One of the most loved pop culture icons of the modern era and the most followed woman on Instagram, Selena Gomez celebrated her 31st birthday on July 22 with a Barbie-themed party. A day before her birthday, the well-known singer, businesswoman, producer, and actor had her estimated net worth updated for 2023. While both these events got her in the headlines, the huge hike in her wealth has taken everyone by surprise.
Kicking off her career at age seven as a child actor on the Disney Channel, Selena has certainly grown up in the world’s eyes. While her various acting projects and eventual shift to singing rose her to great prominence in media, Selena wasn’t still in the ranks to become a billionaire until recent years, and it’s mostly owed to her beauty brand Rare Beauty.
How much is Selena Gomez worth in 2023?
Selena Gomez is officially in line to enter the billionaire celebrity club after climbing to a $800 million net worth, according to Celebrity Net Worth. The sudden rise has come after her 3-year-old makeup brand Rare Beauty reportedly generated at least $300 million this year, a $200 million increase from 2022. Gomez owns 100 percent of her company and thus does not need to share her revenue with partners, unlike Rihanna’s Fenty, which is only 50 percent owned by her.
Gomez’s increased wealth can also be linked to her unmatched social media following, which makes her one of the most sought-after influencers. She currently has more than 58 million followers on TikTok, 426 million followers on Instagram, and more than 33 million subscribers on YouTube. She has been known to earn anywhere from $500,000 to $800,000 for a single sponsored post on Instagram.
Additionally, Selena is also co-founder of a mental health startup called Wondermind and became an owner and investor of the ice cream brand Serendipity in 2020. She also has multiple endorsement deals and collaborations with companies such as Pantene, Coach, Puma, and more, earning her millions of dollars. And the list of Selena’s income sources doesn’t stop here. Our favorite businesswoman is also enjoying huge profits in real estate.
Selena Gomez currently stars in Hulu’s Only Murders in the Building as Mabel Mora and will reprise her role in the upcoming season 3. Reportedly, she earns at least $600,000 per episode on the series, with additional profits from her producer role. Gomez will also soon release a new album, which she teased last month.