American singer, actress, and producer, Selena Gomez has become one of the youngest self-made billionaires in United States (US).
Gatekeepers News reports that Bloomberg on Friday, valued her net worth at $1.3 billion.
Some of the singer’s wealth comes from singing, brand partnerships, and acting, but a greater part of her wealth comes from her makeup brand, ‘Rare Beauty’ which is a success with influencers and teens that was created five years ago a success with influencers and teens.
Bloomberg calculated her wealth based on “estimated value” of her stake in the beauty brand, plus her interest in mental health platform, ‘Wondermind’ and various other earnings from her music, acting, properties, and money she makes from partnerships that she posts about on social media, which includes her 424 million followers on Instagram.
Selena’s popularity on Instagram makes her the third most followed person, coming up after the soccer icons, Cristiano Ronaldo who has 638 million followers, and Lionel Messi who has 504 million, thus reportedly getting massive endorsements with Puma, worth $ 30 million and Coach, a $10million deal.
Her following on Instagram has also helped her ‘Rare Beauty’ brand, as she is in the celebrity-led category of makeup brands dominated by Rihanna and the Kardashians.
According to reports, Selena also has reached out to investors for her makeup brand, seeking a $2 billion valuation.
According to the publication; other revenue streams for the thirty-two-year-old singer include income from her Hulu show “Only Murders in the Building,” which was just renewed for a fifth season where she makes $6 million a season, and a smaller slice from her music royalties.
