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Selena Gomez is on the brink of becoming a billionaire, given her achievements in music, acting and entrepreneurship. The multi-talented star embarked on her professional journey at the age of seven and hasn't looked back since then.
The 31-year-old's net worth in 2024 is reportedly estimated at $800 million. This is a massive jump from her net worth estimated in 2022, which was reported at $95 million.
The shift has been attributed primarily to the success of her beauty brand, Rare Beauty, that was launched in 2020. According to the World Branding Forum, the brand's popular product, Rare Beauty Blush, hit a booming revenue of $70 million in 2023.
Apart from the beauty line, Gomez is a sought-after actress. Most recently, Gomez has been cast as the protagonist for four seasons of Only Murders In The Building and is all set to play legendary musician, Linda Ronstadt in a new biopic.
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Selena Gomez is on her way to becoming a billionaire
With over two decades of industry experience, Selena Gomez has been unstoppable. Moreover, the singer, actress, entrepreneur and philanthropist is just inches away from becoming a billionaire. Her net worth in 2024 is reportedly $800 million and is expected to increase further on.
The Love On singer has, over time, expressed her wish to separate herself from her Disney identity and has carved her own path to success. While the Wizards Of Waverly Place alum continued to work on her singing and acting career in her teens, her entrepreneurial mindset could be seen early on.
Selena Gomez launched her own line of clothing called Dream Out Loud, in the fall of 2010 and remained active until 2014. However, her entrepreneurial dreams soared with the launch of her own line of beauty products, Rare Beauty. The brand was an instant hit with the audience for its products and appeal to body inclusivity, and through its impact, the fund supports mental health initiatives.
Apart from her businesses, Selena Gomez is also the most-followed actress and singer on Instagram, with 428 million followers. She took to Instagram to celebrate it with Selenators and captioned the carousel:
"Wishing I could hug all 400 million of you 🤍"
Her YouTube channel has more than 33 million subscribers, and she has 58 million subscribers on TikTok.
According to Variety, Selena gets paid around $600,000 per episode for Only Murders In The Building and charges $2,558,000 for a sponsored post on Instagram. Additionally, Gomez has executive produced the hit show 13 Reasons Why and a Netflix-exclusive documentary, Living Undocumented.
Apart from shuffling between her business, acting and music, Selena Gomez also has co-founded a company exclusively for mental health resources called Wondermind. In August 2022, Wondermind raised $5 million at a $100 million valuation.
The Single Soon singer is also an investor in a food delivery company called GoPuff. Finally, the Monte Carlo actress has been in the real estate market and has a stunning property portfolio.
Selena's wealth profile is diversified and has continued to grow each year. Most remarkably, the 31-year-old's net worth has jumped significantly from $95 million in 2022 to $800 million in 2024.
The shift has been primarily attributed to the success of Rare Beauty, along with continued success of her acting in Only Murders In The Building, and music career.
