Selena Gomez Becomes a Billionaire

Selena Gomez has reached a remarkable achievement, becoming a billionaire at just 32 years old. Her success positions her among the youngest women in the United States to hit this financial milestone.

Gomez first gained recognition as an actress through her role in Wizards of Waverly Place on the Disney Channel. Since then, she has expanded her portfolio, currently starring in Hulu’s critically acclaimed series, Only Murders In the Building, and set to appear in the upcoming film Emilia Pérez.

In addition to her acting career, Gomez has made a significant impact in the music industry with popular songs like “Lose You to Love Me,” for which she has received two Grammy nominations.

However, it is her business venture, Rare Beauty, launched in 2020, that has been a cornerstone of her financial success. According to a report from Bloomberg, this cosmetics brand has generated around $1.1 billion, contributing greatly to her net worth, which stands at an impressive $1.3 billion.

Gomez has also leveraged her celebrity status, securing lucrative brand partnerships with companies like Puma, Coach, and Louis Vuitton. These collaborations have reportedly earned her around $50 million.

Furthermore, Gomez founded a mental health initiative called Wondermind, which is estimated to be worth approximately $100 million, according to data from 2022.

“What she’s doing is pretty smart,” stated Carolyn Sloane, a professor at the University of Chicago, in the Bloomberg report. She noted that Gomez has been shifting toward career choices that align more closely with her authentic self, resulting in better investment decisions.

In addition to her various projects, Gomez serves as an executive producer and guest star in a spinoff of Wizards of Waverly Place, which is titled Wizards Beyond Waverly Place. This new series is set to premiere in October.

Meanwhile, fans eagerly anticipate the release of Season 4 of Only Murders in the Building, which premiered on August 27.

Selena Gomez’s journey from a young Disney star to a billionaire entrepreneur is a testament to her versatility and business acumen. With numerous projects on the horizon and a commitment to mental health, her impact continues to grow.

Source: UPI