Acting evidently pays pretty well for Selena Gomez, and music can provide a nice income, but she didn't hit the really big money until she started her own line of makeup products. On Friday, Gomez made her debut on the Bloomberg Billionaires Index, with an estimated net worth of $1.3 billion. The analysis attributes 81.4% of her wealth to Rare Beauty, which has taken off after winning over influencers, whose endorsements helped make it a hit with young people. "Selena is not just a pop star," said Stacy Jones of Hollywood Branded, a Los Angeles agency, per Bloomberg. "She's a multifaceted businesswoman with diverse income streams contributing to her impressive net worth."
The revenue sources converge for the 32-year-old. Only soccer stars Cristiano Ronaldo, with 638 million, and Lionel Messi, with 504 million, have more Instagram followers than Gomez, whose count is 424 million, per CNN. That helped her land endorsements of lines such as Puma, at a reported $30 million, and Coach, at $10 million. She's a success as an actress, having recently won a best actress award at Cannes for Emilia Pérez and receiving an Emmy nomination for her TV series Only Murders in the Building. Her mental health platform Wondermind has attracted major investors, per Yahoo Entertainment.
Rare Beauty has also raised money in its five years, more than $7 million last year, and she's seeking investors to take the line to a $2 billion valuation. "I really tried my hardest to create a product that (was) beyond just me putting my name on something," Gomez said last year. It now accounts for most of her wealth. (More Selena Gomez stories.)
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