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Selena Gomez is well on her way to become a billionaire after a skyrocketing increase in net worth. The singer-actor owns several businesses, including her beauty line Rare Beauty, a health platform, and a production company.
Interestingly, her recent net worth jump from $95 million to $800 million has really been one for the books. Her wealth increased by a wopping 745% this year. The Lose You To Love Me singer is all set to enter the same billionaire club as Rihanna with her Fenty brand.
As fans accross the world celebrate her birthday on July 22, 2023, it's worth looking into her businesses and investments in light of the recent uptick in her net worth.
All about Selena Gomez's businesses amid the whooping increase in her net worth
Selena Gomez, who just turned 31 on July 22, has had huge success in both her acting and singing career over the years. She rose to fame with her role as Alex Russo in Disney Channel's Wizards of Waverly Place. Her massive popularity and strategic ideas have helped her achieve many bussiness accolades as well.
According to Celebrity Net Worth, Selena Gomez has a net worth of $800 million. Although, the exact number has not been confirmed by Forbes yet, she is only 200 million short of becoming a billionaire, all thanks to her diverse and profitable business portfolio.
Rare Beauty
Selena's most successful business is Rare Beauty, her make-up and wellness brand. Rare Beauty was launched on September 3, 2020, by Selena Gomez, and it earned $100 million in revenue that year. The make up brand is generating $300 million, and has an estimated worth of $1.2 billion, according to PinkVilla.
Celebrity Net Worth has also reported that 1% revenue of Rare Beauty gets deposited in the Rare Impact Fund. The company also hosts fundraising events, having famously held one in the White House in 2022. The fundraiser helped the company make $500,000. The Rare Beauty team plans to raise at least $100 million in its first ten years, and donate 70% of the funds to BIPOC-led organisations.
July Moon Production
Along with Rare Beauty, Selena Gomez has many other revenue streams and businesses. The Hotel Transylvania actress has a production company called July Moon Production, which she launched in 2008.
The company has produced the famous series 13 Reasons Why with Netflix and many other projects.
Wonderland
The Who Says singer has always been outspoken about mental health and her battle with health issues such as Lupus. It has garnered her a reputation of being approachable and friendly to all.
In 2019, Selena co-founded a mental health platfrom called Wonderland to help people understand and control their mental health issues. The American singer's humble persona has also helped her gain a sincere following who want to invest in her products.
Social media endorsements & Serendipity
Gomez has the number one female following on Instagram with over 426 million followers, and the number keeps rising exponentially. Her impactful and strong social media presence has secured her major brand endorsements with reputable labels like Puma, Louis Vuitton, and Coach.
Selena also owns an ice cream brand called Serendipity, founded in 2020, that is also loved by her fans. Thus, it is evident that the singer has several revenue-generating sources that benefit deeply from her brand value as well as smart business decisions.
More recently, Selena just posted a photo on Instagram to celebrate her turning 31, with her legion of followers.
She expressed her gratitude for everything she has in life. Selena also reminded her followers about the Rare Impact Fund, a project she started to help raise awareness about mental health. She asked her devoted fandom to help donate for the fund.
