Selena Gomez has amassed a fortune of US$1.3 billion and becomes one of the youngest billionaires in the US
(CNN) – Selena Gomez can now add the title of billionaire to her long list of achievements.
The 32-year-old actress, singer, investor and businesswoman has just reached the financial milestone that makes her one of the youngest self-made billionaires in the United States, according to Bloomberg, which values her net worth at US$1.3 billion.
Some of the “Only Murders in the Building” star’s wealth comes from music, brand partnerships and acting, but the “vast bulk” of her wealth is tied to Rare Beauty, her 5-year-old makeup line that’s a hit among influencers and teens, she revealed. publication this Friday.
Gomez's wealth is based on Bloomberg's “estimated value” of her stake in the beauty brand, plus her interest in the Wondermind mental health platform and various other earnings from his music, acting, property, and money he makes from collaborations he posts on social media, which includes his 424 million followers on Instagram.
Her popularity on Instagram makes her the third most followed person, behind football icons Cristiano Ronaldo (638 million) and Lionel Messi (504 million), which has helped her secure major sponsorship deals with Puma, for value of US$ 30 millionand Coach, for US$ 10 million.
But her followers have also helped her Rare Beauty line, putting it in the category of celebrity-led makeup brands dominated by Rihanna and the Kardashians. Gomez has also reportedly reached out to investors for Rare Beauty, seeking a valuation of $1.5 billion. US$ 2 billion.
In 2020, Gomez revealed that she was diagnosed with bipolar disorder and later said in an interview with Entrepreneur that any deal made with her “must have an element that is charitable or in the mental health realm.” She created the Rare Impact Fund to raise $100 million to help people access mental health services.
Other sources of income for the former child star include revenue from her Hulu show “Only Murders in the Building,” which was just renewed for a fifth season where she earns $6 million per season, according to Bloomberg, and a smaller portion of her music royalties.
Gomez's representative did not immediately respond to CNN's request for comment.
