Selena Gomez reaches billionaire status with Rare Beauty and her business approach.

At 32 years old, Selena Gomez has reached a significant milestone in her career by becoming a billionaire, thanks to her successful cosmetics brand, Rare Beauty Brands Inc. Her net worth is estimated at $1.3 billion, according to Bloomberg's Billionaires Index, marking her debut in this exclusive group of individuals with a net worth of over one billion. This achievement is particularly noteworthy, as unlike other celebrities who have amassed their wealth through music and tours, such as her friend Taylor Swift, Gomez has built her fortune primarily through her foray into the business world. Since the launch of Rare Beauty five years ago, the brand has resonated deeply with teenagers and young adults, becoming a phenomenon in the cosmetics market. Despite the challenges of the industry and fierce competition, Rare Beauty has proven to be more than just a makeup brand; it is a symbol of a movement advocating for self-acceptance and mental health. This approach has allowed Gomez to not only establish herself as a businesswoman but also to create an emotional connection with her fanbase, who appreciate her authenticity and vulnerability. The fortune of the "Lose You to Love Me" singer is not limited to Rare Beauty. Gomez has diversified her career by collaborating with well-known brands like Puma, Louis Vuitton, and Coach, and by serving as a producer on the hit Disney series "Only Murders in the Building." Additionally, alongside her mother, she co-founded Wondermind, a startup dedicated to mental health, underscoring her commitment to the emotional well-being of young people. This multifaceted approach has enabled her to build a solid business ecosystem that ensures a prosperous future, away from the media spotlight if she so wishes. Selena has been open about her personal struggles, which include a diagnosis of bipolar disorder and a battle with lupus that led her to undergo a liver transplant in 2017. Her transparency around these issues has resonated with her followers, who see her as a true role model. Brent Saunders, CEO of Bausch + Lomb, highlights how Gomez uses her influence to create a positive impact while simultaneously building a successful business. Most of her fortune, nearly $1.1 billion, comes from her majority stake in Rare Beauty. Despite her success, in March of this year, Gomez considered selling the company, which is currently valued at $2 billion, but ultimately decided to keep it. In 2022, the brand reported revenues of $350 million, surpassing competitors like Jessica Alba's Honest Co. and Lady Gaga's Haus Labs, reinforcing its position in the market. Her marketing strategy has been innovative and effective. From the start, she has starred in her own campaigns, filling social media with content where she herself uses Rare Beauty products. This personal approach has proven attractive to her followers, creating an authentic and emotional bond that transcends simple commercial transactions. Additionally, the brand is committed to donating 1% of its sales to the Rare Impact Fund, which aims to provide mental health services and education to young people. Stacy Jones, founder of Hollywood Branded, states that Selena is not just a pop star but a multifaceted entrepreneur who has created various income streams. This diversified approach has not only enriched her net worth but also positioned her as an influential figure in both business and social spheres. Wondermind, her mental health startup, has attracted the attention of major investors and is valued at $100 million, reflecting its growing relevance in the sector. At this moment, Gomez is focused on promoting the fourth season of "Only Murders in the Building," where her role as Mabel Mora has earned her an Emmy nomination. With a salary of approximately $6 million per season, her acting career continues to thrive. Although she is currently on a musical hiatus, Gomez has expressed her desire to return to the studio, suggesting that she still has much to offer in the realm of music. While her personal life, including her relationship with music producer Benny Blanco, has remained in the public eye, her focus on mental health and personal well-being allows her to navigate the challenges of fame with grace and determination. With 424 million followers on Instagram, nearly double that of Taylor Swift, Gomez has proven that her influence extends beyond music, becoming an iconic figure in today’s pop culture. Selena Gomez, with her story of resilience and success, has established herself as a true icon, not only in the entertainment industry but also in the modern business world.