Selena Gomez can now add the title “billionaire” to her name. The multi-hyphenate got her big break on the Disney Channel’s Wizards of Waverly Place, and her success steadily developed over time. She landed multiple films roles over the years, including her current Hulu show, Only Murders in the Building. After delving into music, Selena has released six albums. But her music and acting careers weren’t the prime factors in reaching her billion-dollar net worth. Selena’s beauty brand, Rare Beauty, brought in an overabundance in earnings, turning the Hulu star into a billionaire.
Hollywood Life has rounded up Selena’s net worth and her earnings, below.
Selena Gomez’s Net Worth
Per Bloomberg, Selena’s net worth currently stands at $1.3 billion. The outlet credited Rare Beauty as the reason behind the financial status, citing her $1 billion stake in the company.
How Much Money Does Selena’s Rare Beauty Earn?
According to TIME, Rare Beauty has seen its sales gradually increase over time. In 2023, a popular liquid blush product brought in $70 million in revenue alone. The entire company is worth around $2 billion as of 2024.
During her May 2024 interview with TIME, Selena discussed her beauty brand and its message about confidence. The company’s founder also admitted that the work can be overwhelming “sometimes” and insisted that she “never” wanted her business to be “about making a lot of money.”
“I have this weird thing in my head where if I focus on the numbers, I’ll lose whatever it is that made Rare Beauty Rare Beauty,” the “Single Soon” artist told the publication. “I never wanted it to be about making a lot of money and that’s it.”
While the brand promotes self-love, Selena noted that she doesn’t want Rare Beauty to “give off the vibe” that people have to wear makeup to feel confident.
As for what makes her “most proud” of the company, Selena noted that she takes pride in offering people something they “can relate to.”
“I get so much joy when people say, ‘Hey, that helped me through a difficult time,’” she added.
How Else Does Selena Gomez Make Money?
Although her primary source of wealth is from Rare Beauty, Selena has built up her net worth in other ways. In 2017, the Emmy Award nominee partnered with Puma SE, which reportedly brought her a two-year deal worth around $30 million. Prior to that, Selena had partnerships with Coach and Louis Vuitton, both of which racked up millions of dollars.
Read the full article here
