News Mania Desk/ Piyal Chatterjee / 7th September 2024
Selena Gomez, an American actress, singer, and businesswoman, is now worth $1 billion, according to Bloomberg, which pegs her net worth at $1.3 billion. The 32-year-old’s riches is derived in part from her acting, singing, and brand partnerships, but the “vast bulk” of her money is attributed to Rare Beauty, her 5-year-old makeup firm, according to the site. Alongside celebrities like Taylor Swift and Rihanna, she is now considered one of the “youngest self-made” billionaires on the Bloomberg Billionaire Index thanks to the popularity of her company.
The ‘Only Murders in the Building’ singer has reportedly accumulated money as well, ranking third globally in terms of Instagram followers, behind sports legends Lionel Messi with 505 million and Cristiano Ronaldo with 639 million.
Even though she has achieved success on television, such success only makes up a small portion of her riches. Her 2020 launch of Rare Beauty is responsible for the “vast bulk” of her wealth. According to reports, the brand generated $400 million in net sales in the year ending in February. According to reports, she also approached investors about Rare Beauty, requesting a $2 billion valuation.
Ms. Gomes disclosed in 2020 that she had been diagnosed with bipolar disorder. She went on to say in an interview that any agreement reached with her needed to include a mental health or charitable component. In order to help people obtain access to mental health services, she established the Rare Impact Fund with the goal of raising $100 million.
The 32-year-old’s other sources of income include a smaller portion from her music royalties and money from her show “Only Murders in the Building,” which was just extended for a fifth season and reputedly brings her $6 million annually.
