Only Money in the Building: How Selena Gomez became a billionaire at 32

Actress, singer, and businesswoman Selena Gomez has reached an impressive milestone by being named one of the youngest women in the United States with a fortune of one billion dollars. This is mostly thanks to her cosmetics brand, Rare Beauty, according to an analysis by Bloomberg.

Gomez, 32, began her career as a child actress on the show 'Barney & Friends' and rose to worldwide fame as the star of Disney's 'Wizards of Waverly Place.' Today, her success goes far beyond entertainment.

The real driving force behind her wealth is Rare Beauty, the makeup brand she launched in 2020. Her cosmetics line has been a huge success, especially among young women influenced by social media.

Selena's authenticity is a key to her success, according to experts. Unlike other celebrities, her brand is closely tied to her self-image of transparency and mental health, which has earned her the loyalty of her followers. "I really tried my hardest to create products that were beyond just me putting my name on something," she told KissFM radio in 2023.

While Gomez has also generated income from endorsement deals with major brands like Puma and Coach, Rare Beauty accounts for roughly 80% of her total fortune, according to Bloomberg.

Rare Beauty’s marketing strategy has been innovative, with Selena utilizing her social media platforms such as Instagram and TikTok to promote her products in an up-close and personal way.

Throughout her career, Selena has proven that her success does not depend that much on music. Music tours account for less than 5% of her wealth, and album sales generate even less —just 2%. Although her music career has been successful, the majority of her wealth comes from her business ventures and partnerships.

Gomez is also the co-founder of Wondermind, a platform dedicated to mental health, which has been valued at $100 million. This reinforces her focus on initiatives with a positive social impact.

Many people know her from 'Only Murders in the Building,' but her acting career is just a small part of her wealth. The Disney/Hulu series about three podcasters solving crimes makes her about $6 million per season, according to Bloomberg.

With an estimated fortune of 1.3 billion dollars, Selena Gomez has established herself as one of the most influential and successful figures of her generation, not only in the entertainment industry but also in the business world.

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