Selena Gomez, the acclaimed American singer and actress, has officially entered the youngest billionaires club with a net worth of $1.3 billion. This milestone comes on the heels of the remarkable success of her beauty brand, Rare Beauty.

At just 32 years old, Gomez has achieved significant financial success, primarily driven by her diverse ventures beyond her entertainment career. Her beauty brand, launched in 2019, has played a crucial role in reaching this financial milestone. According to a recent Bloomberg report, Rare Beauty has substantially contributed to Gomez's estimated net worth, making her one of the youngest female billionaires in the United States.

Rare Beauty has been a major success in the beauty and influencer markets, accounting for approximately 81.4 percent of Gomez's total net worth. Marketing expert Stacy Jones highlighted Gomez's multifaceted career, noting, “Selena is not just a pop star. She’s a businesswoman with diverse income streams contributing to her impressive net worth.”

In addition to her success with Rare Beauty, Gomez's wealth is also attributed to her stake in the mental health startup Wondermind, revenue from music album sales, real estate investments, and earnings from streaming deals, brand partnerships, concert tours, and acting projects. Although her last solo tour, the Revival Tour, concluded in 2016 and her most recent album, 'Rare', was released in 2020, Gomez remains a prominent figure in entertainment.

She continues to shine as both a star and executive producer of the popular Hulu series 'Only Murders in the Building', which has recently been renewed for a fifth season. Gomez received her first Emmy Award nomination for Outstanding Lead Actress in a Comedy Series for the show, which has been nominated for Outstanding Comedy Series for three consecutive years.

Gomez is also set to revisit her television roots with the upcoming sequel series 'Wizards Beyond Waverly Place'. Premiering on October 29 at 8 pm ET/PT, this new series will follow the success of her original Disney Channel show, 'Wizards of Waverly Place'. Gomez and former co-star David Henrie are reprising their roles and also taking on executive producer roles for the sequel.

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