(NewsNation) — Actress, singer and business owner Selena Gomez has a new accolade: billionaire.
That’s according to Bloomberg, which approximates the 32-year-old’s net worth at $1.3 billion. Her makeup brand, Rare Beauty, is behind a majority of her fortune at an estimated $1.1 billion.
It launched in 2020 and brought her major success, in part due to the line’s viral soft pinch liquid blush. That product alone netted the star $70 million in revenue in 2022, according to Business Insider reporting.
Her decade as a Disney Channel mainstay and starring in the Emmy-nominated show “Only Murders in the Building” are a small contributor, with Bloomberg attributing only 1.3% of her wealth to acting gigs.
Her mental health startup, Wondermind, is worth 2.6%, while partnerships and endorsements with luxury brands including Louis Vuitton and Coach make up 6.9%. Touring, from both her 2010s Selena Gomez and the Scene days and her more recent solo work, makes up 4.8% of her capital.
Gomez is one of the youngest female self-made billionaires in the country, joining her longtime friend and fellow musician Taylor Swift, who Forbes says has also netted $1.3 billion. Swift’s fortune, however, is almost exclusively due to her music sales.
Brent Saunders, the CEO of eye-health company Bausch + Lomb Corp. who invested in Gomez’s Wondermind startup, told Bloomberg it’s the former “Wizards of Waverly Place” star’s authenticity that led to her success.
“You’ve got a real role model of how a celebrity can use their influence and expertise to both do good and create good business,” Saunders told the business outlet. “Selena epitomizes that.”
