Like her best friend, Taylor Swift, Selena Gomez has reached billionaire status.
On Friday, September 6, Bloomberg reported that the 32-year-old's net worth is totaled at $1.3 billion. While many people recognize The Only Murders in the Building Star for her singing and acting abilities, over 80 percent of her wealth ($1.1 billion), per the outlet, is from her stake in Rare Beauty Brands Inc.— the fan-favorite beauty brand founded by Gomez in 2020.
While Gomez is passionate about both her entertainment career and her beauty company, she has always put mental health at the forefront of her endeavors. One percent of Rare Beauty sales go to the Rare Beauty Impact Fund, which helps provide mental health resources to people. The singer also co-founded Wondermind, a mental health startup.
Brent Saunders, an investor in Wondermind, spoke to Bloomberg and attributed Gomez's success to her authenticity. "You've got a real role model of how a celebrity [Selena Gomez] can use their influence and expertise to both do good and create good business," Saunders remarked. "Selena epitomizes that."
Besides Rare Beauty, other sources of income contributing to the singer's wealth include endorsements, touring, Wondermind, albums, acting, streaming, and real estate. Branding and pop culture expert Stacy Jones told Bloomberg Gomez's billionaire status is due to her entrepreneurial spirit. "Selena is not just a pop star. She's a multifaceted businesswoman with diverse income streams contributing to her impressive net worth," Jones noted.
In terms of acting, Gomez earned around $3 million for starring as Alex Russo in the wildly popular Disney show Wizards of Waverly Place. Additionally, Gomez takes home at least $6 million each season for playing Mobel Mora on Only Murders in the Building, which costars comedic giants Steve Martin and Martin Short.
The former Disney star's massive social media following -- she currently has 424 million followers on Instagram-- has led to some major deals with fashion brands like Puma and Coach. In 2016, Gomez earned $10 million for being the face of the coach; in 2017, she signed a two-year deal with Puma that earned her reportedly $30 million.
While Gomez's longtime friendSwift has built her net worth on the back of her music career, Gomez's wealth is only minutely — in comparison — attributed to her music. (The "Lose You to Love Me" singer is paid mainly in royalties, per Bloomberg, because she did not write the majority of her discography.) That being said, Gomez knows how to tour, earning a whopping $30 million in ticket sales for her 2016 Revival tour.
No matter how the specifics of Gomez's net worth are broken down, she is definitely a financial force of nature.
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