Selena Gomez, the renowned actress and singer, has recently achieved billionaire status, largely due to her highly successful makeup brand. According to Bloomberg, Gomez, known for her role in “Only Murders In the Building,” is now one of the youngest self-made female billionaires in the United States, with an estimated net worth of $1.3 billion. Of that wealth, approximately $1.1 billion is attributed to Rare Beauty Brands Inc., her five-year-old cosmetics line.
Gomez is not alone in this trend, as fellow pop star Rihanna reached billionaire status in 2021 through her makeup brand, Fenty Beauty. In addition to her beauty brand, Gomez generates income from various streams, including brand partnerships, acting, music sales, streaming revenues, and her investment in the mental health startup, Wondermind. Her partnerships with high-profile brands such as Coach, Louis Vuitton, and Puma SE have significantly contributed to her financial success. Furthermore, she earns a minimum of $6 million per season from her role in “Only Murders.”
Stacy Jones, CEO of branding agency Hollywood Branded, highlighted Gomez’s versatility as a businesswoman with multiple income sources that bolster her impressive net worth. Brent Saunders, the CEO of Bausch + Lomb Corp and an investor in Wondermind, praised Gomez as a role model for celebrities, showcasing how they can leverage their influence to make a positive impact while also building a successful business.