Washington, September 7
Selena Gomez has officially joined the ranks of one of the youngest billionaires.
According to the Deadline, the 'Emilia Perez' actor has achieved this financial feat primarily through the success of her beauty brand, Rare Beauty, alongside other lucrative ventures.
Launched in 2019, Rare Beauty has significantly contributed to Gomez's estimated net worth of USD 1.3 billion, positioning her as one of the youngest female billionaires in the United States.
The beauty brand accounts for about 81.4 percent of her overall net worth, according to Deadline.
Gomez's wealth is not solely attributed to her beauty brand. The valuation encompasses her stake in the mental health startup Wondermind, revenue from music album sales, real estate investments, and earnings from streaming deals, brand partnerships, concert tours, and acting projects.
Although Gomez's last solo tour, the Revival Tour, concluded in 2016 and her most recent album, 'Rare', was released in 2020, she has remained a prominent figure in entertainment.
She continues to garner acclaim as both a star and executive producer of the popular Hulu series 'Only Murders in the Building'.
The show, which has recently been renewed for a fifth season, has earned Gomez her first Emmy Award nomination for Outstanding Lead Actress in a Comedy Series.
Additionally, 'Only Murders in the Building' has been nominated for Outstanding Comedy Series for the third consecutive year.
Gomez is also set to revisit her television roots with the upcoming sequel series 'Wizards Beyond Waverly Place'.
The new series, set to premiere on October 29 at 8 pm ET/PT, follows the success of her original Disney Channel show, 'Wizards of Waverly Place'.
Gomez and her former co-star David Henrie are not only reprising their roles but also taking on executive producer roles for the sequel.