American pop star, Selena Gomez, has officially become a billionaire, according to Bloomberg’s Billionaires Index.
The 31-year-old actress, singer, and entrepreneur has amassed an estimated $1.3 billion fortune from her lucrative business ventures, including her Rare Beauty brand, music, and hit shows.
Gomez’s wealth is largely attributed to her stake in Rare Beauty Brand Inc., which accounts for more than 80% of her net worth, approximately $1.1 billion. The brand, which she launched in 2020, has become a huge success, with its products being sold in over 45 countries worldwide.
In addition to her beauty brand, Gomez has also earned millions from brand partnerships, acting deals, and mental-health startups. Her music career, which took off in the late 2000s, has also contributed to her wealth, although music tours and album sales account for less than 5% and 2% of her fortune, respectively.
Gomez’s rise to fame began as a child star in the 2000s, with her breakout role as Alex Russo in the Disney Channel’s Wizards of Waverly Place, for which she reportedly earned around $3 million from 2007 to 2012. She then launched a successful music career, first with the pop-rock band Selena Gomez & the Scene and then as a solo artist.
With 424 million followers on Instagram, Gomez is one of the most popular celebrities on social media, ranking behind only football icons Cristiano Ronaldo and Lionel Messi. Her massive following has undoubtedly contributed to her wealth, as she has leveraged her influence to promote her brand and other business ventures.
