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, 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.
While Gomez has made a name for herself through acting and music, the majority of her wealth comes from her successful makeup line, Rare Beauty. Launched in 2019, Rare Beauty has quickly gained popularity among influencers and teens, leading to significant revenue generation for Gomez.
Rare Beauty: The Key to Gomez's Billionaire Status
Rare Beauty's success is not just about selling makeup. Gomez built the brand around mental health awareness and inclusivity, which resonated with consumers. The brand's focus on celebrating individuality and promoting self-acceptance has attracted a loyal customer base. Bloomberg estimates that Gomez's stake in Rare Beauty alone is worth over $1 billion.
Beyond Rare Beauty: Other Sources of Income
While Rare Beauty is the cornerstone of Gomez's wealth, her other ventures contribute significantly to her fortune. Her music career, acting roles, and brand partnerships all generate substantial income. Gomez is known for her massive following on Instagram, with over 424 million followers, making her the third most followed person on the platform. This vast following attracts lucrative endorsement deals with brands like Puma and Coach.
Gomez's acting career also contributes to her financial success. She currently stars in the hit Hulu show "Only Murders in the Building," which has been renewed for a fifth season. Gomez reportedly earns $6 million per season for her role in the show.
A Look at Gomez's Business Acumen
Gomez's journey to becoming a billionaire is a testament to her business acumen. She has diversified her investments, venturing into various industries, and she has leveraged her influence and popularity to build successful brands. Her commitment to mental health awareness through her Rare Impact Fund further underscores her commitment to using her platform for good.
From Child Star to Business Mogul
Gomez's rise to the top is a remarkable story of resilience and success. Starting her career as a child star on "Barney & Friends" and "Wizards of Waverly Place," Gomez has consistently evolved and expanded her repertoire, building a successful career in acting, music, and business. Her transition from a child star to a business mogul exemplifies the power of dedication, talent, and a sharp business mind.
Looking Ahead: What's Next for Gomez?
With her billionaire status, Gomez is poised to further expand her business ventures and continue her journey of success. The future holds exciting possibilities for this multi-faceted star, and her impact on the world is likely to grow even stronger. Her dedication to her passion, coupled with her strategic business decisions, makes her a role model for aspiring entrepreneurs and a shining example of what can be achieved with hard work and determination.
