Selena Gomez Has Reached Billionaire Status, Thanks To Her Beauty Brand

Selena Gomez

Selena Gomez Has Reached Billionaire Status, Thanks To Her Beauty Brand

Pop star and actress Selena Gomez has officially reached billionaire status.

A report from Bloomberg confirmed earlier today (Friday, September 6th) that the singer’s Rare Beauty brand was recently valued at $1.3 billion, pushing her into the league of 10-figure-earners.

The new valuation of Selena Gomez’s beauty business sees her become one of the country’s youngest self-made billionaires at just 32-years-old. With just 5 years in the business, Rare Beauty has achieved an impressive feat. It’s noted that the company has grown steadily in popularity, targeting social media influencers and teenagers who have continued to rave about the products. Selena Gomez’s international fame also contributed to her success, as she often markets products to her more than 424 million followers on Instagram alone.

While the report notes that “vast bulk” of her wealth comes from the business, it also highlights Gomez’s savy investment portfolio. Some of the singer’s money is also attributed to her interest in mental health platform Wondermind, as well as earnings from her music, movies, TV shows, real estate, brand deals and partnerships.

Selena Gomez

Gomez joins a growing list of pop stars breaking the billionaire ceiling, following Rihanna – who similarly credits much of her wealth to her Fenty beauty line – and her bestie Taylor Swift, who was named a billionaire earlier this year following the success of her international The Eras Tour.

A few of Gomez‘ active lucrative deals were also shared as part of the report, with the TV star earning a reported $30 million from her Puma deal, $10 million from her partnership with Coach, as well as the $6 million/season she’s earning on her Hulu series “Only Murders in the Building,” which is currently airing its 4th season.

It’s also reported that Gomez is currently seeking investors for Rare Beauty, hoping to secure a $2 billion valuation.

[VIA]

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