Selena Gomez joins ranks with Taylor Swift on the billionaire list thanks to Rare Beauty
Singer Selena Gomez entered the billionaires’ list as Bloomberg estimated her net worth of $1.3 billion on Friday, September 6.
The outlet mentioned her beauty line, Rare Beauty as a major contributor to making her a billionaire. Gomez wore the entrepreneur suit in February 2019 when she founded Rare Beauty in addition to being an actress and a successful singer.
Rare Beauty makes Selena Gomez a billionaire
The reports from the outlet suggested that over 80% of the singer’s wealth was derived from her being a majority stakeholder in Rare Beauty. The beauty products line has become a major player in the influencer marketplace as well. Marketing expert, Stacy Jones explained to the outlet, “Selena is not just a pop star. She’s a multifaceted businesswoman with diverse income streams contributing to her impressive net worth.”
Apart from her beauty brand, Gomez’s being a billionaire is also a result of her investment in real estate portfolio, Wondermind, earnings from her singing and acting career and paid partnerships. Her addition to the new list is just one of the many things the Kill ‘em with Kindness singer achieved recently.
Gomez’s hit series Only Murders in the Building has been renewed for its fifth season and is the third most followed person on Instagram. She charges the upper margin of $30 million for one endorsement deal, as reported by Page Six.
Selena Gomez joins rank with Taylor Swift
Gomez joined the ranks with bestie, Taylor Swift in the billionaire list as the youngest self-made to do so. While Gomez reached the list with her beauty brand and investments, Taylor made it with the successful run of her Eras Tour. She was declared a billionaire in October 2023 largely based on her music empire. In 2019, her catalogue value was estimated at $400 million in addition to which she earned $370 from her record-breaking tour, $160 million through streaming and nearly $100 million from record sales.
In 2023, Taylor’s net value was estimated to be at $1.1 billion, however, she has released a new album and shows to her international tour.