Selena Gomez’s Net Worth Soars 742% With Rare Beauty, On The Verge Of Billionaire Status!

Selena Gomez, the celebrated singer-songwriter, is on the cusp of reaching a billionaire status, all thanks to her thriving beauty line, Rare Beauty. The astonishing leap in her net worth has brought her closer to joining the ranks of music icon Rihanna. This financial milestone comes on her 31st birthday, observed on July 22, 2023.

Rare Beauty’s Extraordinary Success

Gomez launched her beauty empire in September of the previous year, and within a short span, it has experienced unprecedented success, generating triple the revenue it did in 2022. The singer’s immense popularity on Instagram, where she became the most followed woman, has significantly contributed to the exponential growth of her business.

Net Worth Shoots to $800 Million

According to Celebrity Net Worth, Selena Gomez’s current net worth stands at a staggering $800 million, leaving her just $200 million away from the coveted billionaire status. The beauty products under the Rare Beauty brand, ranging from $5 to around $30, have proven to be a massive hit. The company earned an impressive $100 million in revenue during its launch and has now reached an impressive $300 million.

Rare Impact Fund’s Philanthropic Contributions

Notably, 1% of the revenue from Rare Beauty products is allocated to the company’s in-house Rare Impact Fund, which actively participates in fundraising events. Last year, they organized a successful event at the White House, raising $500,000. The company’s ambitious plans include raising $100 million over the next ten years, with 70% of it directed towards BIPOC-led organizations.

Social Media Reacts

The news has gone viral on social media platforms, with fans expressing their excitement and support for Gomez’s achievements. Twitter and Pop Tinz are abuzz with discussions, congratulating the artist on her astounding financial success.

Awaiting Forbes’ Confirmation

While Selena Gomez’s net worth is estimated at $800 million, Forbes is yet to release the official number, keeping fans eagerly anticipating confirmation of her billionaire status.

Connect With Debonair Magazine On Social Media [ Facebook | Instagram | Twitter | LinkedIn ] To Get Real-Time Updates On The Market.