stars alongside veteran comedians Steve Martin and Martin Short in the critically acclaimed series Only Murders In The Building, for which she has been Emmy nominated. In her music career, she has released three albums with her group Selena Gomez & the Scene and later three solo album records. She is the most followed woman in the world on Instagram with 424 million followers, ahead of Taylor Swift and members of the Kardashian-Jenner family. Her close friend Swift became a billionaire earlier this year through her music and tour earnings, according to Forbes magazine. Other celebrities on the list include Barbadian singer Rihanna, who also made it through her beauty brand, while Beyonce’s husband, the rapper Jay-Z, became hip-hop’s first billionaire in 2019 based on his fine art collection, music and shares in companies and drinks brands.

Selena Gomez is officially a billionaire, according to a Bloomberg report. She is estimated to be worth $1.3 billion, making her one of the country’s youngest women with a 10-figure fortune. The publication determined a “vast bulk” of her net worth is attached to the success of her Rare Beauty makeup and cosmetics brand (which is available in the United States, Canada, and Mexico) that launched in 2019.

Gomez, 32, started acting as a child before starting her music career and appearing in the Hulu hit series “Only Murders in the Building,” which was recently renewed for Season 5. Gomez will also star in the Cannes-winning musical drama, “Emilia Perez,” from Jacques Audiard, which is slated to open in select theaters on Nov. 1, before streaming on Netflix on Nov. 13.

Though Gomez has been more active on-screen in recent years, she did share a pair of fresh singles — “Love On,” in February, and “Single Soon” in 2023 — through her label Interscope Records, and also began teasing a new album. She was a mainstay on the Billboard Hot 100 throughout most of 2023 thanks to her single, “Calm Down,” a RIAA certified triple-platinum hit she shares with Afrobeats superstar Rema.

The Bloomberg report also emphasizes Gomez’s social media impact and her mental health brand, in addition to her personal brand deals and sponsorships. The publication writes that the “wealth analysis [of Selena Gomez] took into account the estimated value of her stake in Rare Beauty, her interest in Wondermind, the estimated value of her music album sales and properties, and earnings from streaming deals, brand partnerships, concert tickets and acting.”

The actor and musician launched Rare Beauty in 2020

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US News Reporter

Selena Gomez is officially a billionaire thanks to the success of her beauty brand, Rare Beauty.

The actor and musician, 32, started the company in 2019 and officially launched the brand in February 2020, taking the name from her album of that year, Rare.

Gomez is now worth $1.3bn according to the Bloomberg Billionaires Index, which has added her to its ranks for the first time.

Born in Grand Prairie, Texas, in 1992, Gomez started her career as a child actor and became a Disney Channel star on sitcom Wizards of Waverly Place.

She has since built a career as a singer and actor, but the vast majority of her wealth comes from Rare Beauty.

Stacy Jones, founder of LA branding agency Hollywood Branded, told Bloomberg: “Selena is not just a pop star. She’s a multifaceted businesswoman with diverse income streams contributing to her impressive net worth.”

When she launched the brand, Gomez outlined in a promotional video what “being rare” means to her.

“Being rare is about being comfortable with yourself. I’ve stopped trying to be perfect. I just want to be me,” she said.

“I think Rare Beauty can be more than a beauty brand. I want us all to stop comparing ourselves to each other and just start embracing our own uniqueness.”

Gomez went on to say that people are “not defined by a photo, a like or a comment”, adding: “Rare Beauty isn’t about how other people see you, it’s about how you see yourself.”

In a review of the beauty range, The Independent’s Lucy Partington said it “really is worth the hype.”

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“Overall, we were incredibly impressed with Selena Gomez’s line – it feels like real passion has been put into every product,” she wrote.

“The shade ranges are impressive – from the 48 skin-true foundation and concealer colours through to the wearable blushers and muted lipsticks – and everything feels like it belongs.

“We didn’t try any dud products; the formulas deliver and the pay-off and blendability is excellent. The pigments can be built up or worn sheer depending on either personal preference or on the occasion, plus the packaging is chic.”

Gomez can currently be seen in the fourth season of Only Murders in the Building, the comedy murder-mystery series she stars in alongside Steve Martin and Martin Short.

Earlier this year, it was announced that she has been cast to play folk rock trailblazer Linda Ronstadt in a new biopic.

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Selena Gomez attends the Season 4 premiere of ‘Only Murders In The Building’ in LA in August 2024

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New York -- Selena Gomez can now add becoming a billionaire to her long list of achievements.

The 32-year-old actress, singer, investor and entrepreneur just achieved the financial milestone thus making her one of the youngest self-made billionaires in the United States, according to Bloomberg, which values her net worth at $1.3 billion.

Some of the wealth for the "Only Murders in the Building" star comes from singing, brand partnerships and acting, but the "vast bulk" of her wealth is tied to Rare Beauty, her 5-year-old makeup line that is a success with influencers and teens, the publication revealed Friday.

Gomez's wealth is based on Bloomberg's "estimated value" of her stake in the beauty brand, plus her interest in mental health platform Wondermind and various other earnings from her music, acting, properties and money she makes from partnerships that she posts about on social media, which includes her 424 million followers on Instagram.

Her popularity on Instagram makes her the third most followed person, behind soccer icons Cristiano Ronaldo (638 million) and Lionel Messi (504 million), helping her rake in massive endorsements with Puma, worth a reported $30 million, and Coach, a $10 million deal.

But her following has also helped her Rare Beauty line, putting her in the celebrity-led category of makeup brands dominated by Rihanna and the Kardashians. Gomez also has reportedly reached out to investors for Rare Beauty, seeking a $2 billion valuation.

In 2020, Gomez revealed that she was diagnosed with bipolar disorder and later said in an interview with Entrepreneur that any deal struck with her "has to have an element that's charitable or in the mental health space." She started the Rare Impact Fund to help raise $100 million to help people gain access to mental health services.

Other revenue streams for the former child star include income from her Hulu show "Only Murders in the Building," which was just renewed for a fifth season where she makes $6 million a season, according to Bloomberg, and a smaller slice from her music royalties.

Gomez's representative didn't immediately respond to CNN's request for comment.

Disney is the parent company of Hulu and this ABC station.

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By Glenn Garner

Night/Weekend Editor

Selena Gomez is taking her beauty brand all the way to the bank after five years.

The Golden Globe nominee has reached billionaire status, according to a new report that finds her wealth has been largely driven by her Rare Beauty cosmetic brand, which she launched in 2019, as well as other ventures that leverage her 424 million Instagram followers.

With an estimated $1.3 billion worth, she’s now one of the country’s youngest female billionaires, Bloomberg reported Friday.

Rare Beauty makes up 81.4% of Gomez’s fortune. The value also takes into account her interest in the Wondermind mental health startup, the estimated value of her music album sales and real estate properties, as well as earnings from streaming deals, brand partnerships, concert tickets and acting.

Although Gomez’s last solo tour was 2016’s Revival Tour, and her last album was 2020’s Rare, she has remained busy as a star and executive producer on Only Murders in the Building, which was recently renewed for Season 5.

Thanks to Only Murders in the Building, Gomez is currently nominated for an Emmy Award for Outstanding Lead Actress in a Comedy Series, her first nod in the category. The Hulu show is also up for Outstanding Comedy Series for the third consecutive year.

Meanwhile, Gomez is preparing to return to her roots with Wizards Beyond Waverly Place, a sequel series to her 2007-’12 Disney Channel series Wizards of Waverly Place, premiering Oct. 29 at 8pm ET/PT. Gomez and returning co-star David Henrie also serve as executive producers.

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