Selena Gomez’s rise to billionaire status is a testament to her remarkable success in both entertainment and business. According to Bloomberg, her wealth has reached $1.3 billion, primarily due to the success of her beauty brand, Rare Beauty.
Key Aspects of Gomez’s Billionaire Status:
- Rare Beauty: Founded five years ago, Rare Beauty has become a significant player in the cosmetics industry. The brand, known for products like liquid blush and lip tint, generated $400 million in net sales in the year leading up to February. Gomez’s stake in the company is valued at over $1 billion, contributing substantially to her net worth.
- Endorsement Deals: In addition to her success with Rare Beauty, Gomez has earned tens of millions from high-profile endorsement deals with brands such as Louis Vuitton, Coach, and Puma. These deals have further enhanced her financial standing.
- Television and Music: Gomez continues to earn substantial income from her acting role in Hulu’s “Only Murders in the Building,” where she reportedly earns at least $6 million per season. Despite her significant achievements in music and television, these contributions are a smaller portion of her wealth compared to her business ventures.
- Social Media Influence: With over 424 million Instagram followers, Gomez is one of the most influential figures on social media, though she has spoken about the platform’s negative impact on her mental health.
Gomez’s journey from a child star on “Barney & Friends” and Disney Channel to becoming one of the youngest self-made billionaires highlights her entrepreneurial acumen and the successful diversification of her career. Her ability to leverage her fame into a thriving business empire exemplifies her significant impact both in and out of the spotlight