Selena Gomez has officially joined the billionaires’ club, with Bloomberg estimating her net worth at $1.3 billion as of Friday, September 6. The outlet highlighted her beauty brand, Rare Beauty, as a key factor in her rise to billionaire status. Gomez launched Rare Beauty in February 2019, expanding her role beyond acting and singing to include entrepreneurship.
According to the outlet, more than 80% of Selena Gomez’s fortune comes from her majority ownership in Rare Beauty. The beauty brand has also emerged as a significant force in the influencer-driven market.
Selena Gomez has joined her close friend Taylor Swift on the billionaire list, making them the youngest self-made billionaires. While Gomez’s fortune stems from her beauty brand and investments, Swift reached billionaire status in October 2023, primarily due to the immense success of her Eras Tour.
Swift’s music empire has been a major contributor, with her catalog valued at $400 million in 2019, alongside $370 million from the record-breaking tour, $160 million from streaming, and nearly $100 million from album sales.
In addition to her beauty brand, Gomez’s billionaire status is attributed to her real estate investments, involvement with Wondermind, income from her music and acting careers, and lucrative brand partnerships. Joining the billionaire list is just one of Selena’s many recent accomplishments.
Additionally, Selena Gomez’s popular show Only Murders in the Building has been renewed for a fifth season. As per Page Six, Selena also ranks as the third most-followed person on Instagram and reportedly commands up to $30 million per endorsement.
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