Selena Gomez has reached billionaire status, as confirmed by Bloomberg's latest index. The 32-year-old American actress has built a considerable fortune over the years, particularly through her cosmetics brand Rare Beauty, which significantly contributes to her wealth.

Selena Gomez Achieves Billionaire Status with $1.3 Billion Net Worth, Reports Bloomberg

Selena Gomez Achieves Milestone Net Worth

Selena Gomez is officially recognized as a billionaire, with Bloomberg estimating her net worth at $1.3 billion as of September. This remarkable financial achievement follows her rise to fame, which began in 2007 with her role in the Disney Channel series Wizards of Waverly Place. Over the years, Gomez has developed a successful career in both television and music, establishing herself as one of Hollywood's most beloved stars.

Selena Gomez Achieves Billionaire Status with $1.3 Billion Net Worth, Reports Bloomberg

Rare Beauty: The Key to Gomez's Wealth

A significant portion of Selena Gomez's wealth is attributed to her cosmetics line, Rare Beauty, which was launched in 2020. According to reports, approximately 81% of her financial fortune stems from this venture. Rare Beauty generated net sales of $400 million in the year leading up to February 2024. Unlike her entertainment career, revenues from music tours contributed less than 5% to her overall wealth, while album sales accounted for less than 2%.

Selena Gomez Achieves Billionaire Status with $1.3 Billion Net Worth, Reports Bloomberg

Market Estimates and Popularity Metrics

While the exact ownership stake Gomez holds in Rare Beauty remains undisclosed, Bloomberg suggests she may own around 51%. The total valuation of her cosmetics company is estimated to exceed $2 billion. Additionally, Gomez holds the title of the most followed woman on Instagram, boasting 424 million followers, which further amplifies her prominence in the public eye.

Selena Gomez Achieves Billionaire Status with $1.3 Billion Net Worth, Reports Bloomberg

Celebrity Billionaires: A Growing Trend

Selena Gomez's financial success aligns her with other celebrities in the cosmetics industry, including Rihanna, who became a billionaire in 2021 due to her Fenty Beauty brand. Similarly, Kylie Jenner had previously earned the title of the youngest self-made billionaire in 2019; however, she was later stripped of this status amid allegations of exaggerating her business’s financial success. Currently, Jenner's net worth sits at $710 million.

Swift Performance in the Music Industry

Gomez joins her close friend, Taylor Swift, in the billionaire ranks. Swift’s wealth is estimated at $1.1 billion as of October last year, predominantly accumulated through her music and concert tours. Since 2019, Swift has reportedly earned $400 million from new releases, with additional earnings from ticket sales, merchandise, and streaming. Her ongoing Eras Tour is projected to generate over $2 billion by its conclusion in December.