At 32, former Disney Channel pop star and actress Selena Gomez has become one of the world's youngest billionaires, cashing in on her wildly successful beauty and cosmetics brand.
Gomez was recently valued at $1.3 billion by the Bloomberg Billionaires Index. According to Bloomberg News.
The bulk of Gomez's wealth comes from her stake in Rare Beauty, a cosmetics company she founded in 2020.
The “Only Murders in the Building” star has taken advantage of her massive social media following – with hundreds of millions of users across Instagram and TikTok – to sell beauty products such as mascara, liquid blush and eye brightener.
Earlier this year, it was reported that Gomez was considering a possible sale of his company, which is seen as an attractive target for mergers and acquisitions, at a valuation of $2 billion.
Gomez later He told Time magazine She has no plans to sell the company.
Rare Beauty's only known investors are New Theory Ventures and CEO Scott Friedman, who led Nyx Cosmetics before it was sold to L'Oreal for $500 million in 2014.
Gomez's net worth is estimated by Bloomberg to be at least 51% owned by her.
The rest of Gomez's wealth comes from endorsement deals, concert tours, album sales, acting, streaming royalties and real estate holdings, according to Bloomberg News.
Gomez gained public attention at an early age as part of the cast of “Barney & Friends.”
She then landed a leading role in the Disney Channel series Wizards of Waverly Place, which she starred in from 2007 to 2012.
However, it was through her music career that Gomez first rose to fame as the lead singer of pop rock band Selena Gomez & the Scene, and then later as a solo artist with a string of hits.
Gomez has also continued her acting career, appearing in films such as A Rainy Day in New York and Spring Breakers.
Along the way, Gomez has become a social media star, garnering 424 million followers on Instagram, the third-highest total behind soccer stars Cristiano Ronaldo and Lionel Messi.
Gomez's immense popularity has also landed her eight-figure endorsement deals with brands such as Puma, Louis Vuitton and Coach.
