Selena Gomez: From Disney star to $1.3 billion beauty mogul

Sep 6

Simone Del Rosario Business Correspondent

By Simone Del Rosario (Business Correspondent), Mathew Grisham (Digital Producer), Mirlie Larose (Producer), Jack Henry (Video Editor)

Selena Gomez has worn a number of different hats on her journey to become a billionaire, but now the child star has a burgeoning beauty business. At age 32, Gomez is one of the youngest self-made billionaires in the U.S., a bulk of which is due to her makeup line, Rare Beauty.

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According to the Bloomberg Billionaires Index on Friday, Sept. 6, she has a fortune valued at $1.3 billion. While her acting and music careers play a role, it’s her business ventures that have helped propel her to that value.

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Gomez started Rare Beauty five years ago, and it accounts for more than 80% of her wealth. The company brought in $350 million in revenue last year.

She also has lucrative brand deals with companies like Puma and Coach, and she co-founded Wondermind, a mental health startup valued at $100 million. Her music career is worth just 7% of her wealth, and her acting career brings in even less.

Still, Gomez has a long history on the screen. She started as a child star in the show “Barney and Friends,” and later moved on to Disney with “Wizards of Waverly Place.” She’s currently in the spotlight for her role in the Emmy-nominated “Only Murders in the Building,” and she reportedly makes $6 million per season for that show.

Having now joined the billionaire’s index, Gomez appears to still be on the rise, weighing the sale of her beauty business back in March.

Tags: Disney

Simone Del Rosario

FROM DISNEY STAR TO BILLIONAIRE BUSINESS MOGUL, SELENA GOMEZ HAS MASTERED THE ART OF REINVENTION.

AND WITH ALL SHE’S GOT GOING ON RIGHT NOW, IT LOOKS LIKE HER EMPIRE IS JUST GETTING STARTED.

AT JUST 32, GOMEZ IS BREAKING IN AS ONE OF THE COUNTRY’S YOUNGEST SELF-MADE FEMALE BILLIONAIRES IN THE U.S. SHE HAS A FORTUNE VALUED AT ONE-POINT-THREE-BILLION, ACCORDING TO THE BLOOMBERG BILLIONAIRES INDEX ON FRIDAY. AND WHILE HER ACTING AND MUSIC CAREERS PLAY A ROLE, IT’S HER BUSINESS VENTURES THAT HAVE REALLY PROPELLED HER TO THE TOP.

THE BULK OF HER WEALTH COMES FROM HER MAKEUP LINE, RARE BEAUTY, WHICH SHE STARTED JUST FIVE YEARS AGO. THAT ACCOUNTS FOR MORE THAN 80-PERCENT OF HER WEALTH. THE COMPANY BROUGHT IN 350-MILLION-DOLLARS IN REVENUE LAST YEAR, ACCORDING TO PITCHBOOK.

SHE ALSO HAS LUCRATIVE BRAND DEALS WITH COMPANIES LIKE PUMA AND COACH, AND SHE CO-FOUNDED WONDERMIND, A MENTAL HEALTH STARTUP VALUED AT 100-MILLION-DOLLARS.

UNLIKE HER BILLIONAIRE BESTIE TAYLOR SWIFT, GOMEZ’S MUSIC CAREER MAKES UP JUST ABOUT 7% OF HER WEALTH, WHILE HER ACTING BRINGS IN EVEN LESS.

STILL, GOMEZ IS VERY MUCH A STAR ON SCREEN. SHE STARTED AS A CHILD STAR IN THE SHOW ‘BARNEY AND FRIENDS,’ AND LATER MOVED ON TO DISNEY WITH WIZARDS OF WAVERLY PLACE. SHE’S CURRENTLY IN THE SPOTLIGHT FOR HER ROLE IN THE EMMY-NOMINATED “ONLY MURDERS IN THE BUILDING.” SHE BRINGS IN AT LEAST SIX MILL PER SEASON FOR THAT, AND HER BONUS IS GETTING TO HANG OUT WITH MARTIN SHORT AND STEVE MARTIN.

WHETHER IT’S BEAUTY, BUSINESS, SINGING OR ACTING, SELENA GOMEZ IS PROVING SHE’S NOT JUST STAR, BUT A POWERHOUSE.

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