Selena Gomez has reached a remarkable milestone: she is now a billionaire!

At just 32 years old, the founder of Rare Beauty has made the Bloomberg Billionaire Index with an estimated fortune of $1.3 billion, thanks largely to the success of her beauty brand. With a prosperous career that began with her starring role on Disney Channel’s “The Wizards of Waverly Place,” Gomez is now one of the youngest billionaires in Hollywood.

As reported by Bloomberg, Gomez’s wealth is further amplified by being the third most-followed person on Instagram, trailing only two iconic soccer stars: Cristiano Ronaldo, who has 639 million followers and Lionel Messi with 505 million. Gomez has a substantial following of her own, boasting 424 million followers.

Aside from her beauty empire, Gomez has an impressive portfolio of popular television and film projects. She created the now-ended HBO Max cooking show “Selena + Chef” and stars alongside comedy legends Martin Short and Steve Martin in the Hulu hit series “Only Murders in the Building.” Additionally, she is set to executive produce a reboot of her iconic show “Wizards.”

What is Selena Gomez’s Rare Beauty brand?

The Rare Beauty line was developed based on Gomez’s experiences while getting her makeup done for various projects in television, music, and film.

In her initial press release, Gomez expressed, “I’m thrilled to introduce beauty products that not only look and feel fantastic but also celebrate our unique qualities. These products are designed to help you be yourself, whether you prefer a bold makeup look or something more natural.”

One percent of the sales from each item and all funds from partners are allocated to the Rare Impact Fund, aimed at raising $100 million over the next decade to improve mental health services in underserved communities. Gomez has been a long-time advocate for mental health.

In 2022, she released the Apple TV+ documentary titled “Selena Gomez: My Mind and Me,” along with a single that shares the same name, detailing her struggles with childhood fame and transitioning into adult stardom.

Contributions by: Jessica Kasparian, Reviewed