Selena Gomez is one of the youngest billionaires

Selena Gomez is many things: an actress, a singer, a chef, an Instagram icon, and Taylor Swift’s best friend. And now the “Only Murders in the Building” star can add another feather to her cap: She’s one of America’s youngest female billionaires.

Gomez, 32, is worth $1.3 billion, according to him Bloomberg Billionaires Index. The sources of her wealth are as diverse as her many careers. More than 80% of her net worth comes from her cosmetics brand Rare Beauty, but she also draws money from her acting and singing careers and her partnerships with brands such as Coach, Louis Vuitton and Puma.

“Selena is not just a pop star,” Stacy Jones, founder and chief executive of Hollywood Branded, a branding agency in Los Angeles, told Bloomberg. “She is a multi-faceted businesswoman with various streams of income that contribute to her impressive net worth.”

Crucially, Gomez is also openly vulnerable about her personal life and her struggles with lupus and bipolar disorder. In 2022, she released the documentary My Mind and Me chronicling her experience with mental illness. The year before, she launched Wondermind, a platform that connects people to mental health resources.

“You have a real role model for how a celebrity can use their influence and expertise to both do good and create good business,” Wondermind investor Brent Saunders told Bloomberg. “Selena epitomizes that.”

While many celebrities have their own cosmetics lines, the success of Rare Beauty is often attributed to Gomez’s ability to be open about her struggles.

“We really tried to absorb as much as we could about what makes her so special and why people love her so much, and that’s where the essence started,” said Mehdi Mehdi, digital director of Rare Beauty. Women’s clothing everyday of company branding.

“The more we got into it, her vulnerability was what kept coming up,” Mehdi continued. “She was so open and honest about who she was and some of her struggles and challenges, and she felt like everyone could see themselves in her.”

Bloomberg estimates that in addition to Rare Beauty, about seven percent of Gomez’s net worth comes from endorsements, about five percent comes from touring and just under three percent is from Wondermind. The rest of his net worth is tied to album sales, streaming, acting and real estate.

Read on to find out which celebrities had the most business success in 2023, according to a recent study by the packaging company Ark.