Selena Gomez, the former child star who rose to fame on Barney and the Disney Channel, has now achieved a new milestone – she is officially a billionaire. At just 32 years old, the actress and singer has amassed a fortune worth $1.3 billion, according to Bloomberg.
Gomez’s wealth primarily comes from her successful make-up company, Rare Beauty, which she founded five years ago. The publication estimated that her stake in the company is worth more than $1 billion. Rare Beauty, known for its liquid blush and lip tint, has seen viral success on social media and reportedly did net sales of $400 million in the past year.
In addition to her beauty empire, Gomez has also raked in millions from endorsement deals with luxury brands like Louis Vuitton, Coach, and Puma. She has also earned a hefty paycheck from her acting career, including at least $6 million per season for her role in the Hulu hit “Only Murders in the Building”.
Despite her success in the entertainment industry, Gomez’s wealth far surpasses her on-screen and musical achievements. Bloomberg noted that her accomplishments count for only a small fraction of her overall fortune.
Born in Texas, Gomez has been in the public eye for nearly three decades, facing scrutiny over her fashion choices, relationships, and health struggles. She has been open about her diagnoses of bipolar disorder and lupus, as well as her family’s journey from Mexico to the US.
With over 424 million followers on Instagram, Gomez became the most followed woman in the world last year, surpassing the likes of Taylor Swift and Kylie Jenner. Despite her massive social media presence, she has spoken out about the negative impact of the platform on her mental health and has taken breaks from it at times.
As news of her billionaire status made headlines, Gomez remained quiet on social media. In a past interview, she reflected on her career longevity, joking about her age and expressing a desire to achieve even more in the future.
Selena Gomez’s journey from child star to billionaire serves as an inspiring example of hard work, determination, and entrepreneurial success in the entertainment industry.
