Selena Gomez Transforms Into a Billionaire Through Her Beauty Brand
Friday, 6 September 2024, 15:30
Selena Gomez's Rise to Billionaire Status
Selena Gomez has entered a rare circle of young billionaires fueled primarily by her thriving cosmetics line, Rare Beauty. Her net worth of approximately $1.3 billion reflects the substantial impact her beauty brand has made since its launch in 2020.
Success of Rare Beauty
- Recognized for a standout blush product, which generated $70 million in 2022 alone.
- The brand is wholly owned by Gomez, without a parent company.
- Investors include New Theory Ventures' Nikki Eslami and CEO Scott Friedman.
Earlier this year, speculation arose about Gomez considering a sale of Rare at a $2 billion valuation, though she has since denied any imminent sale.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.