By Barbra Nakiwala
Selena Gomez, the multi-talented singer, actress, and entrepreneur, has officially joined the elite ranks of self-made female billionaires at the age of 32. With a fortune of $1.3 billion, Gomez’s rise to billionaire status is largely credited to the runaway success of her makeup brand, Rare Beauty.
Selena Gomez’s journey to becoming a billionaire is a story of perseverance, talent, and entrepreneurial acumen. Born in Texas and thrust into the public eye as a child star, Gomez has spent nearly three decades captivating audiences with her music, acting, and now, her business ventures.
Gomez founded Rare Beauty just five years ago, and it has quickly become a powerhouse in the beauty industry. Known for its best-selling products like liquid blush and lip tint, Rare Beauty reportedly generated a staggering $400 million in net sales in the 12 months leading up to February. The brand’s success has not only catapulted Gomez into the billionaire club but also positioned her alongside other young self-made billionaires like Taylor Swift and Rihanna.
While Rare Beauty is the cornerstone of her wealth, Gomez’s financial success is multifaceted. She has earned tens of millions of dollars through high-profile endorsement deals with luxury brands such as Louis Vuitton, Coach, and Puma. Her acting career, particularly her role in the Hulu hit series “Only Murders in the Building,” has also contributed significantly to her earnings, with reports indicating she made at least $6 million per season.
Despite her accomplishments in entertainment, it’s clear that Gomez’s wealth is predominantly derived from her business ventures. Her ability to pivot from a successful career in entertainment to launching a thriving beauty brand is a testament to her versatility and business savvy.
Throughout her career, Gomez has been open about her personal struggles, including her battles with bipolar disorder and lupus, as well as the challenges of navigating fame from a young age. She has also been vocal about her family’s immigration journey from Mexico, adding depth to her public persona. Last year, she became the most followed woman on Instagram, amassing over 424 million followers, though she has often spoken about the toll social media has taken on her mental health and has taken breaks to protect her well-being.
Even as she reaches new heights in her career, Gomez remains humble and driven, expressing that she still feels there is more to accomplish. Her journey from a Disney star to a global business mogul is not just a story of financial success but also one of resilience, growth, and a relentless pursuit of her passions.
As Selena Gomez continues to break barriers and redefine success, her story serves as an inspiration to many, proving that with determination and vision, it’s possible to carve out a legacy that transcends industries.
