Selena Gomez has officially reached billionaire status, adding another major milestone to her already impressive career.
According to Bloomberg, the 32-year-old singer, actress, and entrepreneur is now worth approximately $1.3 billion, making her one of the youngest self-made billionaires in the U.S.
While Gomez has amassed wealth through her music, acting, and partnerships, the majority of her fortune comes from her successful makeup brand, Rare Beauty. Launched five years ago, Rare Beauty has become a massive hit, especially among influencers and teens, and is a major contributor to her financial success.
Gomez’s net worth also includes her investments in the mental health platform Wondermind, as well as her earnings from acting, music, and social media partnerships. With a massive following of 424 million on Instagram, she ranks as the third most followed person worldwide, right after Cristiano Ronaldo and Lionel Messi.
Her influence has secured high-profile endorsement deals, including a $30 million partnership with Puma and a $10 million contract with Coach. More than just endorsements, her strong social media presence has helped catapult Rare Beauty to the top, placing her brand alongside the likes of Rihanna’s Fenty and the Kardashian beauty empire.
Reports also suggest Gomez is working toward securing a $2 billion valuation for Rare Beauty, further solidifying her business success. On top of her beauty ventures, she earns a significant income from her popular Hulu series Only Murders in the Building, where she brings in $6 million per season. The show has already been renewed for its fifth season, continuing to boost her earnings.