American actress, singer, and entrepreneur Selena Gomez has officially joined the billionaire club, with Bloomberg estimating her net worth at $1.3 billion. While some of her fortune comes from her music, acting, and brand partnerships, the majority is attributed to her successful makeup line, Rare Beauty, which she launched in 2020. This accomplishment places the 32-year-old among the youngest self-made billionaires on the Bloomberg Billionaire Index, alongside Taylor Swift and Rihanna.

Bloomberg also highlights Gomez's influence as the world's third most-followed person on Instagram, with 424 million followers, trailing only behind soccer stars Cristiano Ronaldo, who has 639 million followers, and Lionel Messi, with 505 million.

Gomez's career began with Disney Channel's "Wizards of Waverly Place" and has since included a range of popular TV shows and movies. She starred in and produced the hit show "Only Murders in the Building" alongside comedy legends Martin Short and Steve Martin. Her previous ventures also included the now-canceled cooking show "Selena + Chef." Additionally, endorsement deals with luxury brands like Louis Vuitton, Coach, and Puma have contributed significantly to her income, according to Bloomberg.

However, it is Rare Beauty that has been the primary driver of her wealth. The makeup brand reported net sales of $400 million over a 12-month period leading up to February. Gomez is also reportedly exploring investment opportunities to secure a $2 billion valuation for the company.

In 2020, Gomez revealed her diagnosis of bipolar disorder and has since become a vocal advocate for mental health. She founded the Rare Impact Fund with the goal of raising $100 million to improve access to mental health services. In her business dealings, Gomez has emphasized that any partnership must include a charitable component or focus on mental health.

Apart from her beauty brand, Gomez earns revenue from "Only Murders in the Building," where she reportedly makes $6 million per season. She also receives additional income from her music royalties, although these contribute a smaller portion to her overall wealth.