Selena Gomez Officially a billionaire.
Gomez appeared on Bloomberg’s Billionaire Index for the first time on Friday after his net worth reached $1.3 billion. It’s been a long time coming for the 32-year-old, who first got paid as a child actor on “Barney & Friends” in the ’90s.
now, Gomez is an entrepreneur With multiple income streams.
Here’s how Gomez makes and spends her money.
Rare beauty is a major factor in Gomez’s wealth.
Gomez may be best known as an actor and musician, but the bulk of her net worth — more than 80%, according to Bloomberg estimates — comes from her beauty brand, Rare Beauty. The publication assumes that Gomez owns a conservative 51% of the business — the brand has only two known investors — valuing it at more than $2 billion, confirming an earlier report. business of fashion, which sets its price at the same number.
While an analysis of reported revenue — between $300 million and $350 million — and the current price-to-sales ratio for public beauty companies like Coty and L’Oreal may understate the brand’s value a bit, given the company and its room’s momentum of growth — it’s currently only available at Sephora and online. sold on — increase its appeal.
“The price tag didn’t surprise me, because it’s a healthy brand with beloved products,” Nancy Rowe, a beauty industry expert, told Business Insider earlier this year in response to the $2 billion figure.
Launched in 2020, the cosmetics line has reached heights few other celebrity brands have. While many struggling A-list-backed companies put too much emphasis on the talent’s fans, Rare Beauty has become a well-known entity in its own right—similar to Rihanna’s Fenty Beauty—going beyond just “Selenator.”
The brand’s success has been discussed on retailer Kohl’s earnings calls, where it is available on its Sephora display and at manufacturer Elements, and it has multiple products among Sephora’s bestsellers, including cult favorites like liquid blush.
The brand has been particularly successful on social media, which Gomez has also dominated. He has been one of the most followed people on Instagram for years.
Rare Beauty’s popularity online “indicates its value on the street today,” Jeffrey Tan, a beauty industry veteran, told BI earlier this year. “Makeup brands are driven by social media. What’s driven on social media is sold in stores – that’s black and white.”
Earlier this year, reports swirled that Gomez wanted to sell the brand — and officially cash in on the value she created while the products were still hot.
Gomez is a veteran actor who started a production company in 2007.
Audiences first met Gomez in 2002 when she joined “Barney & Friends” as Gianna.
Her next big break came in 2007 when she played Alex Russo on the Disney Channel sitcom, “Wizards of Waverly Place” which won two Emmy Awards and became a certified hit with young audiences.
Her status as a Disney Channel darling helped Gomez transition to bigger projects, including the 2011 film “Monte Carlo.” She later starred in films like “A Rainy Day in New York” and “Spring Breakers”.
Gomez has continued to star in several projects over the years, including “Hotel TransylvaniaA film franchise that has grossed over $1.3 billion across four films. Gomez snagged an executive producer credit for the fourth installment, but it wasn’t his first producer credit.
Gomez started her own production company — July Moon Productions — in 2007. Under that company, he produced the Netflix series. “13 Reasons Why” in 2017 and the title of a cooking-based reality TV series “Selena + Chef” In 2020.
More recently, Gomez has found acting success “Only Murders in the Building” With Steve Martin and Martin Short.
Gomez became a chart-topping pop star in the 2000s.
As a child star, Gomez released a few stand-alone singles for the soundtrack but made her official music debut in 2009 with Selena Gomez and the Scene. The band released three studio albums and several highly successful singles, including “Love You Like a Love. Song.”
Gomez released her first solo album, “Stars Dance” in 2013. It became his first No. 1 album. She has since released two more albums and numerous singles, including “Lose You to Love Me”, which reached No. 1 on the Billboard Hot 100 chart.
Gomez has sold a total of 3.6 million albums and “moved over 11.5 million album equivalent units” as of August 2023. According to Billboard.
The outlet reported that her best-selling song in the United States was “Love You Like a Love Song” with 2.8 million copies, while her most streamed song was DJ Snake’s “Taki Taki” with 1.02 billion on-demand streams.
Touring has also lined Gomez’s pocket. According to Bloomberg, she earned more than $30 million in ticket sales for the 2016 Revival Tour.
Gomez earned millions from brand deals with companies like Coach.
Gomez’s real-life star power translated to social media platforms like Instagram, where she became Most followed user in 2016 With 103 million followers.
At the time, she amassed more Instagram followers than all six Kardashian-Jenner siblings, Taylor Swift, Beyoncé and Ariana Grande combined.
Her online influence made her a prime candidate for big-name brand deals and sponsorships, which Bloomberg reports currently account for 6.9% of her net worth.
Gomez received a report $10 million from the coach deal in 2016, then racked up more money that same year through a campaign with Louis Vuitton.
Gomez signed a deal with Puma SE in 2016 And! News The price was said to be $30 million. She has also signed with Coca-Cola, VerizonAnd Pantene.
Gomez co-founded a media company called Wondermind.
Gomez is a vocal mental health advocate and has discussed her struggles publicly on several occasions.
A desire to communicate about mental health inspired Gomez to start the media platform “Wondermind”. She founded Wondermind with her mother, Mandy Teefey, and an entrepreneur Daniella Pearson. People can visit the Wondermind website for mental health advice and content, including worksheets, podcasts and mental health explainers.
Wondermind now makes up 2.6% of Gomez’s fortune, Bloomberg reported.
Gomez has invested his wealth in real estate.
Gomez has invested millions in his real estate portfolio since 2011 The house is beautiful.
The outlet reported that Gomez bought her first home in 2011 for $2 million and sold it three years later to rapper Iggy Azalea for $3.45 million.
In 2014, Gomez upgraded a $3.69 million Calabasas home that she sold two years later to rapper French Montana for $3.3 million.
House Beautiful reported that Gomez bought a 10,000-square-foot Texas mansion in 2015, but the exact price is unknown. He sold the house in 2018 for $2.7 million.
Gomez bought her third California home for $2.24 million in 2017, then sold it three years later for $2.3 million.
Her most recent real estate investment was a former home Singer Tom PettyWho died in 2017. Gomez acquired the Encino-based property in 2020 for $4.9 million.
Gomez said in 2023 Food Network video That she lived there with her grandparents.
“I live with my grandparents, so we’re always in the kitchen, always cooking, and we have leftovers,” she said.
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