Selena Gomez has officially hit the big leagues, becoming a billionaire at 32 – and it’s all thanks to her booming beauty brand, Rare Beauty. The star’s net worth skyrocketed to a staggering $1.3 billion, according to the Bloomberg Billionaires Index. While Selena’s singing and acting career contributed to her fortune, the “vast bulk” of her wealth comes from Rare Beauty, which she launched in 2020.
“Selena is not just a pop star,” said Stacy Jones, CEO of Hollywood Branded. “She’s a multifaceted businesswoman with diverse income streams contributing to her impressive net worth.”
Selena’s latest milestone puts her in the same league as her BFF, Taylor Swift, who also joined the billionaire club this year, largely due to her blockbuster Eras Tour. While Taylor’s fortune comes strictly from her music and touring, Selena has her hands in multiple pies – from acting to brand partnerships and her mental health startup, Wondermind.
“Selena’s authenticity is key to her success,” said Brent Saunders, CEO of Bausch + Lomb Corp and an investor in Wondermind. “She’s a real role model of how a celebrity can use their influence to do good and create good business.”
The bulk of Selena’s empire is built on her 51% majority stake in Rare Beauty, which rakes in a jaw-dropping $1.1 billion. Launched in 2019, the brand quickly became a hit, offering vegan, cruelty-free products that embrace individuality.
With her acting gig on Hulu’s Only Murders in the Building, a thriving beauty line, and millions of adoring fans, it looks like Selena is just getting started. Not bad for a former Disney star!
