Selena Gomez has become one of the wealthiest young celebrities in the entertainment industry, with her net worth skyrocketing in recent years.
The multi-talented star has diversified her income streams beyond music and acting, building an impressive fortune through savvy business ventures.
From Disney Star to Billion-Dollar Empire
Selena Gomez’s journey to billionaire status is a testament to her entrepreneurial spirit and business acumen.
The 32-year-old star, who rose to fame as a Disney Channel actress, has transformed her early success into a vast empire spanning multiple industries.
Rare Beauty: The Crown Jewel of Gomez’s Fortune
At the heart of Gomez’s wealth is her makeup brand, Rare Beauty. Launched in 2020, the company has experienced explosive growth, contributing significantly to her net worth.
Bloomberg reports that Rare Beauty’s sales reached $400 million in the year leading up to February 2024, making it a major player in the beauty industry.
The success of Rare Beauty’s products, particularly its viral liquid blush, has catapulted Gomez into the billionaire ranks. The brand’s emphasis on inclusivity and mental health awareness has resonated with consumers, further driving its popularity and sales.
Music and Acting: Steady Income Streams
While Rare Beauty accounts for the bulk of her wealth, Gomez’s entertainment career continues to be lucrative. Her work on the hit Hulu series “Only Murders in the Building” reportedly earns her $6 million per season.
Additionally, her music catalog and touring income, though a smaller portion of her overall wealth, still contribute millions to her net worth.
Brand Partnerships and Endorsements
Gomez’s massive social media following – she boasts over 400 million Instagram followers – makes her an attractive partner for brands.
She has secured lucrative deals with companies like Coach, Puma, and Pantene, further padding her bank account.
Investments and Other Ventures
The savvy entrepreneur has also made strategic investments in other businesses. She’s a part-owner of the ice cream brand Serendipity and has invested in mental health startup Wondermind.
Despite her immense wealth, Gomez remains committed to giving back. She established the Rare Impact Fund, pledging to raise $100 million over ten years to improve access to mental health services.
FAQs
How much is Selena Gomez worth in 2024?
Selena Gomez’s net worth is estimated at $1.3 billion as of 2024.
What is Selena Gomez’s main source of wealth?
The majority of Gomez’s wealth comes from her makeup brand, Rare Beauty.
Does Selena Gomez still make money from acting and music?
Yes, Gomez continues to earn millions from her acting roles and music career.
How does Selena Gomez use her wealth for philanthropy?
Gomez established the Rare Impact Fund to raise money for mental health services.