Selena Gomez Becomes a Billionaire

Selena Gomez has officially become a billionaire at the age of 32, primarily through her ownership of Rare Beauty, a makeup brand known for its vegan and cruelty-free products priced under $30. Despite her fame from music and acting, 80% of her net worth is derived from Rare Beauty, which generated $350 million in revenue last year and is currently valued at approximately $2 billion. This signifies a significant trend where ownership of a successful brand can lead to wealth accumulation, as opposed to relying solely on income from entertainment. Moreover, Gomez's success also reflects the growth of the middle market, where brands priced between luxury and discount options are thriving in today's economy.