AceShowbiz - Selena Gomez has achieved the illustrious milestone of becoming a billionaire, according to Bloomberg. The multifaceted star, who began her career on Disney Channel and vaulted to fame, now boasts a net worth of $1.3 billion. The "vast bulk" of Gomez's wealth mainly comes from her flourishing makeup brand, Rare Beauty, which she founded in February 2019.

Rare Beauty, a vegan and cruelty-free makeup line, quickly became a sensation in the beauty industry. Gomez has a 51% majority stake in the brand, and it accounts for over 80% of her net worth. Marketing expert Stacy Jones notes, "Selena is not just a pop star. She's a multifaceted businesswoman with diverse income streams contributing to her impressive net worth."

Alongside her beauty brand, Gomez's financial empire includes investments in Wondermind, a mental health startup, a lucrative real estate portfolio, earnings from her music and acting careers, and paid partnerships.

She also stars in Hulu's hit series "Only Murders in the Building," which was recently renewed for its fifth season, and her Instagram presence - a colossal 424 million followers strong - enables collaborations with brands like Puma SE, Coach, and Louis Vuitton, reportedly earning her upwards of $30 million per endorsement deal.

Gomez's music career, although not the largest part of her wealth, has also been fruitful. Her discography includes memorable hits such as "Lose You to Love Me" and "Look at Her Now," and she has released six albums both as a solo artist and with her band, Selena Gomez & the Scene.

Her journey to billionaire status parallels that of her best friend, Taylor Swift, who achieved the same financial milestone in October 2023. While Gomez's wealth attributed to her beauty brand, Swift's comes largely from her music, including her record-breaking Eras Tour which made over $370 million.

Gomez's diverse career choices and business ventures underscore her adaptability and resilience. As Brent Saunders, CEO of Bausch + Lomb Corp and an investor in Wondermind, told Bloomberg, "You've got a real role model of how a celebrity can use their influence and expertise to both do good and create good business."

As the 32-year-old continues to expand her empire, it's clear that Gomez's innate ability to balance artistry with business acumen has carved her a distinctive niche among young billionaires. Her journey offers an engaging blueprint of success for her young admirers, illuminating the pathway from stardom to substantial entrepreneurial accomplishments.