Selena Gomez is one of the world’s youngest billionaires as the 32-year-old former Disney Channel pop star and actress has cashed in her highly successful beauty and cosmetics brand.The bulk of Gomez’s wealth is derived from her stake in Rare Beauty, the cosmetics company that she founded in 2020.
Rare Beauty has just two known investors — New Theory Ventures and CEO Scott Friedman, who led Nyx Cosmetics before it was sold to L’Oréal for $500 million in 2014.The rest of Gomez’s wealth is derived from endorsements, concert touring, album sales, acting gigs, streaming royalties and real estate holdings, according to Bloomberg News.Gomez entered the public consciousness as a young child who got her start as part of the cast of “Barney & Friends.
She then got a starring role on the Disney Channel’s “Wizards of Waverly Place,” where she was a cast member from 2007 to 2012. But it was through her music career that Gomez gained fame — churning out hit songs first as the lead singer of the pop-rock band Selena Gomez & the Scene and then as a solo artist.Gomez has also continued her acting career with roles in films such as “A Rainy Day in New York” and “Spring Breakers.”
In the process, Gomez has become a social media star — amassing 424 million followers on Instagram, third most behind soccer stars Cristiano Ronald and Lionel Messi.