Selena Gomez can now add a billionaire to her long list of achievements. According to Bloomberg, the 32-year-old actress, singer, investor, and entrepreneur has officially reached a net worth of $1.3 billion, making her one of the youngest self-made billionaires in the United States.
While some of the “Only Murders in the Building” star’s wealth comes from her music, acting, and brand partnerships, the “vast bulk” of her fortune is tied to Rare Beauty, her five-year-old makeup line. Launched in February 2019, Rare Beauty has become a smash hit in the influencer marketplace, viral among teens. She has placed Gomez in the same celebrity beauty brand league as Rihanna and the Kardashians.
According to Bloomberg, over 80% of her wealth is attributed to her majority stake in Rare Beauty. The beauty brand’s success has prompted Gomez to seek a $2 billion valuation for the company. Marketing expert Stacy Jones told the publication, “Selena is not just a pop star. She’s a multifaceted businesswoman with diverse income streams contributing to her impressive net worth.”
Gomez’s fortune is also boosted by her investment in the mental health platform Wondermind, her real estate portfolio, and the money she earns from partnerships shared with her 424 million Instagram followers. These deals have included a $30 million endorsement with Puma and a $10 million contract with Coach. Her position as the third most-followed person on Instagram, behind soccer legends Cristiano Ronaldo (638 million) and Lionel Messi (504 million), has undoubtedly helped her maintain these lucrative collaborations.
In addition to her business ventures, Gomez continues to make money from her acting and music careers. Her hit Hulu series, “Only Murders in the Building,” which has been renewed for a fifth season, reportedly earns her $6 million annually. She also continues to collect income from her music royalties.
Gomez joins the ranks of other young self-made billionaires, including her close friend Taylor Swift, who achieved billionaire status in October 2023, largely thanks to her record-breaking Eras Tour. Swift’s empire, valued at around $1.1 billion, is built on her highly successful music career, with her catalogue valued at $400 million, streaming revenues exceeding $160 million, and over $370 million in earnings from her tour.
Selena Gomez / Instagram
While Selena Gomez’s rise to billionaire status has been fueled by her beauty empire and strategic investments, Taylor Swift’s wealth is rooted in her music. This demonstrates how both stars have diversified their careers to become two of the youngest billionaires in the country.