Pop singer and actress Selena Gomez's beauty brand, Rare Beauty, accounts for about 81.4 per cent of her overall net worth. Her beauty line has mainly contributed to her joining Taylor Swift on the list of billionaires.
Selena Gomez has officially become one of the youngest millionaires. According to Deadline, the 'Emilia Perez' actor's financial success stems mostly from the success of her cosmetics company, Rare Cosmetics, as well as other lucrative endeavours.
Launched in 2019, Rare Beauty has considerably contributed to Gomez's projected net worth of USD 1.3 billion, making her one of the youngest female billionaires in the United States. According to Deadline, the cosmetics company accounts for around 81.4% of her total net worth.
Gomez's riches is not exclusively due to her beauty brand. The estimate includes her ownership of the mental health business Wondermind, revenue from music record sales, real estate interests, and revenues from streaming deals, brand collaborations, concert tours, and acting endeavours.
Although Gomez's last solo concert, the Revival concert, ended in 2016, and her most recent album, 'Rare', was published in 2020, she has remained a major presence in the entertainment industry. She continues to get praise as both a star and executive producer on the hit Hulu series 'Only Murders in the Building.
The program, which has already been extended for a fifth season, has garnered Gomez her first Emmy nomination for Outstanding Lead Actress in a Comedy Series. In addition, 'Only Murders in the Building' has been nominated for Outstanding Comedy Series for the third year running.
Gomez will also return to her television beginnings with the forthcoming sequel series "Wizards Beyond Waverly Place". The new series, which premieres on October 29 at 8 p.m. ET/PT, follows the popularity of her original Disney Channel sitcom, 'Wizards of Waverly Place'.
Gomez and her former co-star David Henrie will not only reprise their roles but also serve as executive producers for the sequel.
Selena Gomez joins ranks with Taylor Swift.
Gomez became the youngest self-made millionaire, joining bestie Taylor Swift on the list. While Gomez made the list with her cosmetics company and investments, Taylor did so with the success of her Eras Tour.
In October 2023, she was certified a billionaire, thanks in great part to her music business. In 2019, her repertoire was valued at $400 million, with additional earnings of $370 million from her record-breaking tour, $160 million from streaming, and roughly $100 million from record sales. Taylor's net worth was expected to be $1.1 billion in 2023, but she has since launched a new album and added gigs to her international tour.