Gomez’s rise to fame began as a Disney Channel star, but her wealth stems mainly from her business ventures, particularly her cosmetics brand, Rare Beauty. Launched in 2020, Rare Beauty has become a significant player in the competitive celebrity beauty market, with its most popular product, a $23 liquid blush, generating $70 million in sales in 2023.

Gomez attributes much of Rare Beauty’s success to its focus on inclusivity and mental health awareness.

The brand donates 1% of its sales to the Rare Impact Fund, which has raised over $16 million to support mental health initiatives.

While music and acting contribute to Gomez’s wealth, they account for a relatively small portion. Music tours contribute less than 5%, and album and record sales less than 2%.

Her role in the hit comedy-drama “Only Murders in the Building” reportedly earns her at least $6 million per season.

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Gomez’s social media presence also plays a role in her wealth. With 424 million followers on Instagram, she is one of the most-followed individuals on the platform.

Despite her billionaire status, Gomez emphasizes that her focus is not on financial gain. “I never wanted it to be about making a lot of money and that’s it,” she said in a recent interview with TIME. “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.”

Gomez’s journey to billionaire status is a testament to her entrepreneurial spirit and commitment to social impact.