Selena Gomez has officially joined the billionaire’s club, with Bloomberg reporting her net worth at $1.3 billion as of September 2024. At 32 years old, the actress, singer, and entrepreneur has become one of the youngest self-made billionaires in the United States, marking a remarkable transformation from her early days as a Disney Channel star.
Rare Beauty: The Foundation of Her Fortune
The majority of Gomez’s wealth stems from Rare Beauty, contributing approximately $1.1 billion or 81% of her total net worth based on her estimated 51% stake in the company. After launching in 2020, Rare Beauty skyrocketed in worth due to the success of its products, with sales increasing 100% from 2021 to 2022 and 200% the following year, reaching $400 million from May 2023 to 2024.
The brand’s most successful product, the $23 Soft Pinch Liquid Blush, earned $70 million alone in 2023. This viral success on social media platforms, particularly TikTok, has established Rare Beauty as a dominant force in the cosmetics industry.
Entertainment Career Earnings
Television and Film Success
Gomez earns $6 million per season for her role in Hulu’s “Only Murders in the Building,” which was recently renewed for a fifth season. The show has earned her Emmy and Golden Globe nominations, showcasing her evolution from teen star to serious actress.
Her early career foundation was built on Disney Channel’s “Wizards of Waverly Place,” where she earned $30,000 per episode, totaling over $3 million for the series run.
Financial Breakdown and Revenue Streams
| Revenue Source | Estimated Value | Percentage of Net Worth |
|---|---|---|
| Rare Beauty | $1.1 billion | 81% |
| Acting/TV | $90+ million | 7% |
| Music/Tours | Less than $65 million | 5% |
| Brand Partnerships | $50+ million | 4% |
| Real Estate | $40+ million | 3% |
Social Media Influence
With 424 million Instagram followers, making her the third most-followed person on the platform, Gomez commands multi-million-dollar endorsement deals with brands like Puma and Coach. Each sponsored post reportedly earns her $1.7 million.
Investment Portfolio and Business Ventures
Beyond Rare Beauty, Gomez has diversified her investments across multiple sectors. She co-founded Wondermind, a mental health startup, and holds stakes in Serendipity ice cream and Gopuff delivery service. Her real estate portfolio includes a $4.9 million Encino mansion previously owned by Tom Petty.
Philanthropic Commitment
Gomez has established the Rare Impact Fund with a goal to raise $100 million to improve access to mental health services. Rare Beauty donates 1% of all sales to its philanthropic fund, which has already raised over $5 million.
Despite her wealth, Gomez maintains that she finds discussing money “distasteful” and credits her success to customers who “made this dream come true”. Her focus remains on expanding Rare Beauty’s impact while continuing her entertainment career and advocacy work.
Frequently Asked Questions
Q: How did Selena Gomez become a billionaire so quickly?
A: Gomez’s billionaire status primarily resulted from Rare Beauty’s explosive growth since its 2020 launch, with the company now valued at over $2 billion.
Q: What is Selena Gomez’s salary for “Only Murders in the Building”?
A: She reportedly earns at least $6 million per season as both star and executive producer of the hit Hulu series.
Q: How much does Selena Gomez make from Instagram posts?
A: With over 424 million followers, she reportedly earns approximately $1.7 million per sponsored post.