Selena Gomez, renowned for her musical talent and acting skills, has quieted her critics by achieving incredible financial success. At just 32 years old, she has claimed her place as one of the youngest self-made billionaires, with her net worth reaching around $1.3 billion as of September 2024. Most of this wealth stems from her immensely successful beauty brand, Rare Beauty, which she launched in 2020.
The concept for Rare Beauty was born from Gomez’s desire to promote self-acceptance and inclusivity, emphasizing beauty products as tools of empowerment rather than as needs for validation. The brand has hit remarkable milestones, with over $350 million in total sales by 2023. A standout product, the viral ‘melting’ blush, has alone contributed significantly to these earnings.
“I think being the best role model is being honest, even with the ugly and complicated parts of yourself,” Gomez stated, reflecting on her evolution since her days as the Disney star of Wizards of Waverly Place. Those early experiences taught her valuable lessons about public perception and personal authenticity. Now, she feels empowered to share both her triumphs and struggles openly.
Despite focusing heavily on her beauty empire, Gomez has not completely abandoned her roots in music and television. With her recent release titled “Call Me When You Break Up,” Gomez has immersed herself back in the music scene. The song, described as embodying the essence of toxic relationships, features artist Gracie Abrams and showcases the push for emotional honesty among younger audiences.
“Call me when you break up / I’d like to be there when the day come / You know I’m always here don’t ever be a stranger,” she sings, illustrating the catchy yet relatable narrative steeped in humorous longing. The upbeat pop sound combined with its provocative lyrics is anticipated to make this track the anthem of the season.
Interestingly, the promotional backdrop for her song has been accompanied by some controversy. Recently, fellow actress Karla Sofía Gascón found herself embroiled in backlash after appearing to insult Gomez via social media. The viral tweet allegedly labeled Gomez as a “rich rat,” stirring up unwanted drama around the release of Gomez’s song.
“Of course, that's not mine,” Gascón clarified during her interview, aiming to detach herself from the false narrative attributed to her. “I would never refer to her (Gomez) in such derogatory terms,” she asserted, emphasizing her commitment to positivity and kindness.
Examining their financial standings reveals stark contrasts between Gomez and her former boyfriend, Justin Bieber. While Gomez has wisely diversified her income through entrepreneurship, Bieber’s net worth is approximately $300 million. His recent decision to sell his entire music catalog for $200 million exemplifies his strategic financial choices, making headlines as one of the highest payouts ever for music under the age of 70.
Bieber initially gained fame as one of the early pop stars of the 2010s, but Selena’s path has diverged significantly. Where Bieber's income streams predominantly arise from tours, endorsements, and lucrative merchandise sales, Gomez generates nearly 84% of her wealth through Rare Beauty and its lower markup compared to competitors like Rihanna’s Fenty Beauty.
Both artists continue to hold fans' hearts, but Gomez’s business acumen has secured her place at the top of the economic ladder. Her endorsement deals with brands such as Puma, which earned her $30 million, and Coach, netting $10 million, reflect her status as not just another celebrity but as a savvy entrepreneur.
Selena has made it clear she balances her various careers. Her acting presence remains prominent, especially with her role alongside comedy legends Martin Short and Steve Martin in Only Murders in the Building, where her earnings reportedly reach around $6 million for her latest season.
Gomez’s multifaceted career, from acting to music to fashion, coupled with the challenges she faced growing up within the entertainment industry, truly portray her as more than just another celebrity. Her sincerity, resilience, and business strategy have led her to redefine what it means to be successful as both an artist and a brand owner.
Looking forward, Selena Gomez is expected to keep breaking barriers and inspiring others, particularly Gen Z, with her work and genuine commitment to authenticity. She has transformed what it means to lead as both an entertainer and entrepreneur, setting standards as she navigates her path, ensuring the world knows who she is and what she stands for.