Selena Gomez rises to new heights, becomes a billionaire
Entertainment
The worth of 32-year-old actress and singer has been estimated at $1.3 billion, reported Bloomberg
(Web Desk) – A child star of yesteryears has risen to new heights. Selena Gomez, who attained stardom on Barney and the Disney Channel, has become a billionaire.
The worth of 32-year-old actress and singer has been estimated at $1.3 billion, reported Bloomberg, which added her to its billionaire index on Friday.
According to Bloomberg, her wealth came mainly from her Rare Beauty make-up company, which she founded in 2019 and retains a stake in worth more than $1 billion.
The brand's success has made her one of the "youngest female self-made" wealthy on the list, alongside the likes of Taylor Swift and Rihanna.
Rare Beauty, known for liquid blush and lip tint that have had viral success on social media, reportedly did net sales of $400m in the 12 months to February.
She has also earned millions from endorsement deals with the likes of Louis Vuitton, Coach and Puma, the publication reported.
It said Gomez also took home "at least" $6 million per season for her Emmy-nominated turn in the Hulu hit "Only Murders in the Building", which was recently renewed for a fifth season.
Despite her on-screen and musical success – including multiple nominations for Emmy and Grammy Awards – those achievements count for a relatively a small fraction of her wealth, Bloomberg said.
Gomez, born in Texas, has spent nearly three decades in the public eye, where her success has brought scrutiny of her fashion, boyfriends and health travails – including diagnoses of bipolar disorder and the autoimmune disease lupus.
She became the most followed woman in the world on Instagram last year.
She counts more than 424 million fans on the platform, ahead of Swift and Kylie Jenner - a dubious distinction for a star who has discussed the paltform’s negative impact on her mental health and at times deleted it.
