Selena Gomez has recently joined the list of billionaires in Bloomberg’s rating as the star’s assets are estimated at $1.3 billion. Majority of this success can be attributed to her beauty line, Rare Beauty, which she released in the year 2019. Her income from her cosmetics line, her singing and acting business also contributed to her stake in the real estate while her endorsements placed her amongst the richest. This accomplishment puts her in the same league with her fellow compatriot Taylor Swift who became a billionaire in 2023. This is the case of Gomez who has transformed from a pop star and is now a business person; it is therefore advisable for one to expand in the entertainment industry.
The Beauty of Success: Rare Beauty’s Impact
This was a risky decision that was taken by Selena Gomez when she decided to venture into the beauty industry in 2019 with Rare Beauty. According to Bloomberg, Gomez has more than 70% of the company’s stakes and more than 80% of her total asset base. Currently, Rare Beauty has already been a prominent player in the influencer market of the industry and it is highly positively accepted by the audience and beauty enthusiasts.
Marketing analyst Stacy Jones backed this up by saying, “Selena is not only a pop star but a great entrepreneur with other streams of income to her business ventures. This was evident by the launch of Rare Beauty.”
Billionaire Besties: Gomez and Swift’s Shared Success
Like Taylor Swift, Selena Gomez is now a billionaire whose career has also seen her skyrocket to fame. It was stated that Swift joined the billionaire club in October of 2023 and most of her earnings are generated from her music industry. Based on the research done, it was estimated that Swift’s net worth is to be $1 billion in 2023, was calculated by aggregating the value of her music catalog, the revenue generated from her Eras tour which was her most successful tour to date, streaming revenue, and album sales.
Each of them is a person of the new generation of entertainment industry moguls who were able to transform their talents into huge business empires. It is necessary to underline that the growth of their fortune reflects the new type of stars, who actively use diversification and business as the ways of gaining money.
