Selena Gomez joins billionaire celebrity rich list

Selena Gomez, who initially captured the public’s attention as a child star on “Barney & Friends” and Disney Channel, has now achieved a remarkable new milestone: billionaire status. At 32 years old, Gomez has accumulated a net worth of $1.3 billion, according to Bloomberg’s latest billionaire index.

Gomez’s considerable wealth primarily stems from her successful venture into the beauty industry with Rare Beauty, a company she founded five years ago. The publication estimates her stake in Rare Beauty to be valued at over $1 billion, highlighting its tremendous impact on her financial status. Rare Beauty has become renowned for its viral liquid blush and lip tints, which have significantly boosted its sales, reportedly reaching $400 million in the year leading up to February.

Her entry into the billionaire category places Gomez among the youngest self-made female billionaires, joining other notable figures like Taylor Swift and Rihanna. Beyond her achievements with Rare Beauty, Gomez has also secured substantial income from various endorsement deals. She has partnered with major brands such as Louis Vuitton, Coach, and Puma, further diversifying her revenue streams.

In addition to her business ventures, Gomez has earned considerable sums from her acting career. She reportedly earns at least $6 million per season for her role in the acclaimed Hulu series “Only Murders in the Building,” which has recently been renewed for a fifth season. Despite these significant earnings and multiple Emmy and Grammy nominations, the majority of her wealth is attributed to her entrepreneurial success rather than her entertainment career.

Born and raised in Texas, Gomez has been in the spotlight for nearly three decades. Her public life has often been subject to scrutiny, including her fashion choices, relationships, and health struggles. Gomez has openly shared her battles with bipolar disorder and lupus, contributing to a deeper understanding of her personal challenges.

In addition to her financial and professional achievements, Gomez has a notable presence on social media. Last year, she became the most-followed woman on Instagram, boasting over 424 million followers, surpassing other celebrities like Taylor Swift and Kylie Jenner. Despite this immense online following, Gomez has been candid about the negative effects of social media on her mental health, occasionally taking breaks from the platform to manage its impact on her well-being.

Reflecting on her career in an interview nearly a decade ago, Gomez expressed a sense of disbelief at her long-lasting success despite her youth. “It’s weird it’s almost two decades…am I too old?” she joked, revealing her ongoing ambition and desire to achieve more. “You know what’s crazy, is that a lot of times I don’t even feel I’ve started,” she admitted.

Selena Gomez’s journey from a beloved child star to a billionaire entrepreneur underscores her remarkable versatility and resilience. As she continues to evolve both personally and professionally, her story remains a testament to her enduring talent and business acumen.