Selena Gomez is now one of the youngest, self-made female billionaires in America, according to Bloomberg’s billionaire index on Friday, September 6.
The financial software and media company included the 32-year-old singer and actress to the list, after the huge success of her cosmetic brand, Rare Beauty. Bloomberg estimates that the beauty brand is at least worth USD1 billion.
Before venturing to several fields, Selena began as a child actress. Her first acting gig was for Barney & Friends. She then had her own Disney show, Wizards of Waverly Place, and starred in Spring Breakers, and the Hotel Transylvania franchise.
Alongside her acting career, Selena also released three albums with her band, Selena Gomez & the Scene, before releasing three solo album records.
According to Bloomberg’s data, a huge chunk of the popstar’s wealth came from Rare Beauty. Since its launch in 2020, the brand has been continuously lauded for its viral success, especially for the Generation Z. Bloomberg estimates that the brand alone has already acquired USD billion. The singer also launched Wondermind, a platform where people can find mental health resources, the same year.
However, Selena’s success also came from several roles she played in the industry. In the three decades that she spent in the public eye, she has made a name for herself through her numerous viral songs, acting gigs, and endorsement deals.
Bloomberg said that her endorsement deals with Louis Vuitton, Coach, and Puma were beneficial to the accumulation of her net worth. Moreover, the Emmy-nominated show, ‘Only Murders in the Building’, was recently renewed for a fifth season.
Selena’s venture into business and philanthropy was amplified by her existing influence as a celebrity, Bloomberg suggested. Through her influence, she was able to create and connect with people by showing her vulnerability. A nod to what Rare Beauty stands for; “owning what makes you rare.”
