Selena Gomez officially turns billionaire, thanks to her makeup brand

Selena Gomez has officially joined the ranks of billionaires, adding to her extensive list of accomplishments.

According to Bloomberg, the 32-year-old singer, actress, and entrepreneur is now worth an estimated $1.3 billion, making her one of the youngest self-made billionaires in the United States.

While Gomez has earned considerable wealth from her singing, acting, and brand partnerships, Bloomberg reports that most of her fortune comes from Rare Beauty, her successful makeup brand.

This brand has gained immense popularity, particularly among influencers and teenagers. Launched five years ago, Rare Beauty is a driving force behind her financial success.

Gomez’s net worth includes her stake in Rare Beauty, her involvement in the mental health platform Wondermind, and earnings from her music, acting, and lucrative social media partnerships. With 424 million Instagram followers, she ranks as the third most followed person globally, behind football legends Cristiano Ronaldo and Lionel Messi.

Her massive following has enabled her to secure high-value endorsement deals, such as a $30 million contract with Puma and a $10 million deal with Coach.

Gomez's influence extends beyond endorsements. Her social media presence has helped boost Rare Beauty, positioning her in the same league as celebrity-led beauty brands like Rihanna and the Kardashians. Additionally, reports suggest that Gomez is exploring opportunities to secure a $2 billion valuation for Rare Beauty.

Apart from her beauty empire, Gomez earns significant income from her hit Hulu show Only Murders in the Building, which has been renewed for a fifth season. Her earnings reach $6 million per season.

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