American pop star Selena Gomez has officially joined the ranks of billionaires, according to Bloomberg's Billionaires Index.
The actress, singer, and entrepreneur has amassed an estimated fortune of $1.3 billion, primarily from her successful Rare Beauty brand.
Gomez's journey to this financial milestone is a testament to her diverse talents and business acumen. Over 80% of her wealth comes from her stake in Rare Beauty Brand Inc., which has become a player in the beauty industry.
In addition to her beauty empire, Gomez's net worth is bolstered by brand partnerships, acting deals, and investments in mental-health startups. Reflecting on her career, Gomez first gained fame as a child star in the 2000s with her role as Alex Russo in Disney Channel’s "Wizards of Waverly Place." She reportedly earned around $3 million for her work on the show from 2007 to 2012.
Transitioning into music, she initially performed with the pop-rock band Selena Gomez & the Scene before embarking on a successful solo career.
Despite her musical achievements, it's noteworthy that music tours and album sales account for less than 7% of her total wealth. Gomez hasn't toured since 2016, focusing instead on her entrepreneurial ventures and acting roles.
Gomez is also a social media powerhouse, boasting 424 million followers on Instagram, making her the third most popular individual on the platform, behind only football icons Cristiano Ronaldo and Lionel Messi.
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