Most of the mogul’s wealth comes from her Rare Beauty brand, the publication reports.
Selena Gomez is in rare financial air. According to a report from Bloomberg published Friday (Sept. 6), the 32-year-old star has officially crossed over into billionaire status.
More precisely, Gomez now has an estimated net worth of $1.3 billion, making her one of the world’s youngest self-made billionaires. The publication attributes the “vast bulk” of her wealth to the success of her popular Rare Beauty business, which she launched in 2019.
Billboard has reached out to Gomez’s rep for comment.
Other ventures making up her reported 10-figure bank account are the multi-hyphenate’s music catalog and acting roles — most recently Jacques Audiard’s Emilia Perez and Hulu’s ongoing Only Murders in the Building — as well as her real-estate portfolio and brand partnerships, bolstered by her 424 million followers on Instagram, the third-most on the app. Gomez also boasts earnings from her investments, including her stake in her mental health platform Wondermind, which she founded in 2022 with her mom, Mandy Teefey, and entrepreneur Daniella Pierson.
The “Lose You to Love Me” singer is now one of a handful of musicians to become a billionaire, joining close friend Taylor Swift, Rihanna, Jay-Z, Ye and Bruce Springsteen. The Boss was the latest to join the elite club before Gomez, with Forbes estimating his net worth at $1.1 billion in July.
The news comes about a week after the fourth-season premiere of Only Murders, the previous season of which earned Gomez Emmy nods for outstanding lead actress in a comedy series and best comedy series. Her next endeavor is a Disney+ reboot of the Disney Channel series where she got her start — Wizards of Waverly Place — for which she’ll executive produce and make an appearance alongside David Henrie, who played her older brother in the original series.
“I truly feel like it was the place I started, and I will always be grateful for that time,” Gomez said of the Oct. 29-slated project in a recent interview with People. “I just hope that this new chapter can bring a whole new audience joy the same way that we did when we were younger.”
