How Rare Beauty helped Selena Gomez storm the billionaire club
Selena Gomez (32) has officially entered the billionaires' club with a net worth estimated at $1.3B as of Friday, per Bloomberg. A significant portion of this wealth is attributed to her successful beauty brand, Rare Beauty, which was launched in February 2019. In addition to her striking career as a Hollywood singer and actor, Gomez's entrepreneurial efforts have played a pivotal role in her financial success.
'Rare Beauty' contributes to 80% of Gomez's wealth
Bloomberg's report revealed that more than 80% of Gomez's wealth comes from her majority stake in Rare Beauty. The brand has become a powerhouse in the beauty and influencer markets. Marketing expert Stacy Jones stated, "Selena is not just a pop star. She's a multifaceted businesswoman with diverse income streams contributing to her impressive net worth."
Gomez's diverse income streams fuel her billionaire status
Beyond Rare Beauty, Gomez's billionaire status is also fueled by her investments in real estate, her mental health platform Wondermind, earnings from her music and acting careers, and lucrative paid partnerships. Her recent accomplishments include the renewal of her hit series Only Murders in the Building for a fifth season and maintaining her status as the third most-followed person on Instagram.
Gomez reportedly earns up to $30 million per endorsement deal
Gomez reportedly earns up to $30 million per endorsement deal, according to Page Six. Bloomberg's Billionaires Index is ranking Gomez for the first time, recognizing her for building a diverse business empire that extends far beyond her entertainment career. Unlike her close friend Taylor Swift, who became a billionaire through her music, Gomez's fortune stems from businesses, social media influence, and investments.
Comparison of Swift and Gomez's wealth
Gomez now joins Swift on the billionaires' list, marking her as one of the youngest self-made billionaires. While Gomez's wealth has primarily come from Rare Beauty and investments, Swift's ascent was driven by her music empire, including the Eras Tour, which reportedly earned her $370 million. As of 2023, Swift's net worth was estimated at $1.1B, largely from her music catalog, streaming revenue, and record sales.
