Movies

Here’s What We Know About Selena Gomez’s Net Worth as She’s Named on Billionaires Index

BBG News

Here’s What We Know About Selena Gomez’s Net Worth as She’s Named on Billionaires Index

As a long-time admirer of the entertainment industry who grew up watching Disney Channel classics like “Wizards of Waverly Place” and “Princess Protection Program,” I must say that Selena Gomez’s meteoric rise to billionaire status is nothing short of astounding. Her journey from a young actress to a successful singer, executive producer, and business owner is truly inspiring.

According to Bloomberg’s report, Selena Gomez, a multi-talented figure known for singing, acting, and entrepreneurship, was included in their billionaire index on September 6, signifying that she has amassed a fortune worth over a billion dollars.

32-year-old Gomez gained prominence on Disney Channel, starring in hit shows like “Wizards of Waverly Place” and movies such as “Princess Protection Program”. Throughout the 2010s, she established her music career with numerous hits, culminating in the U.S. number one single “Lose You to Love Me” in 2020. However, her musical and acting ventures make up only a small portion of her wealth. A Bloomberg report reveals that music tours account for less than 5% of Gomez’s total net worth, with album and record sales contributing even less than that.

Gomez’s extensive career in the entertainment world has been further solidified with her critically acclaimed role in the comedy-drama series “Only Murders in the Building“, where she acts alongside comedy icons Steve Martin and Martin Short. Notably, Gomez is also one of the executive producers for this show, sharing this role with Martin and Short. It’s said that she earned at least $6 million per season for her part in the popular Hulu series, which has recently been renewed for a fifth season.

Apart from excelling in the music, TV, and movie worlds, she also thrives as the founder and prosperous entrepreneur of the beauty brand, Rare Beauty.

READ MORE: How Selena Gomez Is Revolutionizing the Celebrity Beauty Business

Approximately 81% of Gomez’s fortune is accumulated from her ventures with Rare Beauty. In the year 2023, sales for their top-selling item, a $23 liquid blush, soared to an impressive $70 million.

In September 2020, the new beauty brand made its debut amidst an already crowded market of celebrity-endorsed beauty companies like Fenty Beauty by Rihanna. However, it’s managed to carve out a considerable niche for itself, achieving remarkable success.

On the cover of TIME’s May 2024 issue, Gomez discussed how frequently individuals approach her to express their gratitude for the positive impact Rare Beauty has had on their lives.

She shared with TIME that what fills her with the greatest pride is being able to create music that resonates with others. When listeners tell her, ‘Your songs helped me during a tough period,’ she finds immense happiness.

In addition, she mentioned that she mainly concentrates on the aspect of Rare Beauty dealing with impact funds and product innovation, and financial gain hasn’t been a major concern or top priority for the company.

She shared, “At times, it can be overpowering for me. There’s something unusual in my mind – when I concentrate on the figures, I might lose what makes Rare Beauty unique.” She emphasized, “I never intended it to solely revolve around amassing wealth.

Gomez donates one percent of her cosmetic sales to the charitable foundation of Rare Beauty known as the Rare Impact Fund. The objective of this fund is to accumulate $100 million, as stated on their official website. Currently, they have successfully raised over $16 million and have granted money to 26 different organizations scattered across five continents that are dedicated to enhancing mental health.

Additionally, the Bloomberg report highlighted Gomez’s significant influence on social media platforms, particularly Instagram where he boasts a massive following of approximately 424 million users.

Gomez’s net worth is $1.3 billion, per Bloomberg’s estimations.

Read More

2024-09-07 23:06

Previous post Jon Favreau is excited to finally bring Grogu to the big screen
Next post 3 highlights from ONE Championship 168 you need to see (Video)