Selena Gomez Now Officially A Billionaire

Selena Gomez has added yet another achievement to her already impressive list—she’s now officially a billionaire, according to a report by Jordan Valinsky for CNN.

Gomez's net worth is valued at $1.3 billion, attributing the "vast bulk" of her wealth to Rare Beauty, her five-year-old makeup line, which has gained immense popularity, especially with influencers and teens. I Photo: Selena Gomez Facebook

At 32, the actress, singer, investor, and entrepreneur has reached this financial milestone, making her one of the youngest self-made billionaires in the United States.

Bloomberg values her net worth at $1.3 billion, attributing the "vast bulk" of her wealth to Rare Beauty, her five-year-old makeup line, which has gained immense popularity, especially with influencers and teens.

While some of Gomez's wealth comes from her career in singing, acting, and brand partnerships, the majority is tied to her stake in Rare Beauty, as well as her interest in the mental health platform Wondermind and other various earnings from her entertainment ventures, properties, and social media endorsements.

With 424 million Instagram followers, Gomez is the third most followed person on the platform, behind soccer legends Cristiano Ronaldo (638 million) and Lionel Messi (504 million).

Her popularity has led to massive endorsement deals, including a reported $30 million partnership with Puma and a $10 million deal with Coach.