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.
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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.
