Selena Gomez becomes a billionaire thanks to rare beauty brand

Selena Gomez’s net worth has reached $1.3 billion, according to Bloomberg, making her one of the youngest self-made billionaires in the US. The 32-year-old’s wealth comes from a diverse range of sources, including:

1. Rare Beauty: Her makeup line, launched five years ago, contributes significantly to her net worth, with the “vast bulk” of her fortune coming from her stake in the company.

2. Wondermind: She is an investor in this mental health platform.

3. Brand endorsements: Her large Instagram following (424 million) has led to lucrative deals with companies like Puma ($30 million) and Coach ($10 million).

4. Acting career: She earns $6 million per season for her role in Hulu’s Only Murders in the Building, which has been renewed for a fifth season.

With Rare Beauty reportedly seeking a $2 billion valuation, Gomez’s financial success is expected to continue growing.