Selena Gomez, who began her career as a child star on Barney and the Disney Channel, has now reached billionaire status at the age of 32. According to Bloomberg, her fortune has reached an estimated $1.3 billion, largely driven by the success of her Rare Beauty makeup company.
Founded five years ago, Rare Beauty has become a major player in the beauty industry, with Selena retaining a stake in the brand valued at over $1 billion. Her accomplishment places her among the youngest female self-made billionaires, joining the ranks of other influential women such as Taylor Swift and Rihanna.
Rare Beauty has garnered widespread acclaim, particularly for its liquid blush and lip tint products, which have gone viral on social media. In the year leading up to February, the brand reportedly achieved net sales of $400 million, showcasing its massive influence in the beauty market.
While Selena has had success in acting and music, her entrepreneurial ventures, particularly Rare Beauty, have contributed the most to her growing wealth. Her brand’s ability to resonate with consumers has solidified her position as a powerful businesswoman in the beauty industry.
In addition to her business success, Selena has earned millions through endorsement deals with high-profile brands like Louis Vuitton, Coach, and Puma. Her acting career, particularly her role in the Hulu hit Only Murders in the Building, has also been lucrative.
According to reports, she earns at least $6 million per season for her role in the Emmy-nominated series, which was recently renewed for a fifth season. However, despite her success in acting and music, these contributions account for a relatively small portion of her wealth, with her business ventures playing a more significant role.
Beyond her financial success, Selena’s personal life and health struggles have also been highly publicized. Born in Texas, she has been in the public eye for nearly three decades, facing scrutiny over her relationships, fashion choices, and health challenges.
She has been open about her battles with bipolar disorder and lupus, and has written about her family’s immigration journey from Mexico, providing insight into her background and personal experiences. Despite the challenges, she continues to be a prominent figure in both the entertainment and business worlds.
Selena has also achieved significant influence on social media, becoming the most followed woman on Instagram in 2023, with over 424 million followers. This places her ahead of other social media giants like Taylor Swift and Kylie Jenner.
However, she has also been vocal about the negative impact of social media on mental health, even deleting her Instagram account at times to prioritize her well-being. Despite her massive following, she remains cautious about the platform’s influence on her mental health.
As news of her billionaire status spread, Selena’s Instagram account remained quiet, reflecting her occasional distancing from the platform. In a BBC1 interview nearly a decade ago, she joked about her longevity in the entertainment industry, having been in the spotlight for almost two decades by then.
Despite her early success, she expressed the feeling that she hadn’t yet fully started her career, signaling that there is still much more she hopes to achieve in the years to come.
