Selena Gomez becomes a billionaire and joins Taylor Swift

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Selena Gomez is officially a billionaire: Bloomberg reported on Friday that the actress has a net worth of $1.3 billion.

The outlet attributed the “major portion” of her money to her Rare Beauty brand, launched in February 2019, as well as her acting and singing careers.

According to the report, over 80% of the entrepreneur's wealth comes from her majority stake in the makeup brand, which has become a huge success in the influencer market.

“Selena is not just a pop star,” marketing expert Stacy Jones told the outlet. “She is a multifaceted businesswoman with multiple income streams that contribute to her impressive net worth.”

In addition to her cosmetics brand, Gomez's wealth also comes from her investments in Wondermind, her real estate portfolio, her income from the music and acting industries, and paid partnerships.

The 32-year-old former Disney Channel star doesn't seem to be planning on slowing down any time soon, as her hit Hulu series “Only Murders in the Building” was recently renewed for a fifth season.

Gomez is also the third most followed person on Instagram and has reportedly earned over $30 million from just one endorsement deal.

The Emmy-nominated actress is now one of the country's youngest self-made billionaires alongside her best friend Taylor Swift.

Swift reportedly reached billionaire status in October 2023 thanks to the success of her international Eras Tour.

While Gomez's wealth comes primarily from her investments and makeup brand, Swift owes her billion-dollar empire largely to her music.

In 2019, her catalog was worth around $400 million. She also earned over $370 million from her record-breaking tour, more than $160 million from streaming, and nearly $100 million from record sales.

Last year, the “Fortnight” singer's net worth was around $1.1 billion, but she has since released new music and added several stops to her international tour.