Selena Gomez has officially achieved billionaire status, becoming one of the youngest billionaires in Hollywood with an estimated net worth of $1.3 billion, according to the Bloomberg Billionaire Index. The success of her makeup brand, Rare Beauty, has significantly contributed to her wealth, alongside her extensive career in entertainment that began with a breakout role in Disney Channel’s “The Wizards of Waverly Place.”
As one of the most-followed individuals on Instagram, Gomez ranks third globally, with 424 million followers, trailing only soccer legends Cristiano Ronaldo and Lionel Messi. Besides her business ventures, she has been involved in several popular TV and film projects, including the recently canceled Max cooking show “Selena + Chef” and the Hulu series “Only Murders in the Building,” where she stars alongside Martin Short and Steve Martin. She is also working on producing a reboot of her original show “Wizards.”
Rare Beauty, launched by Gomez, was inspired by her experiences in front of the camera and aims to empower individuals by celebrating their uniqueness. In her words, the products are about embracing who you are, whether you prefer a bold makeup look or a more natural appearance. A portion of all sales from the brand, alongside funds raised from partners, supports the Rare Impact Fund, which seeks to raise $100 million over the next decade to improve mental health services in underserved communities. Gomez has been a strong advocate for mental health awareness, further highlighted by her 2022 Apple TV+ documentary “Selena Gomez: My Mind and Me,” which explores her challenges with fame and mental health.