Washington: Singer Selena Gomez entered the billionaires’ list as Bloomberg estimated her net worth of $1.3 billion.
The 32-year-old former Disney Channel pop star and actress has cashed in on her highly successful beauty and cosmetics brand, media reports said.
According to Bloomberg, Selena has amassed a fortune worth $1.3bn, which added the celebrity to its billionaire index on Friday.
It said her wealth came mainly from her Rare Beauty make-up company, which she founded five years ago and retains a stake worth more than $1 billion, the publication estimated.
The brand’s success has made her one of the “youngest female self-made” wealthy on the list, alongside the likes of Taylor Swift and Rihanna.
Rare Beauty, known for its liquid blush and lip tint that have gone viral on social media, allegedly made $400 million in net sales in the year ending February.
According to reports, Gomez has earned tens of millions of dollars from endorsement deals with brands such as Louis Vuitton, Coach, and Puma.
It further stated that she earned “at least” $6 million each season for her Emmy-nominated performance in the Hulu blockbuster “Only Murders in the Building,” which was just renewed for a fifth season.
Despite her on-screen and musical prowess, which includes many Emmy and Grammy nominations, Bloomberg stated that these accomplishments account for only a small portion of her riches.
Last year, the singer became the world’s most-followed female Instagram user.
She has more than 424 million Instagram followers, surpassing Swift and Kylie Jenner—a questionable accomplishment for a celebrity who has spoken out about the platform’s harmful influence on her mental health and has deleted it on occasion.
On Friday, the account was silent as news of her newest achievement made headlines.
