Recently, Selena Gomez has officially joined the ranks of celebrity billionaires, according to Bloomberg, which estimates her net worth at $1.3 billion. At just 32, the actress, singer, and entrepreneur owes most of this wealth to her cosmetics brand, Rare Beauty. Launched in 2020, the brand has been a massive success, contributing roughly $1.1 billion to her fortune. Rare Beauty’s popular products, such as its blush, reportedly brought in $70 million in revenue in 2022 alone.
A key factor in the brand’s profitability is that Gomez maintains full ownership, without the backing of a parent company or corporate partner. While investors like Nikki Eslami of New Theory Ventures and CEO Scott Friedman have supported the venture, it remains firmly under Gomez’s control. Despite rumors earlier this year that she might sell Rare Beauty at a $2 billion valuation, Gomez firmly denied any immediate plans for a sale, stating, “I don’t think I’m going anywhere. I am enjoying this a little too much.”
Beyond her beauty brand, Gomez continues to thrive in her acting career, with a leading role in Hulu’s hit series Only Murders in the Building. She is also the co-founder of Wondermind, a mental-health platform, and has secured major endorsement deals with brands like Puma, Coach, and Louis Vuitton. While her music career has been successful, it’s clear that her business ventures, particularly Rare Beauty, have catapulted her into billionaire status.
