Selena Gomez’s Rare Beauty Company Earns Her Billionaire Status

Rich & Famous September 18, 2024

Selena Gomez’s net worth has skyrocketed thanks to her successful makeup line, Rare Beauty. Now in her 30s, she is not just a singer or actress anymore but a full-blown entrepreneur with a fortune worth $1.3 billion, according to a recent Bloomberg report. While Gomez has always been in the limelight for her music and acting career, it is her beauty brand that has made her one of the youngest billionaires in the world today.

However, her net worth is not solely the result of her Hollywood work, though that still plays a part. The singer, actress, and producer has expanded her business portfolio, investing in various ventures. From dominating the beauty industry with Rare Beauty to her involvement in the mental health platform Wondermind, Selena Gomez has leveraged her fame to build a diverse empire.

Selena Gomez’s Net Worth Soars With Rare Beauty

Selena Gomez’s net worth reached this incredible milestone primarily because of Rare Beauty, her 5-year-old makeup line. While her singing and acting career has remained a steady income source, it is the success of Rare Beauty that truly propelled her into billionaire status.

Selena / IG / According to the latest report from Bloomberg, the 32-year-old singer, actress, investor, and entrepreneur now has a jaw-dropping net worth of $1.3 billion.

Rare Beauty stands out in a competitive market led by big names like Rihanna’s Fenty Beauty and Kylie Jenner’s Kylie Cosmetics. Gomez, however, tapped into an unaddressed space in the beauty industry: Inclusivity and mental health awareness. Rare Beauty promotes self-expression through makeup while emphasizing that beauty comes in many forms.

Rare Beauty is estimated to generate hundreds of millions in revenue, positioning it as one of the fastest-growing celebrity beauty brands. Selena’s direct connection to her fans, particularly on social media, has helped amplify her brand’s reach, making her one of the most successful entrepreneurs in the beauty industry.

Rare Beauty’s Unique Approach to the Beauty Industry

Rare Beauty is not just another celebrity-endorsed makeup line. Selena Gomez’s brand is deeply rooted in her personal values. The company emphasizes inclusivity, offering a wide range of shades for different skin tones and promoting the idea that makeup should enhance rather than mask one’s natural features. Rare Beauty also goes beyond cosmetics by supporting mental health initiatives, a cause close to Gomez’s heart.

Selena / IG / Sure! The “Only Murders in the Building” lead actress makes a fair share of income from singing and her roles in movies. But a vast bulk of her fortune comes from her 5-year-old makeup line, Rare Beauty.

Likewise, Rare Beauty has also attracted potential investors. According to reports, Gomez has reached out to investors, seeking a valuation of $2 billion for her beauty brand. If successful, this move could further boost her already impressive fortune. Thus, it solidifies her place among the wealthiest women in the entertainment industry.

Other Revenue Streams of the Former Child Actress

Selena Gomez’s net worth is not solely reliant on Rare Beauty. Her diverse portfolio includes other ventures and projects that significantly contribute to her wealth. One of these is Wondermind, a mental health platform that Gomez co-founded. This platform aligns perfectly with her mission to advocate for mental health.

Her work in television also adds to her wealth. Gomez stars in Hulu’s hit show “Only Murders in the Building,” which was recently renewed for a fifth season. According to reports, Gomez makes around $6 million per season for her role in the show.

Plus, music royalties continue to be another source of revenue for Selena Gomez’s net worth. Though Gomez has not released a full studio album in a few years, her older hits still generate royalties. Coupled with brand partnerships, her earnings from acting, and her social media endorsements, Selena Gomez has multiple income streams that all contribute to her staggering net worth.