Selena Gomez Reaches Billionaire Status from Various Business Ventures Including Rare Beauty: Report
Bloomberg Billionaires Index named Gomez one of the youngest female self-made billionaires in the United States
When you’re ready, Selena Gomez, come and get your billionaire title.
The singer, actress and businesswoman, 32, has surpassed billionaire status, according to the Bloomberg Billionaires Index, as the outlet reported she’s worth $1.3 billion — making her one of the youngest female self-made billionaires in the United States.
Gomez’s wealth reportedly comes from her various business ventures, with the outlet stating more than 81% of her money is in her Rare Beauty cosmetics brand.
Other major income sources include — from most to least prominent — endorsements, touring, her mental health startup Wondermind, albums, acting, streaming and real estate, per the outlet.
Since appearing on many fans’ televisions for the first time through her childhood stint on Barney & Friends, Gomez has starred in various shows including Wizards of Waverly Place and Only Murders in the Building. She’s also acted in films like Spring Breakers, Hotel Transylvania and the upcoming Emilia Pérez.
As a musician, she’s notched three No. 1 albums on the Billboard 200 as well as several top-5 singles on the Billboard Hot 100, such as “Good for You” with A$AP Rocky, “Same Old Love,” “Lose You to Love Me” and “Calm Down” with Rema.
According to The Business of Fashion, Gomez’s Rare Beauty has surpassed $400 million in net sales (as of March) since its September 2020 launch.
In May, however, she shut down rumors she was selling the brand. “I don’t have any plans on that, genuinely,” she told Time.
Gomez also spoke to the outlet about trying to keep the brand’s revenue out of her head. “I have this weird thing in my head where if I focus on the numbers, I’ll lose whatever it is that made Rare Beauty Rare Beauty,” she said.
“I never wanted it to be about making a lot of money and that’s it,” added the “My Mind & Me” singer.
Earlier this year, Forbes reported Gomez’s friend, Taylor Swift, reached billionaire status due to her ongoing Eras Tour, extensive song catalog and real estate portfolio.
At the time, the outlet said Swift was the only musician to earn the feat solely based on music and live performances, as the Eras Tour has surpassed $1 billion in revenue since its March 2023 launch.
