Selena Gomez, the American singer, actress, and entrepreneur, has officially joined the youngest billionaires club, according to reports from Deadline and Bloomberg. This remarkable financial achievement is primarily attributed to the success of her beauty brand, Rare Beauty, which has significantly boosted her net worth to an estimated $1.3 billion. The 32-year-old is now one of the youngest female billionaires in the U.S.
Rare Beauty’s Role in Gomez’s Financial Success
Launched in 2019, Rare Beauty quickly became a major player in the beauty industry, thriving in both the influencer and consumer markets. According to marketing expert Stacy Jones, “Selena is not just a pop star. She’s a multifaceted businesswoman with diverse income streams contributing to her impressive net worth.”
In fact, around 81.4% of Gomez’s net worth comes from her majority stake in Rare Beauty. The brand’s philosophy of embracing natural beauty and promoting mental health awareness has resonated with millions, contributing to its rapid growth and financial success.
Diverse Revenue Streams
While Rare Beauty remains the cornerstone of Gomez’s billionaire status, her wealth also stems from other ventures. These include her real estate investments and her stake in the mental health startup Wondermind. Additionally, Gomez continues to earn from her extensive entertainment career, with revenue streams coming from music album sales, streaming deals, concerts, acting projects, and lucrative paid brand partnerships.
Upcoming Projects and Continued Success
Despite her last album, Rare, being released in 2020, Selena Gomez continues to remain a significant figure in the entertainment industry. She is the executive producer and star of the hit Hulu series *Only Murders in the Building*. Additionally, she is set to reprise her beloved role in the Disney Channel sequel, *Wizards Beyond Waverly Place*, which is scheduled to premiere on October 29, 2024.
As Gomez expands her influence across industries, her journey from a Disney star to a successful entrepreneur and billionaire is an inspiring testament to her hard work and business acumen.
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