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American singer Selena Gomez rose to fame as a child star on Barney and the Disney Channel. Her latest role? Billionaire. The 32-year-old actress and singer has amassed a fortune worth $1.3bn, according to Bloomberg. This added the celebrity to its billionaire index on Friday.
It said her wealth came mainly from her Rare Beauty make-up company. She founded it five years ago and retains a stake worth more than $1bn, the publication estimated.
The brand’s success has made her one of the “youngest female self-made” wealthy on the list. This is alongside the likes of Taylor Swift and Rihanna.
Rare Beauty, known for liquid blush and lip tint that has had viral success on social media, reportedly did net sales of $400m in the 12 months to February.
Gomez has also brought in tens of millions of dollars from endorsement deals with the likes of Louis Vuitton, Coach and Puma.
Bloomberg said she also took home “at least” $6m per season for her Emmy-nominated turn in the Hulu hit “Only Murders in the Building”, which was recently renewed for a fifth season.
Bloomberg said;
Despite her on-screen and musical success – including multiple nominations for Emmy and Grammy Awards – those achievements count for a relatively small fraction of her wealth,
Gomez, born in Texas, has spent nearly three decades in the public eye. This is where her success has brought scrutiny of her fashion, boyfriends and health travails. This includes diagnoses of bipolar disorder and the autoimmune disease lupus.
The singer became the most followed woman in the world on Instagram last year. She counts more than 424 million fans on the platform, ahead of Swift and Kylie Jenner.
This is a dubious distinction for a star who has discussed the platform’s negative impact on her mental health and at times deleted it. On Friday, the account was quiet as word of her latest distinction hit headlines.
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