Selena Gomez has hit a remarkable milestone in her life as reports claim she has hit billionaire status.
Gomez, 32, has unquestionably had an incredible career up to this point, as she rose to fame on Barney and the Disney Channel.
She continued to forge her career on the set of Wizards of Waverly Place and she's gone from strength to strength since.
She's released albums and singles which have boosted her fame, as well as starring in hit shows such as Only Murders In The Building.
Gomez is the third most followed person on Instagram with a staggering 424 million followers, only coming behind soccer stars Cristiano Ronaldo and Lionel Messi who have 638 million and 504 million respectively.
Well, Gomez has hit another remarkable milestone as Bloomberg reports indicate that she is now a billionaire.
According to Bloomberg, the 32-year-old actress and singer's fortune is now valued at $1.3 billion.
Bloomberg attributes the majority of Gomez’s wealth to her successful makeup brand, Rare Beauty, which she founded five years ago.
The publication estimates her stake in the company is worth over $1 billion.
Rare Beauty, known for its viral products like liquid blush and lip tint, reportedly generated $400 million in net sales in the 12 months leading up to February 2024.
Her success with Rare Beauty has placed Gomez among the youngest self-made women billionaires, alongside stars like Taylor Swift and Rihanna.
In addition to her beauty empire, Gomez has earned tens of millions from lucrative endorsement deals with brands such as Louis Vuitton, Coach, and Puma.
According to Bloomberg, her Emmy-nominated role in Hulu's hit series Only Murders in the Building brings in "at least" $6 million per season.
Despite her on-screen achievements and a music career that has seen her nominated for multiple Emmy and Grammy Awards, Bloomberg notes that these account for only a small portion of her overall wealth.
Gomez also champions body positivity, as earlier this year she bravely opened up in a comparison post stating that she came to terms with the fact that "[she] will never look like this again" while sharing a bikini photo of herself from 2013.
She accompanied the post with another image and a powerful message about self-acceptance and body positivity.
"I’m not perfect, but I am proud to be who I am... Sometimes I forget it’s ok to be me," she wrote in the follow-up.
"I just want to encourage anyone out there who feels any sort of shame for exactly what they’re going through and nobody knows the real story."