The American singer and actress, Selena Gomez, has now achieved the “billionaire” tag among her list of achievements.
The 32-year-old celebrity who is also an entrepreneur, achieved a financial milestone, making her one of the world’s youngest billionaires in the United States. According to Bloomberg, as of 2024, Selena Gomez net worth is $1.3 billion.
Several factors include singing, brand partnerships, and acting; however, vast wealth is tied to rare beauty, a 5-year-old makeup line that has success with influencers and teenagers; the media publication revealed on Friday.
Selena Gomez’s wealth is based on Bloomberg’s estimated value of stake and her interest in mental health performance and various other earnings from music, properties, and acting. She also makes partnerships that she posts on social media and includes 424 million followers on Instagram.
Her popularity on Instagram also makes her the third most followed person on social media; the second and first being Cristiano Ronaldo (638 million followers) and Lionel Messi (508 million followers). This also helped her in endorsements with massive brands like Puma, worth a reported $30 million, and Coach, a $10 million deal.
However, her following also helped various beauty lines, putting her among the makeup brands dominated by Kardashians and Rihanna. She has reportedly also reached several visitors, including a $2 billion valuation.
In 2020, she was diagnosed with bipolar disorder; in an interview with a media house, she explained that any deal she was struck with should “have to have an element that’s charitable or in the mental health space.” Additionally, she also established the Rare Impact Fund for raising $100 million.
The other revenue stream of the actress is her acting project, Only Murders in the Building, which was renewed for a sixth season; she reportedly earned a $6 million fee from each season. Besides, she also has a smaller slice of the music royalties.
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