Selena Gomez joins billionaire club thanks to beauty brand venture

The American singer and actress, 32, first rose to fame as a child star on Disney Channel before pursuing a music career and later launching her beauty brand Rare in 2020.

Through her ventures, she has accumulated a fortune worth 1.3 billion dollars (£990 million), making her one of the “youngest female self-made billionaires”, according to Bloomberg, which has recently added the US star to its billionaire index.

The business news outlet believes her wealth mainly comes from her beauty brand, which she retains a stake in worth more than one billion dollars, it estimated.

Rare Beauty became a hit with influencers and make-up fans, with many raving about its liquid blush and lip products.

She has also amassed her wealth through other avenues including brand partnerships, acting deals and music sales and touring.

After rising to stardom on Disney Channel on children’s show Barney & Friends and Wizards of Waverly Place, she went on to star in various TV shows and films including 2012’s Spring Breakers and the Hotel Transylvania franchise.

She currently stars alongside veteran comedians Steve Martin and Martin Short in the critically acclaimed series Only Murders In The Building, for which she has been Emmy nominated.

In her music career, she has released three albums with her group Selena Gomez & the Scene and later three solo album records.

She is the most followed woman in the world on Instagram with 424 million followers, ahead of Taylor Swift and members of the Kardashian-Jenner family.

Her close friend Swift became a billionaire earlier this year through her music and tour earnings, according to Forbes magazine.

Other celebrities on the list include Barbadian singer Rihanna, who also made it through her beauty brand, while Beyonce’s husband, the rapper Jay-Z, became hip-hop’s first billionaire in 2019 based on his fine art collection, music and shares in companies and drinks brands.