- The actress, singer and entrepreneur is now one of the youngest self-make billionaires in the US
- Vast majority of her wealth is not from her acting or singing career
- Star is third most popular person on Instagram, with more than 424 million followers
Selena Gomez has had a stellar career packed into her 32 years already – and her latest achievement might surprise some: she has just become a billionaire.
Rare success
The actress, singer, entrepreneur and investor is valued at $1.3 billion, according to Bloomberg. This makes Gomez one of the youngest self-made billionaires in the US.
While Gomez, currently starring in Only Murders in the Building, has made millions from her acting and singing careers, most of her wealth comes from another source. Bloomberg reports that the vast majority of her wealth comes from her stake in the makeup line Rare Beauty.
Set up just five years ago, Rare Beauty has become hugely popular, especially with influencers and teenagers. Gomez has reportedly reached out to outside investors for the brand, with a $2 billion valuation put on it.
Other sources of her wealth include the mental health platform Wondermind, as well as property investments and partnerships with brands to post on social media. This includes Puma and Coach – deals worth $30 million and $10 million respectively, according to reports. Gomez has more than 424 million followers on Instagram – third only behind soccer stars Lionel Messi and Christiano Ronaldo.
Back to her roots
Gomez is also returning to her acting roots by starring in the spin-off to Wizards of Waverly Place, which she appeared in when she was a teenager. Titled Wizards Beyond Waverly Place, Gomez will return as a grown-up Alex Russo. Other cast members from the original show will also be reprising their roles.
The show is set to premiere on Disney+ and the Disney Channel later this year.
