Selena Gomez became a billionaire at age 32

Now, Selena Gomez can add becoming a billionaire to her impressive resume.

According to Bloomberg, which pegs the actress, singer, businesswoman, and investor at 32 years old at $1.3 billion, she recently hit the financial milestone, making her one of the country's youngest self-made billionaires.

The magazine claimed that while though the Lose You to Love Me hitmaker is most recognized for her work as an actor and singer, the majority of her money originates from her 2020 beauty line, Rare Beauty.

Rare, launched in 2020, became an instant success, with its popular blush product reportedly generating $70 million in revenue in 2022 alone.

With over 424 million followers, she is the third most followed person on Instagram and can earn an estimated $2.6 million for each sponsored feed post on the platform.

Her endorsement campaigns for "Puma, worth a reported $30 million, and Coach, a $10 million deal," are among of her most lucrative deals.

However, her fan base has also aided her Rare Beauty line, placing her in the celebrity-led makeup business space that is dominated by the Kardashians and Rihanna. According to reports, Gomez has also approached investors about Rare Beauty, looking for a $2 billion valuation.

A partnership involving Gomez "has to have an element that's charitable or in the mental health space," she stated in an interview with Entrepreneur after disclosing her bipolar disorder diagnosis in 2020. In order to help people obtain access to mental health services, she established the Rare Impact Fund with the goal of raising $100 million.

She has also amassed a fortune from brand collaborations, her music, and her roles on TV shows like Only Murders in the Building, which was recently renewed for a fifth season.

Gomez has put out three studio albums, two EPs, seven singles, four promotional singles, and fourteen music videos during her solo career, despite the fact that she has recently leaned more toward acting.

The former child star also receives money from her Hulu series "Only Murders in the Building," which was just extended for a fifth season and brings her $6 million annually, as reported by Bloomberg, as well as a smaller portion from her song royalties.