Selena Gomez achieves billionaire status

American singer, actress, and businesswoman Selena Gomez. Photo from Gomez's Instagram

According to Bloomberg, her net worth is now estimated at US$1.3 billion. This milestone marks her debut on the list and makes her one of the youngest self-made female billionaires in the country.

Gomez’s wealth is primarily tied to Rare Beauty, the makeup line she launched in 2020, which has since become a significant player in the cosmetics industry. The Bloomberg Billionaires Index estimates that 81.4% of her net worth comes from her stake in the brand. It is reported that Rare Beauty had annual revenue of US$350 million last year.

However, Gomez has diversified her business interests beyond Rare Beauty, with Stacy Jones, CEO of the marketing agency Hollywood Branded, noting that she is "a multifaceted businesswoman with diverse income streams contributing to her impressive net worth."

The Bloomberg Billionaires Index breakdown shows that 6.9% of Gomez’s fortune comes from endorsement deals, 4.8% from touring, 2.6% from the mental fitness platform she co-founded Wondermind, 1.8% from album sales, 1.3% from acting, 0.7% from streaming, and 0.6% from real estate.

Wondermind, which provides mental health resources, was valued at US$100 million in 2022 and has attracted investments from major venture capital firms and American former tennis player Serena Williams’s investment fund.

Gomez has also secured endorsement deals with major companies such as Puma SE, Coach, and Louis Vuitton, which have significantly boosted her income. According to CNN, reports indicate that her endorsement deal with Puma is worth US$30 million, while her deal with Coach is valued at US$10 million.

At 32, Gomez began her career as a child actress in 2002 and rose to fame as a teen idol. Her accolades include a Cannes Film Festival Award, an American Music Award, a Billboard Music Award, and two MTV Video Music Awards. She has received seven Emmy Award nominations, two Grammy Award nominations, and two Golden Globe Award nominations, and her studio albums have topped the US Billboard 200.