Selena Gomez is now a billionaire, Bloomberg reports
Selena Gomez, the Disney child star turned musician and actor with a highly successful beauty brand, is now a billionaire, according to Bloomberg.
Gomez, the 32-year-old founder of Rare Beauty Brands Inc. and a star of Hulu’s "Only Murders in the Building," made Bloomberg’s Billionaires Index for the first time with a reported net worth of $1.3 billion.
Gomez got her start in entertainment, but Bloomberg says the "vast bulk" of her wealth is from Rare Beauty Brands, which she started five years ago.
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In addition to being a pop star and appearing in an Emmy-nominated TV show, Gomez also has brand partnerships and a mental-health startup. With 424 million followers, she’s the third most popular person on Instagram, behind soccer legends Cristiano Ronaldo and Lionel Messi.
Unlike her close friend Taylor Swift, Gomez’s music tours accounted for less than 5% of her wealth, with album and record sales making up less than 2% of her net worth.
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Gomez’s reps didn’t respond to Bloomberg’s request for comment. Here’s how Bloomberg estimated her wealth:
Bloomberg’s wealth analysis took into account the estimated value of her stake in Rare Beauty, her interest in Wondermind, the estimated value of her music album sales and properties, and earnings from streaming deals, brand partnerships, concert tickets and acting. It assumes the lowest estimated value of her stakes in businesses and is based only on assets that could be confirmed or traced from publicly disclosed figures.