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Is Selena Gomez A Billionaire? Find Out Her 2024 Net Worth As Singer Joins New Celebrity Rich List
Selena Gomez has officially joined the billionaire ranks in 2024, with a net worth of $1.3 billion. Know what factors contributed in skyrocketing her net worth!
Selena Gomez has become the latest celebrity to reach self-made billionaire status. The Disney Channel alum, who is also a singer and an entrepreneur, has amassed a fortune of $1.3 billion, according to Bloomberg, which added the star to its billionaire index on Friday, September 6.
Regarding the source of Selena’s exponential earnings, the publication said her wealth mainly came from Rare Beauty, the makeup company she founded five years ago. She retains a stake in the brand, which is worth more than $1 billion. The brand’s success has made the Calm Down singer one of the youngest female self-made people on the list, alongside the likes of Rihanna and her bestie Taylor Swift.
Rare Beauty, known for its pigmented blushes and lip tints that have had viral success on social media, raked in $400 million in net sales between February 2023 and 2024, according to Bloomberg. It makes up 80% of Sel's total net worth.
Gomez, per the aforementioned financial news and analysis outlet, also funneled substantial cash into her bank account from endorsement deals with brands like Louis Vuitton, Coach, and Puma.
She is also reported to have taken “at least $6 million per season for her Emmy-nominated” role in Hulu’s Only Murders in the Building, which was recently renewed for a fifth season.
For those uninformed about her personal life, Gomez was born in Texas and is of Mexican descent. She has spent nearly three decades in the entertainment business, which has inevitably kept her in the public eye. Over the years, she’s made headlines for her fashion hits and misses, her relationships, friendships, health ups and downs, and more.
The all-around entertainer became the most followed woman and the third most followed person in the world on Instagram last year, per Bloomberg, with more than 424 million admirers on the platform. She's ahead of the likes of Kylie Jenner and Taylor Swift in follower count, trailing only behind soccer royalties Cristiano Ronaldo, who has 639 million followers, and Lionel Messi, with 505 million supporters.
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