Selena Gomez is now a billionaire

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According to Bloomberg, which pegs the actress, singer, businesswoman, and investor at 32 years old at $1.3 billion, she recently hit the financial milestone, making her one of the country's youngest self-made billionaires.

The "Only Murders in the Building" star's riches is derived in part from her acting, singing, and business partnerships, but the "vast bulk" of her wealth is linked to Rare Beauty, her successful five-year-old makeup company that appeals to teens and influencers, the journal said on Friday.
Gomez's wealth is determined by Bloomberg's "estimated value" of her interest in the mental health platform Wondermind, in addition to her earnings from acting, music, real estate, and partnerships that she promotes on social media, where she has 424 million Instagram followers.

Due to her popularity, she has the third-highest Instagram following, after soccer greats Lionel Messi (504 million) and Cristiano Ronaldo (638 million), which has helped her earn enormous endorsement deals with Puma (reportedly worth $30 million) and Coach ($10 million).
However, her fan base has also aided her Rare Beauty line, placing her in the celebrity-led makeup business space that is dominated by the Kardashians and Rihanna. According to reports, Gomez has also approached investors about Rare Beauty, looking for a $2 billion valuation.
A partnership involving Gomez "has to have an element that's charitable or in the mental health space," she stated in an interview with Entrepreneur after disclosing her bipolar disorder diagnosis in 2020. In order to help people obtain access to mental health services, she established the Rare Impact Fund with the goal of raising $100 million.

The former child star also receives money from her Hulu series "Only Murders in the Building," which was just extended for a fifth season and brings her $6 million annually, as reported by Bloomberg, as well as a smaller portion from her song royalties.

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