Bloomberg reported on September 6, 2024, that Selena Gomez had reached billionaire status, estimating her fortune at about $1.3 billion. That was a media estimate—not an audited disclosure or a verified measure of her net worth today. The estimate attributed most of her wealth to her stake in Rare Beauty, alongside reported income and assets from other ventures.
What did Bloomberg mean by “billionaire status”?
Bloomberg added Gomez to its billionaire index on September 6, 2024, with an estimated fortune of about $1.3 billion. The figure describes Bloomberg’s estimate at that time; Gomez has not publicly disclosed an audited personal balance sheet establishing that amount. Bloomberg’s billionaire index is the original context for the claim.
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A net-worth estimate is not the same as cash in a bank account. It may include the estimated value of private business ownership and other assets, less liabilities. Private-company stakes are especially difficult to value from outside because ownership terms, financial statements, and transaction prices are not always public.
How much of the estimate was tied to Rare Beauty?
Rare Beauty was the central business behind the estimate. TIME’s 2024 account of Bloomberg’s calculation said roughly 81% of the estimated fortune was associated with the cosmetics brand. That percentage is a reported allocation of an estimate, not a public disclosure of Gomez’s ownership percentage or a confirmed sale value. TIME’s account of the estimate provides the breakdown.
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The scale of Rare Beauty helps explain why it mattered. In a May 2024 profile, TIME reported $400 million in sales for the 12 months ending May 2024, and said the company was available in 36 countries, citing the company. Those figures describe the period covered by that profile, not current sales or distribution. TIME’s May 2024 profile also reported annual sales growth of 100% from 2021 to 2022 and 200% the following year.
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TIME reported that Rare Beauty’s popular liquid blush generated $70 million in sales in 2023. The profile listed its price as $23 at the time; that is a historical price, not a current quote. The product illustrates the brand’s commercial reach, but one product’s sales do not establish Gomez’s personal income or ownership share. TIME’s profile contains the product figures.
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The brand’s stated mental-health mission
TIME reported that Rare Beauty launched in 2020 with a mental-health focus and the Rare Impact Fund. At the time of the 2024 profile, the fund’s stated goal was to raise $100 million over the brand’s first ten years, and the company pledged 1% of product sales to it. Those are the goal and contribution terms reported then; they do not establish how much the fund has since raised or whether terms have changed.
In that profile, Gomez said, “I never wanted it to be about making a lot of money and that’s it.” She described her priorities around product development and the Rare Impact Fund. She also said, “I hope I don’t, and I hope Rare Beauty doesn’t, give off the vibe that you have to do anything.”
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What other ventures were included?
Rare Beauty was not the only reported contributor. TIME’s account said music tours represented less than 5% of the estimated fortune and album and record sales less than 2%. The calculation also took account of acting, streaming deals, brand partnerships, concert tickets, and properties. Those are components described in coverage of Bloomberg’s estimate, not a published itemized accounting of Gomez’s holdings or earnings.
A Bloomberg-syndicated report also listed Gomez’s interest in Wondermind, a mental-health venture she co-founded with her mother, Mandy Teefey, and Daniella Pierson. The report described its mental-health tools, interviews, and newsletter, and named Lightspeed Venture Partners, Sequoia Capital, and Serena Ventures among its investors. Its valuation reported in 2022 is historical and should not be read as its current value or as Gomez’s personal wealth. The Bloomberg-syndicated Moneycontrol report discusses Wondermind and other reported sources.
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Does the March 2024 $2 billion figure mean Rare Beauty was sold?
No. A March 2024 Bloomberg report described advisers assessing interest in investing in or acquiring Rare Beauty. It reported private discussions; it did not establish that a sale occurred or confirm a $2 billion completed valuation. That figure belongs to the context of contemplated interest in the company, not Gomez’s personal net worth. Bloomberg’s March 2024 report covers those discussions.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Is Selena Gomez really a billionaire?
The careful answer is that Bloomberg estimated her fortune at about $1.3 billion in 2024 and attributed most of it to Rare Beauty. The estimate is not independently established by a public audited disclosure, and the reporting cited here does not support stating an exact current net worth for October 2026. The brand’s reported sales, the value of a private-company stake, and an individual’s net worth are related but distinct measures.
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