Selena Gomez now a billionaire, Bloomberg confirms

Selena Gomez has officially joined the billionaires' club, with Bloomberg estimating her net worth at US $1.3 billion as of Friday (September 6). The publication highlighted her beauty brand, Rare Beauty, as a significant factor in reaching this milestone. Gomez stepped into the role of entrepreneur in February 2019 when she launched Rare Beauty, adding it to her successful careers as both an actress and singer.

According to reports, more than 80% of Selena Gomez's wealth comes from her majority ownership in Rare Beauty. The beauty brand has also established itself as a key player in the influencer market. Marketing expert Stacy Jones told the outlet, "Selena is not just a pop star. She's a multifaceted businesswoman with diverse income streams contributing to her impressive net worth."

In addition to her beauty brand, Gomez's billionaire status is attributed to her investments in real estate, Wondermind, her earnings from singing and acting, and lucrative paid partnerships. Joining the billionaire list is just one of the many recent accomplishments of the "Vulnerable" singer.

Gomez's popular series "Only Murders in the Building" has been renewed for a fifth season, and she ranks as the third most-followed individual on Instagram. According to Page Six, she commands up to $30 million for a single endorsement deal.

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The famed star has now joined her close friend Taylor Swift on the list of billionaires, becoming the youngest self-made billionaire in the process. Gomez achieved this milestone through her beauty brand and various investments, while Taylor Swift reached billionaire status with the immense success of her Eras Tour. 

Taylor was officially recognised as a billionaire in October 2023, thanks to her extensive music empire. By 2019, her music catalog was valued at $400 million, and she earned $370 million from her record-breaking tour, $160 million from streaming, and nearly $100 million from record sales.

In 2023, Taylor Swift's net worth was estimated at US $1.1 billion. Since then, she has released a new album and launched an international tour.