You might be wondering what Selena Gomez’s net worth is, as she is the latest celebrity to become a billionaire, according to Bloomberg’s billionaire index.
While Selena Gomez is not the richest person in the world, nor is she the richest woman in the world, her career in acting, beauty, fashion and singing has led her to billionaire status. According to Bloomberg, Selena Gomez is worth an estimated $1.3 billion.
Unlike Taylor Swift who made her billions solely from her music career, Gomez has followed in the footsteps of artists like Rihanna, who diversified her income through her beauty brand, Fenty.
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But where did it all start for Gomez? How did she rise to fame and accumulate billions?
Selena Gomez and acting
Selena Gomez, now 32, has Disney to thank for her rise to stardom. She began her acting career on Disney’s children's show, Barney & Friends at a mere 9 years old. She was paid $3,000 per episode according to IMDb. Around five years later, Gomez became the lead in Disney Channel’s hit show, Wizards of Waverly Place. According to IMDb, Gomez was paid $30,000 per episode, earning her more than $3 million and making her one of nine highest-paid child TV stars, Business Insider reports.
Wizards of Waverly Place really got Gomez noticed. The actress also made appearances on other Disney hit shows, such as Hannah Montana and The Suite Life of Zack and Cody. Gomez also starred as the lead in the Disney movie, Princess Protection Programme in 2009. She continued to thrive in her acting career, playing the lead in other ‘chick flick’ movies including Spring Breakers. Her role in Monte Carlo earned Gomez $2,500,000.
Fast forward to 2021, Gomez had a major breakthrough in her acting career – she produced and starred in Hulu’s hit show Only Murders in the Building. According to Variety, Gomez’s co-stars earn $600,000 per episode, which suggests she earns a similar amount. The actress was also nominated for her first Emmy award for her role in the Hulu series.
While Gomez is getting plaudits as an actress, this is only a fraction of her wealth.
Selena Gomez and her music career
Gomez also released music in her Disney days. Her first album, Stars Dance made its debut in July 2013. According to Parade, she made over $6 million from the Stars Dance tour. Since then, she released two more solo albums – Revival and Rare. On her Revival tour, she earned more than $13 million, despite cancelling the remainder of her tour after her 55th show due to mental health struggles.
Billboard reveals the singer has sold 24.3 million singles and 3.4 million albums just in the US. And not forgetting Calm Down by Rema, which Gomez featured on in 2022. Forbes says it was the first Afrobeats song to reach more than one billion views in the US, which benefited Gomez as the number of streams increased her pay packet. Still, Gomez hasn’t put her music career to bed. Fans can expect new music from the singer soon, as she’s recently hinted that she’s working on a new album.
Selena Gomez and Rare Beauty
Gomez’s beauty brand, Rare Beauty, has been the biggest catalyst for propelling Gomez’s net worth, contributing to 81.4% of the star’s wealth, Bloomberg reports. Rare Beauty launched in September 2020, during the Covid pandemic. The brand, which sells make-up and skincare products, has become a hit among social media influencers on Instagram and TikTok. In 2022, the Rare Beauty Liquid Blush sold 3.1 million units, priced at $23 each – generating around $70 million in revenue, according to Bloomberg. As a result, the brand was on track to triple its sales in 2023.
Gomez’s commitment to young people is also clear in her business – 1% of every sale goes to her Rare Impact Fund, which aims to improve access to mental health services. According to the Rare Beauty 2023 social impact report, the charity raised more than $7 million and reached over one million people.
So, how did the brand become a huge success in such a crowded market? Well, even before the brand was born, it was a given that her fiercely loyal fans would support any of her ventures. To put it into perspective, the Rare Beauty Instagram account has 7.7 million followers and its TikTok account has a following of 4.1 million. And social media continues to work wonders for the star…
Brand partnerships
Even though most of Gomez’s wealth comes from her beauty brand, all of her career moves have pushed her up to billionaire status – even her Instagram following. According to Forbes India, Gomez is the most followed female on Instagram, with 424 million in 2024 – just below Cristiano Ronaldo and Lionel Messi. That’s more followers than Kim Kardashian and Beyoncé. And Gomez’s high Instagram following has been a recipe for success for brands who pay her to endorse them.
Global fashion names have leveraged Gomez’s social media popularity, including Coach. In 2016, Gomez was named the new face of the brand, landing her a $10 million deal, Billboard reports. In the same year, she partnered with Louis Vuitton in another $10 million deal and became the face of the sportswear brand, Puma in a two-year contract that earned her a reported $30 million.
According to Bloomberg, Gomez’s brand endorsements account for 6.9% of her wealth – the second largest driver to her becoming a billionaire.
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