According to Bloomberg’s Billionaire Index, the Only Murders in the Building star’s net worth is now at a staggering US$1.3 billion.
Selena Gomez is an achiever. She is an accomplished singer-songwriter, a talented actress, and a successful businesswoman.
The 32-year-old counts among her long list of accolades are a Cannes Film Festival Award, an American Music Award, a Billboard Music Award, and two MTV Video Music Awards. She has also been nominated for seven Emmy Awards, two Grammy Awards, and two Golden Globe Awards.
A few days ago, she added another feat to this already impressive roster of accomplishments: She is now one of the youngest self-made billionaires. According to Bloomberg’s Billionaire Index, her net worth is now at a staggering US$1.3 billion.
Despite the Only Murders in the Building star’s on-screen and musical success, those achievements count for a relatively a small fraction of her wealth. The “vast bulk” of her net worth, according to Bloomberg, is tied to Rare Beauty, her 5-year-old makeup line that is a success with influencers and teens, the publication revealed Friday.
Selena’s wealth is based on Bloomberg’s “estimated value” of her stake in the beauty brand, plus her interest in the mental health platform Wondermind and various other earnings from her music, acting, properties, and money she makes from partnerships that she posts on social media, which includes her mammoth 424 million followers on Instagram.
Her popularity on Instagram makes her the third most followed person on the platform, just behind soccer icons Cristiano Ronaldo (638 million) and Lionel Messi (504 million), helping her rake in huge endorsements with Puma, reportedly worth $30 million, and Coach, a $10 million deal.
Her massive following and extremely devoted fanbase have catapulted her Rare Beauty line to heights previously reached only by celebrity makeup brands by Rihanna and the Kardashians. Selena has also reportedly reached out to investors for Rare Beauty, seeking a $2 billion valuation.
But the road to this enviable status was far from smooth. Having spent almost three decades in the public eye, Selena’s every move is scrutinized, especially her relationships. The 2020 Apple TV documentary film Selena Gomez: My Mind & Me charts the many ups, but mostly the many downs of the pop star’s decades-long career.
In 2020, the former child star revealed that she was diagnosed with bipolar disorder and later said in an interview with Entrepreneur that any deal struck with her “has to have an element that’s charitable or in the mental health space.” She started the Rare Impact Fund to help pool $100 million to help people gain access to mental health services.
Other revenue streams for Selena include income from her Hulu show Only Murders in the Building, which was just renewed for a fifth season (YAY!) where she reportedly earns $6 million a season, according to Bloomberg, and a smaller portion from her music royalties.
