American pop star Selena Gomez has officially joined the billionaire ranks, according to Bloomberg’s Billionaires Index. The actress, singer, and entrepreneur has built an estimated $1.3 billion fortune, largely thanks to her successful Rare Beauty brand, as well as her music career and popular TV shows.
Bloomberg reports that over 80% of Gomez’s wealth comes from her ownership in Rare Beauty Brand Inc. Her financial success is also bolstered by brand partnerships, acting roles, and ventures into mental health startups.
Gomez first gained fame as a child star in the 2000s, earning around $3 million for her role as Alex Russo on Disney Channel’s “Wizards of Waverly Place” from 2007 to 2012. She later launched a successful music career with her band Selena Gomez & the Scene and as a solo artist.
Despite her massive Instagram following—424 million, making her the third most popular person on the platform behind Cristiano Ronaldo and Lionel Messi—music tours have only contributed a small fraction to her wealth.
Album and record sales account for less than 2%, and she hasn’t toured since 2016. Most of her $1.1 billion fortune comes from her stake in Rare Beauty.
Leave a comment