Selena Gomez has officially reached billionaire status, proving she's more than just an actress and singer! This is no doubt, with her journey from when she was a teen actress until she became a global mogul spanning various industries.
According to Bloomberg, Selena's net worth is $1.3 billion. Her wealth stems from multiple ventures, but the "vast bulk" is credited to her beauty brand, Rare Beauty. Founded in February 2019, it has become a massive hit in the beauty industry, especially within the influencer marketplace. Thanks to her majority stake in the company, it contributes over 80% of her wealth. This success solidified Selena's position as one of the youngest self-made billionaires in the United States.
More Than Just Rare Beauty
Selena Gomez / Instagram
This financial triumph isn't solely from her cosmetics empire, though. The 32-year-old's portfolio in 2024 also boasts investments in many different areas. Along with her successful beauty brand, her income includes investments in Wondermind, a mental health platform she co-founded, her real estate portfolio, music and acting earnings, and paid partnerships. Her role in the Hulu series "Only Murders in the Building" continues to showcase her acting talent, with the show being renewed for a fifth season. And let's not forget her massive social media presence—she's the third most-followed person on Instagram, reportedly earning $30 million per endorsement deal! Marketing expert Stacy Jones even described Selena as a "multifaceted businesswoman," highlighting how her earnings come from various sources.
Billionaire Besties
Selena Gomez / Instagram
Her newfound billionaire status places her alongside her BFF Taylor Swift, who reached the same milestone in October 2023, thanks largely to her record-breaking Eras Tour. While Taylor's financial empire is heavily music-centric—her catalog alone was worth around $400 million in 2019—Selena has diversified her assets. Taylor also boasts impressive earnings from her tour, streaming, and record sales, with her net worth reaching approximately $1.1 billion as of 2023, only to grow with new music releases and additional tour stops.
What makes Selena's billionaire status particularly noteworthy is her label as one of the country's youngest self-made billionaires. Her journey to such a feat is a testament to her strategic planning and a keen eye for opportunities that extend well beyond the glitter of Hollywood. Although she grew up in the limelight, she didn't stick to it solely but used it as a stepping stone to shine in many more areas. Whether it's her tactical move into the beauty industry or her investments in mental health initiatives, she has proven that her talents and business acumen go hand in hand.
Selena Gomez / Instagram
As these stars continue redefining what it means to be powerhouses in their respective fields, they are not just setting records but inspiring a generation of young women to dream big and diversify their ambitions. Selena hitting the headlines for her ascent to billionaire status is more than just a personal victory; it is a landmark moment in celebrating women's success in business, entertainment, and beyond.
