Selena Gomez is a multi-talented figure: an actress, singer, chef, Instagram icon, and close friend to Taylor Swift.
Now, the star of “Only Murders in the Building” has achieved another milestone: she is one of America’s youngest self-made female billionaires.
At 32, Gomez has amassed a net worth of $1.3 billion.
Over 80% of her net worth is attributed to her Rare Beauty cosmetics brand. Additionally, she earns income from her acting and singing careers, as well as her collaborations with brands like Coach, Louis Vuitton, and Puma.
“Selena is not just a pop star,” Stacy Jones, founder and CEO of Hollywood Branded, a Los Angeles-based branding agency.
“She’s a multifaceted businesswoman with diverse income streams contributing to her impressive net worth.”
Importantly, Gomez is also candid about her personal life, including her battles with lupus and bipolar disorder.
In 2022, she released the documentary “My Mind and Me,” which explores her journey with mental illness.
The year before, she launched Wondermind, a platform that connects people with mental health resources.
“You’ve got a real role model of how a celebrity can use their influence and expertise to both do good and create good business,” Wondermind investor Brent Saunders told. “Selena epitomizes that.”
While many celebrities have their own cosmetics lines, the remarkable success of Rare Beauty is often credited to Gomez’s openness about her struggles.
“We really tried to absorb as much as we could about what makes her so special and why people love her so much, and that’s kind of where the essence started,” Rare Beauty Chief Digital Officer Mehdi Mehdi told Women’s Wear Daily regarding the company’s branding.
“The more we got into it, her vulnerability was the thing that kept coming up,” Mehdi added.
“She’s been so open and honest about who she is and some of the struggles that she goes through and the challenges, and there was a sense of just everyone could see themselves in her.”
It is estimated that, aside from Rare Beauty, about seven percent of Gomez’s net worth comes from endorsements, around five percent from touring, and just under three percent from Wondermind.
The rest of her wealth is linked to album sales, streaming, acting, and real estate investments.
