Selena Gomez, the 32-year-old singer, actress, and entrepreneur, has officially joined the billionaire ranks, according to the Bloomberg Billionaires Index.
With an estimated net worth of $1.3 billion, Gomez becomes one of the youngest self-made female billionaires in the U.S.
Selena Gomez’s primary source of wealth comes from her cosmetics brand, Rare Beauty, which accounts for more than 81% of her fortune. Since its launch in September 2020, Rare Beauty has taken the beauty industry by storm, generating over $400 million in net sales by March 2024.
Known for promoting inclusivity and mental health awareness, the brand has resonated with consumers, leading to its massive success.
Beyond her beauty empire, Gomez’s wealth is diversified. She earns from her successful music career, including sales, streaming, and tours, along with her acting projects. She has also secured lucrative endorsement deals and made strategic real estate investments.
Additionally, Selena Gomez co-founded Wondermind, a mental health platform that adds another layer to her business ventures.
Rumors of a potential sale of Rare Beauty have circulated, but Gomez was quick to address them. In an interview with The Times in May, she clarified, “I don’t have any plans on that, genuinely,” dismissing the speculation surrounding her plans for the company.
Selena Gomez’s accomplishment comes shortly after her close friend, Taylor Swift, reached billionaire status earlier in 2024. Both women have made significant strides not only in their respective industries but also in building successful business empires, setting a new standard for young female entrepreneurs.
With her diverse portfolio and strong business acumen, Selena Gomez has firmly established herself as a leading figure in entertainment and entrepreneurship, inspiring millions around the globe.
Selena Gomez’s journey to becoming a billionaire highlights her remarkable business acumen, creativity, and dedication to uplifting others. From dominating the entertainment industry to building a thriving beauty empire, Gomez has solidified her status as a powerful entrepreneur.
Her success serves as an inspiration for young women everywhere, showing that with passion, persistence, and innovation, it’s possible to reach extraordinary heights. As she continues to grow her ventures, Gomez is poised to leave an enduring legacy in both business and pop culture.
