Selena Gomez is many things: an actress, a singer, a chef, an Instagram icon, and a best friend to Taylor Swift. And now the “Only Murders in the Building” star can add another feather to her cap: she is one of America’s youngest self-made female billionaires.
Gomez, 32, is worth $1.3 billion, according to the Bloomberg Billionaires Index. The sources of her wealth are as diverse as her many careers. More than 80% of her net worth is derived from her Rare Beauty cosmetics brand but she also pulls in money from her acting and singing careers and her partnerships with brands including Coach, Louis Vuitton, and Puma.
“Selena is not just a pop star,” Stacy Jones, founder and chief executive officer of Hollywood Branded, a Los Angeles-based branding agency, told Bloomberg. “She’s a multifaceted businesswoman with diverse income streams contributing 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. A year before that, she launched the platform Wondermind which connects people to mental health resources.
“You’ve got a real role model of 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 blockbuster success of Rare Beauty is frequently 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 kind of where the essence started,” Rare Beauty chief digital officer Mehdi Mehdi told Women’s Wear Daily of the company’s branding.
“The more we got into it, her vulnerability was the thing that kept coming up,” Mehdi continued. “She’s been so open and honest about who she is and some of the struggles that she goes through and the challenges, and there was a sense of just 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 is from touring, and just under three percent is from Wondermind. The remainder of her net worth is connected to album sales, streaming, acting, and real estate holdings.
Continue reading to learn which celebrities have found the most success in business in 2023, according to a recent study from the packaging company Arka.
Actress and singer Jennifer Lopez is the tenth-most successful celebrity business owner. Her luxury skincare brand, J Lo Beauty, brings in $75 million annually, according to the study.
Dwayne Johnson is the ninth-most successful celebrity business owner. Arka’s study said he made a combined $83.3 million through tequila company Teremana, energy drink manufacturer Zoa and the XFL – a professional football league.
Pop star Ariana Grande is the eighth-most successful celebrity business owner. Grande’s r.e.m. beauty cosmetics line and her God Is a Woman perfume have made a combined revenue of $84 million.
Pop star Lady Gaga is the seventh-most successful celebrity business owner. Beauty company Haus Labs by Lady Gaga made $141.7M in revenue last year, per the study.
Actress Scarlett Johansson is the sixth-most successful celebrity business owner. Her skincare company, the Outset, made $153 million in revenue last year, the study said.
Actress Jessica Alba is the fifth-most successful celebrity business owner. Her personal care brand, the Honest Company, reportedly made $344 million in revenue last year.
Pop star Rihanna is the fourth-most successful celebrity business owner. Her makeup company, Fenty Beauty, reportedly made $582 million in revenue last year.
Pop star and actress Selena Gomez is the third-most successful celebrity business owner. Her makeup company, Rare Beauty, made $600 million in revenue last year, the study said.
Socialite and reality star Kim Kardashian is the second-most successful celebrity business owner. Her lingerie company Skims made $750 million in revenue last year, according to the study.
Musician and producer Dr. Dre is responsible for the most successful celebrity brand. Beats by Dre makes $1.5 billion in annual revenue, according to the study. Dr. Dre sold Beats to Apple for $3 billion in 2014.
