Selena Gomez becomes billionaire at 32

Selena Gomez has achieved the billionaire status, thanks to profits amassed from her various ventures, including her own make-up company, Rare Beauty.

According to the Bloomberg Billionaires Index, the actress has now reached a fortune worth $1.3 billion (P73 billion), making her one of the youngest female self-made billionaires in the US along with Taylor Swift and Rihanna.

Gomez's beauty brand had a large contribution to her wealth, with Bloomberg estimating that it has a stake in worth more than $1 billion (P56 billion) and comprises 81% of Gomez's money.

Rare Beauty was launched on Sept. 3, 2020 in stores in North America. Since then, it has been made available to countries in Europe, Asia, and the Middle East.

Gomez, who is a well-known mental health advocate, created the brand to break the stigma on mental health and empower individuals to be confident while also redefining the meaning of beauty.

Bloomberg reported that she is now seeking a $2 billion (P112 billion) valuation from investors of Rare Beauty.

Aside from this, the actress is also making significant income from brand endorsements, touring, her mental health startup Wondermind, albums, acting, streaming and real estate.

Particularly, her deals with Puma are said to be worth $30 million (P1.6 billion), and $10 million (P562 million) with Coach.

She is currenly among the main cast of the mystery television series Only Murders in the Building, where she reportedly earns millions of dollars per season. The show was recently renewed for a fifth season.

Gomez is now set to return for the upcoming Disney television series Wizards Beyond Waverly Place, which is a spin-off and sequel to 2007's Wizards of Waverly Place. Her other projects include musical crime film Emilia Pérez and cooking show Selena + Restaurant.