Entertainment

Selena Gomez joins Bloomberg’s billionaire list

By: Seyi Babalola

Date:

American pop star, Selena Gomez is now a billionaire, according to Bloomberg’s Billionaires Index.

The actress, singer and entrepreneur amassed an estimated $1.3 billion fortune from her Rare Beauty brand to music and hit shows.

According to the publication, more than 80% of Gomez’s net worth derives from her stake in Rare Beauty Brand Inc.

Brand partnerships, acting deals and mental-health startups also contributed to her wealth.

Gomez came into the spotlight as a child star in the 2000s. She reportedly made around $3 million for her role as Alex Russo in the Disney Channel’s Wizards of Waverly Place from 2007 to 2012.

She then launched a music career, first with the pop-rock band Selena Gomez & the Scene and then as a solo artist.

With 424 million followers, Gomez is behind only football icons Cristiano Ronaldo and Lionel Messi as the most popular person on Instagram.

Music tours only accounted for less than 5% of Gomez’s wealth, with album and record sales less than 2%. She hasn’t toured since 2016.

Most of Gomez’s fortune — roughly $1.1 billion — comes from her stake in Rare Beauty.

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