Selena Gomez, the 32-year-old singer, actress, and businesswoman, has officially become a billionaire, according to Bloomberg. Her estimated fortune of $1.3 billion largely comes from her highly successful cosmetics brand, Rare Beauty.
Many people know her for her music, acting, and the popularity of her brand. Through this business, her financial situation has improved.
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This follows news earlier this year about her friend Taylor Swift, who at 34 years old, also became a billionaire.
“I truly feel like it was the place I started, and I will always be grateful for that time,” Gomez said of the Oct. 29-slated project in a recent interview with People. “I just hope that this new chapter can bring a whole new audience joy the same way that we did when we were younger.”
Taylor’s fortune, valued at $1.1 billion, came primarily from her music, world tours, and real estate. Unlike Selena, Taylor earned her billionaire status solely through her work as a musician.
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On the personal front, Selena is reportedly in a happy relationship with music producer Benny Blanco. There have even been rumors about a possible engagement between the two.
Read More: Selena Gomez’s Fiancé Shows Off Persian Carpet-Style Pedicure with Fringe
The publication clarifies that most of Selena Gomez’s ten-figure fortune comes from earnings from her cosmetics brand, Rare Beauty. She launched this brand five years ago. In particular, Liquid Blush, which has become the brand’s best-selling product, earned Gomez $70 million last year alone.
Meanwhile, Selena’s ex, Justin Bieber, is also doing well. He and his wife, Hailey, recently welcomed a baby boy, and Hailey is also involved in the beauty industry, promoting her own cosmetics brand.