Selena Gomez is a billionaire. She joins 4 other musicians in this elite club.
In September 2024, Bloomberg reported Selena Gomez's net worth had crossed $1 billion.
Most of her fortune comes from her makeup brand, Rare Beauty.
There are just four other living musicians who are also billionaires.
Selena Gomez, the actor-musician-producer-makeup-mogul, has been named a billionaire by Bloomberg — the outlet estimates her net worth at $1.3 billion, to be precise.
She joins a small group of musicians who are reportedly worth 10 figures, including her close friend Taylor Swift. Jimmy Buffett, before his death in September 2023, was also part of this club due to his Margaritaville empire.
Here's how these five musicians made their fortunes.
Jay-Z has earned his wealth through a variety of means.
Jay-Z has been chasing mogul status for almost 30 years — he founded Roc-A-Fella Records back in 1995.
Since then, he's started his own sports agency (Roc Nation Sports), bought and sold the music streaming platform Tidal — netting himself $149 million, according to a 2021 Forbes report — owns a stake in the Champagne brand Armand de Brignac and the Cognac brand D'ussé … the list goes on.
All that, plus his extremely popular music, has led Forbes to estimate his net worth at $2.5 billion as of September 2024.
Taylor Swift's Eras Tour was the first tour to gross $1 billion in history.
Bloomberg declared that Swift was a billionaire in October 2023 — though you might never know it from her social media presence. Forbes seconded this claim in April 2024, putting her worth at an estimated $1.1 billion. As of September 2024, Forbes estimated it was around $1.3 billion.
Unlike many of her peers, Swift's wealth solely comes from her — she doesn't have any side hustles. Her money comes from her extremely lucrative Eras Tour, the sheer popularity of her music, merch sales, real estate, and the unprecedented distribution deal she made with AMC for her concert film.
Swift's best friend, Selena Gomez, is also a billionaire, thanks to Rare Beauty.
Gomez has recently stepped away from music. Her last album, "Rare," was released in 2020.
Instead, she's been concentrating on her makeup brand, Rare Beauty, which, by any metric, has been a smashing success. Bloomberg reported in September 2024 that her estimated worth is now $1.3 billion.
The cult-favorite blush alone earned $70 million in 2022.
In addition to her makeup brand, Gomez, a former Disney Channel star, is an actor. Her Hulu series "Only Murders in the Building" was recently renewed for a fifth season; she has lent her voice to the "Hotel Transylvania" animated films; and she is generating some awards buzz for her role in the film "Emilia Pérez."
She also executive produces many of her own projects, including "Only Murders," the upcoming sequel series "Wizards Beyond Waverly Place," and her reality series "Selena + Chef" and "Selena + Restaurant."
Bruce Springsteen made $500 million alone from selling his music catalog to Sony in 2021.
In July, 51 years after the Boss released his first album, "Greetings from Asbury Park," he was named a billionaire by Forbes. As of September, Forbes estimates his net worth to be $1.1 billion.
Variety reported most of Springsteen's wealth comes from the 2021 sale of his music catalog to Sony for a cool $500 million.
In addition to that mega-sale, Springsteen is constantly on the road. The E Street Band seems like it's been on a never-ending tour recently — this tour (called the 2023 Tour) started in February 2023 and will wrap up in July 2025.
Rihanna has made most of her fortune with Fenty Beauty and Savage X Fenty.
Forbes puts Rihanna's estimated net worth at $1.4 billion.
She hasn't released an album since 2016's "Anti," which means that most of her wealth is from her two eponymously named brands: Fenty Beauty, which she co-owns with the French luxury goods conglomerate LVMH, and Savage X Fenty, a lingerie brand.
After its initial launch in 2017, Fenty Beauty has since expanded to encompass Fenty Skin, Fenty Hair, and Fenty Fragrance.
She was also named Puma's creative director in 2014. She released her latest collaboration with the brand in 2023.
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