Selena Gomez Follows Taylor Swift into Billionaire Status with Rare Beauty. Selena Gomez has officially joined the billionaire ranks, thanks largely to the success of her beauty line, Rare Beauty. As of September 6, 2024, Bloomberg estimates her net worth at an impressive $1.3 billion. This milestone places her alongside her close friend Taylor Swift, who also recently became a billionaire.
The Rise of Rare Beauty
Founded in February 2019, Rare Beauty has quickly become a significant player in the beauty industry. Over 80% of Gomez’s wealth comes from her majority stake in the company. The brand’s success is a testament to both its high-quality products and Gomez’s business acumen. Marketing expert Stacy Jones remarked, “Selena is not just a pop star. She’s a multifaceted businesswoman with diverse income streams contributing to her impressive net worth.”
Rare Beauty has gained popularity for its inclusive approach, offering a wide range of shades and products that cater to diverse skin tones. This inclusivity, combined with Gomez’s massive social media following, has propelled the brand to new heights.
Diverse Investments and Ventures
While Rare Beauty is a significant contributor to Gomez’s billionaire status, it’s not her only source of wealth. She has a diverse investment portfolio that includes real estate and the mental health platform Wondermind. Additionally, her earnings from her singing and acting career, along with lucrative paid partnerships, have bolstered her financial standing.
Joining Forces with Taylor Swift
Selena Gomez’s entry into the billionaire club sees her joining her best friend Taylor Swift, who was declared a billionaire in October 2023. Swift’s wealth is primarily derived from her music empire, including the highly successful Eras Tour. In 2019, her music catalog alone was valued at $400 million.
Selena Gomez Follows Taylor Swift: Both Gomez and Swift represent a new generation of self-made billionaires who have leveraged their talents and business acumen to build impressive empires. Their achievements are not just milestones in their careers but also serve as inspiration for aspiring entrepreneurs and artists worldwide.