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CNN
—
Selena Gomez can now add the title of billionaire to her long list of achievements.
The 32-year-old actress, singer, investor and entrepreneur has just reached this financial milestone, making her one of the youngest self-made billionaires in the United States, according to Bloomberg, which estimates her net worth at $1.3 billion.
The “Only Murders in the Building” star has earned some of her wealth from singing, brand partnerships and acting, but the “majority” of her fortune is tied to her five-year-old makeup line, Rare Beauty, which has been a huge hit with influencers and teens, the publication revealed Friday.
Gomez’s net worth is based on Bloomberg’s “estimated value” of her stake in the cosmetics brand, plus her stake in mental health platform Wondermind and various other income from her music, acting, real estate and the money she makes from partnerships she posts about on social media, including her 424 million followers on Instagram.
Her popularity on Instagram makes her the third most followed person, behind football icons Cristiano Ronaldo (638 million) and Lionel Messi (504 million), and helped her land massive endorsement deals with Puma, reportedly worth $30 million, and with Coach, a $10 million deal.
But her following has also helped her Rare Beauty line, which has propelled her into the celebrity-dominated makeup brand category dominated by Rihanna and the Kardashians. Gomez has also reportedly approached investors for Rare Beauty, seeking a $2 billion valuation.
In 2020, Gomez revealed she had been diagnosed with bipolar disorder, and later said in an interview with Entrepreneur that any deal with her “has to have an element that’s charitable or in the mental health space.” She founded the Rare Impact Fund to raise $100 million to help people access mental health services.
The former child star’s other sources of income include earnings from her Hulu show “Only Murders in the Building,” which was just renewed for a fifth season and where she earns $6 million per season, according to Bloomberg, as well as a smaller share of her music royalties.
Gomez’s representative did not immediately respond to CNN’s request for comment.
