Selena Gomez is officially a billionaire – and it’s not thanks to Hollywood

The actor and musician launched Rare Beauty in 2020

Selena Gomez is officially a billionaire thanks to the success of her beauty brand, Rare Beauty.

The actor and musician, 32, started the company in 2019 and officially launched the brand in February 2020, taking the name from her album of that year, Rare.

Gomez is now worth $1.3bn according to the Bloomberg Billionaires Index, which has added her to its ranks for the first time.

Born in Grand Prairie, Texas, in 1992, Gomez started her career as a child actor and became a Disney Channel star on sitcom Wizards of Waverly Place.

She has since built a career as a singer and actor, but the vast majority of her wealth comes from Rare Beauty.

Stacy Jones, founder of LA branding agency Hollywood Branded, told Bloomberg: “Selena is not just a pop star. She’s a multifaceted businesswoman with diverse income streams contributing to her impressive net worth.”

Selena Gomez is known for her role in Dinsey+’s ‘Only Murders In The Building’ (Getty Images)

When she launched the brand, Gomez outlined in a promotional video what “being rare” means to her.

“Being rare is about being comfortable with yourself. I’ve stopped trying to be perfect. I just want to be me,” she said.

“I think Rare Beauty can be more than a beauty brand. I want us all to stop comparing ourselves to each other and just start embracing our own uniqueness.”

Gomez went on to say that people are “not defined by a photo, a like or a comment”, adding: “Rare Beauty isn’t about how other people see you, it’s about how you see yourself.”

In a review of the beauty range, The Independent’s Lucy Partington said it “really is worth the hype.”

“Overall, we were incredibly impressed with Selena Gomez’s line – it feels like real passion has been put into every product,” she wrote.

“The shade ranges are impressive – from the 48 skin-true foundation and concealer colours through to the wearable blushers and muted lipsticks – and everything feels like it belongs.

“We didn’t try any dud products; the formulas deliver and the pay-off and blendability is excellent. The pigments can be built up or worn sheer depending on either personal preference or on the occasion, plus the packaging is chic.”

Gomez can currently be seen in the fourth season of Only Murders in the Building, the comedy murder-mystery series she stars in alongside Steve Martin and Martin Short.

Earlier this year, it was announced that she has been cast to play folk rock trailblazer Linda Ronstadt in a new biopic.