Selena Gomez reacts to billionaire status: ‘Distasteful to talk about money’
Selena Gomez is making a rare comment about her financial status.
“I’m very grateful,” the 32-year-old?told” Entertainment Tonight”?on Monday about becoming a billionaire due to the success of her Rare Beauty brand. “I?personally?think it’s distasteful to talk about money. But I?really?am giving all the credit to?the people?who buy the products.”
Gomez added, “They’re the ones that made this dream of mine come true. So I’m really, really honored and just happy.”
The “Only Murders in the Building” actress reached billionaire status last month when she was ranked on the Bloomberg Billionaires Index for the first time. Bloomberg reported her current net worth as $1.3 billion and cited her different ventures as an “actress, singer and entrepreneur” for helping her hit the milestone.
Gomez started Rare Beauty four years ago, and the brand now accounts for the “vast bulk of Gomez’s wealth,” according to the outlet.
Along with the singer’s beauty business, Bloomberg credits Gomez’s abilities to branch out into different avenues like producing television — including October’s “Wizards of Waverly Place” reboot — that will continue her lucrative career.
The outlet shared that Gomez has also amassed wealth as the world’s third most-followed person on Instagram. The Disney Channel alum, who has 424 million followers, trails behind soccer star Cristiano Ronaldo, who has garnered 640 million Instagram followers on the platform, and Lionel Messi, who boasts 504 million followers.?
In May, Gomez denied rumors that she was considering selling Rare Beauty once it reached a $2 billion valuation.
“I don’t have any plans on that, genuinely,” the “Emilia Pérez” star told?Time?magazine, adding, “I will admit it overwhelms me sometimes.?I have this weird thing in my head?where if?I focus on the numbers, I’ll lose whatever?it is that?made Rare Beauty Rare Beauty.”
“I never wanted it to be about making a lot of money?and?that’s it,” she noted.
Gomez, who has long been a champion for mental health awareness, determined that 1% of all sales from the line and all funds raised from partners go to the Rare Impact Fund.
The fund aims to “raise $100 million over the next?10?years to help address the gaps in mental health services for underserved communities.”
In the original press release for Rare Beauty in September 2020, Gomez said, “I’m so excited to release beauty products that not only feel great,?but also celebrate what makes each of us rare. These products aren’t about being someone else, it’s about being who you are, whether that’s rocking a full face of bold makeup or barely any makeup at all.”
On Sept. 3, the artist celebrated four years of her beauty brand.
“Today marks 4 years of Rare Beauty,” the makeup brand’s official Instagram account wrote.
“Together we’ve raised $15M+ for the Rare Impact Fund to help support youth mental health globally, touched down in 36 countries (!!! we got to meet so many of you IRL), and have created a safe space where everyone is celebrated for makes them unique.”
The post concluded: “This is all because of YOU. Thank you for your endless support and for believing in our mission. We’re just getting started.”
