This is how newly minted billionaire Selena Gomez makes and spends her money

Selena Gomez's popular beauty line, Rare Beauty, played a major role in her rise to billionaire status. With an estimated net worth of $1.3 billion, she was just listed on Bloomberg's Billionaire Index. Despite her early fame as a child performer on Barney & Friends, she has amassed a fortune largely through her business endeavors, TV appearances, and brand sponsorships. More than 80% of Gomez's wealth comes from her 2020 launch, Rare Beauty. The brand's high social media presence and appeal in stores like Sephora have contributed to its valuation of over $2 billion, as per the reports of Yahoo entertainment.

Acting, music, and production ventures

Gomez makes a big portion of her money from Rare Beauty, but she also makes money from her acting and singing careers. Her Disney Channel appearance in Wizards of Waverly Place helped her become well-known and opened doors to parts in movies like Monte Carlo and Spring Breakers. In 2007, Gomez co-founded July Moon Productions, the company behind television series such as 13 Reasons Why. Her role as the lead in Only Murders in the Building brought her success in recent years. Her track "Lose You to Love Me" peaked at No. 1 on the Billboard charts. She has published three solo albums.

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Lucrative brand deals and social media presence

Gomez's riches have also been greatly augmented by brand alliances. In 2016, she became the face of Puma and inked contracts with Coach and Louis Vuitton, earning millions of dollars from these endorsements. Gomez is one of the top earners from brand sponsorships thanks to the impact of her social media reach, especially her substantial Instagram following.

Along with her commercial endeavors, Gomez is also a co-founder of Wondermind, a mental health-focused media company, alongside her mother, businesswoman Daniella Pierson. This platform provides information and guidance on mental health issues. In addition to business, Gomez has made millions of real estate investments. She has purchased and sold a number of expensive properties, including a mansion that was formerly owned by musician Tom Petty. Her increasing wealth has been facilitated by her investments in real estate in Texas and California.

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FAQs

How does Selena Gomez earn from brand collaborations?
Selena Gomez has earned millions through high-profile brand deals with companies like Puma, Coach, and Louis Vuitton. Her large social media following, particularly on Instagram, has made her a top earner in brand sponsorships.

What role does Rare Beauty play in Selena Gomez’s wealth?
Rare Beauty, launched in 2020, is the main driver of Selena Gomez’s fortune, contributing over 80% of her wealth. The brand’s success in Sephora stores and on social media has boosted its valuation to over $2 billion.