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Selena Gomez denies plans to sell Rare beauty amid new status
Selena Gomez, the 32-year-old singer and actress, has achieved billionaire status, according to the Bloomberg Billionaires Index.
With an estimated net worth of $1.3 billion, Gomez joins the ranks of self-made billionaires, becoming one of the youngest female entrepreneurs to do so in the US.
Her cosmetics company, Rare Beauty, is the primary source of her wealth, accounting for over 81% of her fortune.
In addition to Rare Beauty, the Single Soon singer wealth comes from a diverse range of sources, including endorsement deals, her mental health platform Wondermind, music sales and touring, acting career, and real estate investments.
Notably, her beauty brand, launched in September 2020, has achieved significant success, generating over $400 million in net sales as of March 2024.
There have also been rumours of a potential sale of the brand, although this remains unconfirmed.
However, she addressed the rumours in May during her interview with The Times. She told the outlet, “I don’t have any plans on that, genuinely.”
On the other hand, Gomez’s accomplishment follows her close friend Taylor Swift, who reached billionaire status earlier this year.
