Selena Gomez joins the billionaire club: how she makes her money and her rise to fame
US-born singer, actress, and entrepreneur Selena Gomez has joined the billionaires club. At 32, her net worth stands at approximately $1.3 billion, largely due to her beauty brand, Rare Beauty. Indeed, such a journey of Gomez to billionaire status proves that her multi-faceted career, starting with acting, going on to music, then to entrepreneurship, and finally brand partnerships, has paid off.
Rarity of Beauty: Reason for Her Billionaire Status
And what contributed most to such a big fortune of wealth in Selena Gomez’s account is her beauty brand, “Rare Beauty.” It just swept through the beauty world. Founded in the year 2020, the brand works for self-acceptance and inclusivity, for its motive quite resonated with people all over the world. It racked up $400 million in net sales alone in a year, and further its growth isn’t slowing down. That success has put her on pace to join the exclusive club of one of the youngest self-made billionaires, a list that includes icons like Rihanna and Taylor Swift.
This February, Gomez tried to value Rare Beauty at $2 billion, a hike from its financial success and leading charge in beauty.
Other Ventures: Wondermind, Music, And More
Although Rare Beauty remains the bulk of her fortune, the sources behind Selena Gomez’s wealth actually run rather deep. She’s a stakeholder in mental health startup Wondermind, which aims to support mental wellbeing through resources and content. This has also been one of the contributing factors in her rising net worth.
Meanwhile, Gomez receives active income from her music, streaming deals, concert tours, acting projects, and real estate investments. Of course, she also earned a share in the proceedings of her very successful music career, with several albums and singles. Furthermore, her acting career was translated into net worth, especially when headlining hit series like Only Murders in the Building.
Social Media Influence and Brand Partnerships
Besides these, her influence on social media made a big difference in her financial success. Indeed, she was ranked as the third most followed celebrity on Instagram, aside from Cristiano Ronaldo and Lionel Messi, with 424 million followers. Her huge online presence has driven her to be the hot figure in front of brand partnerships and endorsements, boosting her income even further.
Through it all, Gomez has partnered with everyone from giant fashion houses to lifestyle products. In addition to her social media reach, these have been major moneymakers for the star.
A Long Way from Disney to Global Stardom
The Disney Channel launched Selena Gomez into the celebrity world with Wizards of Waverly Place, from 2007 until 2012. That hurled her into the high beam of publicity as Alex Russo and set her course to launch an acting and music career.
Since then, Gomez went from a Disney darling to an international star. The next step in her career will be going back to her roots when the new sequel series, Wizards Beyond Waverly Place, premieres on Oct 29. She was also set to pop up in Only Murders in the Building, which was just renewed for season five.
Conclusion: The Selena Gomez Empire Continues to Grow
The journey of Selena Gomez-from Disney Channel covers to one of the successful entrepreneurs-has been nothing but remarkable. Her beauty brand, Rare Beauty, was among those game-changing hits that catapulted her into billionaire status. With a few streams of revenue coming into her accounts courtesy of her music, acting projects, and business ventures, Gomez has built an empire that keeps growing and further cements her position as one of the most influential figures across both the entertainment and business worlds.
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