SELENA Gomez has joined the rank of her bestie, Taylor Swift, and is officially a billionaire.
The actress now has a net worth of $1.3 billion thanks to her makeup brand, Rare Beauty.
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Bloomberg Billionaires Index, which first reported the star’s new net worth, also credited the accomplishment to Selena‘s acting and singing career.
However, the “vast bulk” comes from Rare Beauty, which she founded in 2020.
“Selena is not just a pop star,” Stacy Jones, founder and chief executive officer of Hollywood Branded, a Los Angeles-based branding agency, told the outlet.
“She’s a multifaceted businesswoman with diverse income streams contributing to her impressive net worth.”
READ MORE ON SELENA GOMEZ
Selena, 32, now joins her best friend, Taylor, 34, who also became a billionaire this year, thanks to her record-breaking The Eras Tour.
The two met in 2008 when they were both dating Jonas Brothers and have remained best friends.
Taylor has amassed her fortune strictly through music and touring, while Selena has her hands in different ventures.
Selena’s music is a relatively small part of her wealth and is paid mostly for performance realities.
However, Stacy shared that if Selena wrote her own songs, her music earnings could double.
The former Disney Channel star is currently starring in Hulu‘s Only Murders in the Building with Steve Martin and Martin Short, which was just renewed for Season 5.
Selena is also involved with brand partnerships and her mental health start-up Wondermind.
All of these factors help continue to build her net worth if she ever decides to step away from the industry.
‘REAL ROLE MODEL’
Brent Saunders, CEO of eye-health company Bausch + Lomb Corp and an investor in Gomez’s Wondermind startup told Bloomberg that authenticity is the key to Selena’s success.
“You’ve got a real role model of how a celebrity can use their influence and expertise to both do good and create good business,” he said.
Selena Gomez Albums
Although Selena is known for being more than a singer, she has created music that stand the test of time, including songs like Calm Down, Who Says, Love You Like a Love Song, Hands to Myself, and more. Here are the albums she has released solo and with her band, Selena Gomez and the Scene.
Kiss & Tell- Selena Gomez & The Scene, September 2009, featured the songs Naturally and Falling Down
A Year Without Rain – Selena Gomez & The Scene, September 2010, included Round & Round and the title track
When the Sun Goes Down – Selena Gomez & The Scene, June 2011, Who Says and Hit The Lights were released from the album
Stars Dance – July 2013, features singles Come & Get It and Slow Down
Revival – October 2015, included songs Same Old Love and Good For you
Rare – January 2020, sparked the singles Lose You to Love Me and Look At Her Now
Revelación- Spanish EP, March 2021
“Selena epitomizes that.”
The outlet took many factors into account for Selena to reach this milestone including the “lowest estimated value of her stake in Rare Beauty, her interest in Wondermind, the estimated value of her album sales and properties, and earnings from streaming deals, brand partnerships, concert tickets, and acting.”
ABOUT RARE MAKEUP
Selena launched Rare Beauty, a vegan and cruelty-free makeup line, in 2019.
According to the website’s logline, Rare Beauty is “made to feel good in, without hiding what makes you unique.”
“Because Rare Beauty is not about being someone else, but being who you are.”
The line features dozens of products from lip gloss to blush to powders, bronzers, body wash, fragrance mist, under-eye patches, and more.
$1.1 billion is earned from Rare Beauty from Selena’s independent stake in the company.
She holds a 51 percent majority interest based on her founding role in Rare Beauty.
The name is based off Selena’s 2020 album Rare.
SELENA’S BILLION-DOLLAR CAREER
Selena began her career in entertainment when she appeared on Barney and Friends from 2002 to 2004 as Gianna.
She then skyrocketed to fame when she played Alex Russo in the hit Disney Channel show, Wizards of Waverly Place.
Selena is set to reprise her role later this year in the revival of Wizards Beyond Waverly Place.
The show earned her $3 million in total.
The actress then ventured into singing after providing the theme song for Wizards.
She formed the pop-rock band Selena Gomez & the Scene and later went solo, releasing six albums in total.
Selena went on to act in other Disney Channel shows and then ventured out of the company to star in Spring Breakers, Emilia Perez, Neighbors 2: Sorority Rising, Only Murders in the Building, and more.
With 424 million followers, the makeup mogul is the third most followed person on Instagram, behind soccer legends Cristiano Ronaldo and Lionel Messi.
Her following allowed her to partner with and promote brands such as Puma SE, Coach, and Louis Vuitton.
Selena hasn’t toured since 2016, after abruptly canceling her Revival Tour, due to mental health struggles.
However, that tour amassed $30 million.
“It’s smart that she’s kind of created a career that’s not so dependent on music being a big part of the financial piece,” Carolyn Sloane, a professor at the University of Chicago’s Harris School of Public Policy, told Bloomberg.
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