Selena Gomez, the 32-year-old actress, singer, and entrepreneur, has officially entered the billionaire ranks, with an estimated net worth of $1.3 billion, according to Bloomberg. The bulk of her wealth comes from her booming cosmetics brand, Rare Beauty, which has taken the beauty industry by storm since its launch five years ago.
Rare Beauty, known for its viral products like liquid blush and lip tint, generated $400 million in net sales over the past year alone. Gomez’s stake in the company is now valued at over $1 billion, making it the primary driver of her newfound billionaire status.
In addition to her thriving beauty brand, Gomez has secured lucrative endorsement deals with major fashion houses such as Louis Vuitton, Coach, and Puma, further boosting her wealth. Her role in the Emmy-nominated Hulu series “Only Murders in the Building” has also been a financial success, earning her at least $6 million per season.
Despite her long career in entertainment, which began as a child star on the Disney Channel, Gomez’s music and acting ventures represent only a fraction of her total wealth. Instead, her strategic investments and entrepreneurial ventures have propelled her to become one of the youngest self-made female billionaires in the United States.
Gomez is also committed to philanthropy, particularly in the realm of mental health. She co-founded Wondermind, a mental health startup, and has pledged 1% of Rare Beauty’s sales to the Rare Impact Fund, which supports mental health services.
Selena Gomez’s rise to billionaire status is a testament to her business acumen and her ability to connect with a global audience, cementing her place as a powerful figure in both the entertainment and business worlds.
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