Selena Gomez just added a major title to her already impressive resume—billionaire, thanks to her Rare Beauty company.
At 32, the actress, singer, entrepreneur, and investor has reached this monumental achievement, now having an estimated net worth of $1.3 billion, Bloomberg confirms. While the bulk of Gomez’s wealth comes from her successful acting career, which began when she was just a child, her Rare Beauty line catapulted her wealth in just four short years.
Launched in September 2020, Rare Beauty has become a favorite among influencers and teens. With over seven million Instagram followers, the company is quickly positioning itself as one of the top celebrity-led makeup brands alongside Rihanna’s Fenty Beauty and Kylie Jenner’s cosmetic line, which has also thrust them both into the billionaire’s club.
Rihanna reportedly reached this milestone in 2022 after launching Fenty Beauty in September 2017. The “Anti” singer now has a net worth of $1.4 billion. Jenner unveiled Kylie Cosmetics in 2014, launching her famous Kylie Lip Kits the following year. In 2020, the model sold 51 percent of her company to beauty giant Coty in a deal reportedly worth $1.2 billion. Though Forbes dropped her from the billionaire list that same year the deal closed, Jenner was said to be worth $900 million. With four years passing, it’s been reported that she has quietly become a billionaire once more. Jenner has taken after big sister Kim Kardashian, who is also a billionaire, thanks partly to her KKW Beauty brand. She sold 20 percent of the company to Coty in 2020 for $200 million before shuttering it altogether the following year. However, she re-entered the beauty arena with her SKKN skincare line in 2022. Her net worth currently stands at $1.7 billion.
By joining the ranks of Rihanna and the Kardashians, Gomez has firmly cemented herself as a force in the beauty industry.
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