American pop star Selena Gomez has officially become a billionaire, according to Bloomberg’s Billionaires Index. The 32-year-old actress, singer, and entrepreneur has amassed an estimated $1.3 billion fortune, primarily through her successful Rare Beauty brand.
Gomez’s net worth is attributed to her stake in Rare Beauty Brand Inc., which accounts for over 80% of her wealth. In addition to her beauty empire, she has also earned money through brand partnerships, acting deals, and mental-health startups.
The former Disney Channel star rose to fame in the 2000s, earning around $3 million for her role as Alex Russo in the hit show “Wizards of Waverly Place.” She later launched a music career, first with the pop-rock band Selena Gomez & the Scene and then as a solo artist.
With 424 million followers, Gomez is one of the most popular people on Instagram, behind only Cristiano Ronaldo and Lionel Messi. However, music tours and album sales contribute less than 5% and 2% to her wealth, respectively.
Gomez’s success with Rare Beauty has cemented her status as a billionaire, joining the ranks of other celebrity entrepreneurs like Rihanna and Kylie Jenner. Her estimated $1.1 billion stake in the company makes up the bulk of her fortune.