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By Seyi Babalola
American pop star, Selena Gomez is now a billionaire, according to Bloomberg’s Billionaire Index.
The actress, singer, and entrepreneur built an estimated $1.3 billion fortune through her Rare Beauty brand, music, and successful performances.
According to the publication, Gomez’s share in Rare Beauty Brand Inc. accounts for over 80% of her net worth.
Brand alliances, acting gigs, and mental-health businesses all added to her fortune.
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Gomez first gained popularity as a kid star in the 2000s. She allegedly earned about $3 million for her role as Alex Russo on the Disney Channel’s Wizards of Waverly Place from 2007 until 2012.
She then pursued a music career, initially with the pop-rock band Selena Gomez & the Scene and later as a solo artist.
With 424 million followers, Gomez is the third most popular person on Instagram, after only sports giants Cristiano Ronaldo and Lionel Messi.
Music tours accounted for less than 5% of Gomez’s net worth, while album and record sales made for less than 2%. She has not toured since 2016.
The majority of Gomez’s fortune—roughly $1.1 billion—comes from her ownership in Rare Beauty.
