Selena Gomez has officially joined the ranks of billionaires, thanks largely to her successful beauty brand, Rare Beauty. Known for her early breakout role on Disney Channel’s *Wizards of Waverly Place*, Gomez has steadily expanded her career across acting, music, and now, the beauty industry.
According to Bloomberg, Selena Gomez’s net worth currently stands at $1.3 billion, a milestone primarily attributed to her $1 billion stake in Rare Beauty. The beauty brand has been a game-changer for Gomez, significantly contributing to her impressive financial status. Rare Beauty has seen substantial growth since its inception, with sales of popular products like its liquid blush generating impressive revenue. In 2023 alone, the liquid blush contributed $70 million to the company’s bottom line. As of 2024, the entire company is valued at approximately $2 billion.
In a May 2024 interview with TIME, Gomez shared insights into Rare Beauty and her vision for the brand. Despite its financial success, she emphasized that her primary goal was never about amassing wealth. “I have this weird thing in my head where if I focus on the numbers, I’ll lose whatever it is that made Rare Beauty Rare Beauty,” she explained. Gomez stressed that the essence of Rare Beauty is about promoting self-love and confidence, not just financial gain.
Gomez also expressed her pride in the brand’s ability to connect with people on a personal level. “I get so much joy when people say, ‘Hey, that helped me through a difficult time,’” she said, highlighting the positive impact of her brand. Beyond Rare Beauty, Selena has also accumulated wealth through various other ventures. In 2017, she entered a lucrative two-year partnership with Puma SE, reportedly worth around $30 million.
She has previously collaborated with high-profile brands like Coach and Louis Vuitton, further boosting her financial portfolio. Selena Gomez’s journey from child star to billionaire showcases her versatility and business acumen, solidifying her status as a prominent figure in both entertainment and the business world.
In other news – MDC Zambia dismisses national chairman
Felix Mutati, the leader of the Movement for Democratic Change (MDC), has announced the immediate withdrawal of Sam Moyo from the position of national chairman. This decision was communicated to party members at the MDC headquarters in Lusaka yesterday.
Addressing the gathered members, Mutati stated that the decision to remove Moyo was by demands he received from the party’s top leadership. Mutati emphasized that this action was taken in line with the powers granted to him by the MDC’s constitution. Read More
