Kylie Who? Selena Gomez Becomes REAL Self-Made Billionaire
Selena Gomez has officially been named a billionaire by Bloomberg. This stunning milestone is largely thanks to Rare Beauty. Her beauty brand accounts for $1.1 billion of her $1.3 billion net worth. According to Bloomberg, Gomez is one of the youngest women to have a 10-figure net worth in the United States.
Her journey to billionaire status has been in the making since childhood. Gomez has never shied away from sharing stories of her hardships being raised by a single teen mom. Her mother, Mandy Teefey, was 16 when she gave birth to Gomez and divorced her then-husband shortly after.
“I can remember about seven times when our car got stuck on the highway because we’d run out of gas money,” Gomez told ELLE in 2012. She also remembers that her mother “saved up to take me to concerts. She took me to museums, aquariums, to teach me about the world, about what’s real.”
Selena Gomez took the news in total relaxation with a selfie on the day that Bloomberg announced her new fortune threshold.
Honestly, she is clearly a self-made billionaire, unlike some people who originally tried to claim that title and then walked it back. *cough* Kylie Jenner *cough*
Jenner made headlines in 2019 with claims that she became the youngest woman to be a self-made billionaire, and social media popped off. The idea that a Jenner could be self-made after being part of the cash-generating family left people bewildered. Additionally, after the announcement, some reports of overinflating the value of Jenner’s businesses when sold, which overinflated her net worth. The uncovered information dropped her out of the billionaire club.
Gomez’s increased fortune is noteworthy because she has indeed made it happen on her own. Her beauty brand, Rare Beauty, has been well-received since its release. It is available in Mexico, Canada, and the United States.
“I really tried my hardest to create a product that was beyond just me putting my name on something,” Gomez told ELLE last year. “I wanted the products to be great. And I also wanted the message to be that makeup is meant to be fun.”
Gomez joins a growing list of celebrity billionaires in the U.S., including Taylor Swift, another recent addition.
At 32, Selena Gomez is among the youngest celebrities to make this coveted milestone.
Bloomberg considered all of Gomez’s revenue streams to calculate her estimated net worth. These include Rare Beauty, Wondermind, music album sales, property values, streaming deals, branded partnerships, concert ticket sales, and acting. Gomez, who is on Only Murders in the Building, has a long career, having started on Barney at ten years old.
Over the years, Selena Gomez has cemented herself as a Hollywood mainstay and a household name as she continues to push the boundaries of what she can do.
Gomez is gearing up for her next entertainment venture, executive producing the Disney+ reboot of Wizards of Waverly Place, now dubbed “Wizards Beyond Waverly Place.” The series sequel is set to premiere on Oct. 29 at 8:00 p.m. EST.
Well done, Selena. Becoming a REAL self-made billionaire is something to celebrate. We are so proud of you, Mija!
