Selena Gomez can now add “billionaire” to her impressive list of accomplishments. The 32-year-old actress, singer, investor, and entrepreneur has reached this financial milestone, becoming one of the youngest self-made billionaires in the United States. According to Bloomberg, her net worth is estimated at $1.3 billion.

Gomez’s wealth is derived from a combination of her singing, acting, and lucrative brand partnerships, but the “vast bulk” of her fortune is attributed to Rare Beauty, her successful five-year-old makeup line. The brand has gained immense popularity among influencers and teens, playing a significant role in her financial ascent.

Bloomberg’s valuation of Gomez’s wealth includes her stake in Rare Beauty, her involvement in the mental health platform Wondermind, and various earnings from music, acting, real estate, and social media partnerships. With 424 million followers on Instagram, Gomez is the third most followed person on the platform, trailing only soccer legends Cristiano Ronaldo (638 million) and Lionel Messi (504 million). Her massive following has secured major endorsement deals, including a $30 million partnership with Puma and a $10 million deal with Coach.

Gomez’s Rare Beauty line has positioned her among the elite group of celebrity-led makeup brands, alongside Rihanna and the Kardashians. She is reportedly seeking a $2 billion valuation for the brand by reaching out to investors.

In 2020, Gomez revealed her diagnosis with bipolar disorder and emphasized that any business deal she undertakes must include a charitable or mental health component. She founded the Rare Impact Fund with a goal to raise $100 million to provide access to mental health services.

Apart from her beauty brand, Gomez’s income streams include her Hulu series “Only Murders in the Building,” where she earns $6 million per season, and a smaller share from her music royalties. The show has been renewed for a fifth season, further contributing to her growing fortune.