Selena Gomez, the 32-year-old actress, singer, investor, and entrepreneur, has just achieved a significant financial milestone, becoming one of the youngest self-made billionaires in the United States.
According to Bloomberg, Gomez’s net worth has reached an estimated $1.3 billion, solidifying her place among the most successful young entrepreneurs of our time.
While Gomez’s wealth stems from her illustrious career in entertainment, including her roles in hit series like “Only Murders in the Building” and her successful music career, the “vast bulk” of her fortune is attributed to Rare Beauty, her 5-year-old makeup brand.
Rare Beauty has resonated deeply with influencers and teens alike, becoming a standout in the competitive beauty industry.
Gomez’s business acumen extends beyond her beauty brand. She has also invested in the mental health platform Wondermind and has secured lucrative brand partnerships with global giants like Puma and Coach, further boosting her financial success.
Her immense popularity on social media, where she boasts 424 million followers on Instagram, has made her the third most-followed person on the platform, amplifying her influence and reach.
But Gomez’s success is not just about financial gain. In 2020, she revealed her diagnosis of bipolar disorder, and since then, she has been a passionate advocate for mental health.
This commitment is reflected in her business decisions; she has ensured that every deal she strikes has a charitable element, particularly in the mental health space. This dedication led to the creation of the Rare Impact Fund, aimed at raising $100 million to provide access to mental health services for those in need.
Beyond her entrepreneurial endeavors, Gomez continues to thrive in her acting career. Her Hulu show “Only Murders in the Building” has been renewed for a fifth season, where she reportedly earns $6 million per season.
Additionally, her music royalties contribute to her diverse income streams.
Selena Gomez’s journey to billionaire status is a testament to her hard work, resilience, and unwavering commitment to making a positive impact.
Her story is an inspiration to young entrepreneurs and a reminder that success is not only measured by financial milestones but also by the difference one can make in the world.
Source:CNN
