- Selena Gomez becomes self-made billionaire at 32
- Rare Beauty makeup line drives her $1.3 billion net worth
- Music, acting, and endorsements add to her wealth
Selena Gomez has reached a new milestone in her career, becoming a billionaire at the age of 32. The multi-talented actress, singer, investor, and entrepreneur has achieved a net worth of $1.3 billion, according to Bloomberg, making her one of the youngest self-made billionaires in the United States.
Gomez’s substantial wealth is derived from various sources including her music career, brand partnerships, and acting. However, the primary contributor to her financial success is Rare Beauty, the makeup line she launched five years ago. The brand has gained considerable traction among influencers and teenagers, contributing significantly to her overall wealth.
Bloomberg’s valuation of Gomez’s net worth includes the estimated value of her stake in Rare Beauty, her investment in the mental health platform Wondermind, and additional earnings from her music, acting, real estate, and social media endorsements. With 424 million followers on Instagram, Gomez ranks as the third most-followed person on the platform, behind soccer stars Cristiano Ronaldo and Lionel Messi.
Her massive social media presence has facilitated lucrative endorsements, including a reported $30 million deal with Puma and a $10 million partnership with Coach. Her influence has also bolstered Rare Beauty’s position in the competitive celebrity-driven makeup market, where it competes with brands led by Rihanna and the Kardashians. Reports indicate that Gomez is currently seeking a $2 billion valuation for Rare Beauty through new investment efforts.
In addition to her business ventures, Gomez has been open about her personal struggles, including her bipolar disorder diagnosis revealed in 2020. In an interview with Entrepreneur, she emphasized that any partnership or deal she engages in must include a charitable or mental health component. This led to the creation of the Rare Impact Fund, which aims to raise $100 million to improve access to mental health services.
Gomez also continues to generate revenue from her Hulu series “Only Murders in the Building,” which has been renewed for a fifth season. Bloomberg reports that she earns $6 million per season from the show. Additionally, she receives income from music royalties.
At this time, Gomez’s representative has not provided a comment in response to CNN’s request.
