Only money in the building: Selena Gomez is now a billionaire
Written by ABC Audio. All rights reserved. on September 7, 2024
Sure, Selena Gomez is a world-famous actress and singer, but it’s her makeup line that has made her a billionaire.
Bloomberg reports that the star of Only Murders In the Building is one of the country’s youngest self-made female billionaires. According to the publication’s Billionaires Index, she’s worth $1.3 billion, and most of that — $1.1 billion — comes from Rare Beauty Brands Inc., her 5-year-old makeup brand.
Selena isn’t the first pop star to become a billionaire based on a makeup line: Rihanna hit that milestone in 2021 thanks to her line, Fenty Beauty.
Selena’s other income comes from brand partnerships, acting, music sales, streaming and her interest in her mental health start-up company, Wondermind, according to Bloomberg. Her past multimillion-dollar brand partnerships include Coach, Louis Vuitton and Puma SE. And she makes at least $6 million per season from Only Murders.
Stacy Jones, founder and CEO of LA-based branding company Hollywood Branded, tells Bloomberg Selena is “a multifaceted businesswoman with diverse income streams contributing to her impressive net worth.”
Brent Saunders, the CEO of Bausch + Lomb Corp, and an investor in Wondermind, tells Bloomberg that in Selena, “You’ve got a real role model of how a celebrity can use their influence and expertise to both do good and create good business.”
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