new york
CNN
—
Selena Gomez can add being a billionaire to her long list of accomplishments.
The 32-year-old actress, singer, investor and entrepreneur has achieved a significant financial milestone, becoming one of the youngest self-made billionaires in the United States, according to Bloomberg, which values her net worth at $1.3 billion.
While some of the “Only Murders in the Building” star’s wealth comes from singing, brand partnerships and acting, the “vast majority” of her wealth is tied to Rare Beauty, the five-year-old cosmetics brand that has become a success among influencers and teens, the magazine revealed on Friday.
Gomez’s net worth is based on her stake in the beauty brand, according to Bloomberg’s “estimated value,” as well as her investment in mental health platform Wondermind, as well as income from music, acting, real estate and social media posting partnerships (including her 424 million Instagram followers).
Her popularity on Instagram has made her the third most followed person on the platform behind soccer icons Cristiano Ronaldo (638 million) and Lionel Messi (504 million), and helped her land big endorsement deals with Puma (a reported $30 million) and Coach ($10 million).
But her fanbase also benefited her Rare Beauty line, positioning her among the celebrity-driven cosmetics brands dominated by Rihanna and the Kardashian family. Gomez has also reportedly approached investors for Rare Beauty, seeking a $2 billion valuation.
The former child star’s other sources of income include her Hulu show “Only Murders in the Building,” which was just renewed for a fifth season, where she makes $6 million per season, according to Bloomberg, and a smaller amount from music royalties.
