Selena Gomez Reportedly Reaches Billionaire Status
According to Bloomberg, the "Love On" singer is officially one of the country's youngest billionaires with her $1.3B fortune, with a large part of her income coming from her Rare Beauty line that launched five years ago. But that's not the only thing that brings the dollars in...
As well as starring in Only Murders in the Building, Emilia Perez and other shows and movies, Gomez also has her Selena + Chef series, a thriving music career, and brand deals with Louis Vuitton, Coach, Puma, and more. How does she fit all of this in, we wonder?!
What Is The Secret To Selena Gomez's Success?
"Selena is not just a pop star. She's a multifaceted businesswoman with diverse income streams contributing to her impressive net worth," said Stacy Jones, founder and chief executive officer of Los Angeles-based branding agency, Hollywood Branded, according to Bloomberg.
Brent Saunders, CEO of Bausch + Lomb, and a key investor in Selena's mental health startup, Wondermind, speculated that the secret to Selena's success is her authenticity, which has always been at the forefront of her Rare Beauty brand. "You've got a real role model of how a celebrity can use their influence and expertise to both do good and create good business. Selena epitomizes that," Saunders said.
Selena previously said: "I really tried my hardest to create products that were beyond just me putting my name on something. I wanted the products to be great, and I also wanted the message to be that makeup is meant to be fun."
She also said that she wanted Rare Beauty to "create a safe, welcoming space in beauty—and beyond—that supports mental wellbeing across age, gender identity, sexual orientation, race, cultural background, physical or mental ability, and perspective." Mission accomplished, we think!