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Bloomberg’s Billionaire Index estimated Selena Gomez’s net worth at $1.3 billion in September 2024, according to TIME’s report. The estimate was driven mainly by Rare Beauty, the cosmetics company she founded. It is a dated, valuation-based estimate—not an audited personal balance sheet or evidence that Gomez has $1.3 billion in cash. The sources cited here do not establish a newer independently sourced estimate for 2026.
Why Bloomberg estimated Gomez’s wealth at $1.3 billion
The largest part of the estimate came from Rare Beauty. TIME said roughly 81% of the $1.3 billion estimate was connected to the brand. Fortune, summarizing Bloomberg’s analysis, put Rare Beauty’s contribution at roughly 84%, or about $1.1 billion. Those are differing reported estimates, not a disclosed, audited calculation of Gomez’s ownership or personal assets.
The gap matters because Rare Beauty is private. Its value is not set by a continuously traded public share price, and public reporting has not disclosed a complete ownership breakdown. Bloomberg’s figure is best understood as an estimate that assigns value to Gomez’s stake, rather than a cash total she could necessarily access immediately.
How Rare Beauty became the main driver
Sales figures show the brand’s scale, not Gomez’s income
TIME’s May 2024 profile reported that Rare Beauty had $400 million in sales for the 12 months ending in May 2024, citing company information. The profile also described year-on-year growth of 100% from 2021 to 2022 and 200% the following year. These are company sales and growth figures; they are not profit, the company’s valuation, or money paid to Gomez.
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One product helped make the brand especially visible: TIME reported that Rare Beauty’s $23 Soft Pinch Liquid Blush was its most popular product and generated $70 million in sales during 2023. That product revenue belongs to the company’s sales, not directly to Gomez as personal earnings.
The Rare Impact Fund is a separate commitment
TIME reported in May 2024 that Rare Beauty’s Rare Impact Fund had a $100 million fundraising goal and had raised $13 million by then. TIME’s September 2024 report said the fund had raised more than $16 million. These are dated fundraising totals for the fund, not an addition to Gomez’s net worth.
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What a possible Rare Beauty sale would—and would not—mean
In March 2024, Bloomberg reported that Rare Beauty had hired advisers to assess interest from potential investors or buyers, citing people familiar with private discussions; representatives for the company and Gomez declined to comment. In May, TIME quoted Gomez saying, “I don’t have any plans on that, genuinely.”
Axios reported on September 10, 2024 that the process was on hold and described $2 billion as the target valuation. Its sources said the company was not yet worth that target and that its ownership details were hazy beyond Gomez being the largest shareholder. The $2 billion figure was therefore a reported target, not a completed sale price or a payout to Gomez. These accounts describe developments in 2024, not the company’s current status.
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Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstallOther reported sources of Gomez’s wealth
Reporting on Bloomberg’s analysis also identifies Gomez’s acting and music work, brand partnerships, streaming, concert tickets, properties, and an interest in mental-health media company Wondermind as parts of her broader financial picture. Fortune’s summary said tours accounted for less than 5% of the estimate and album and record sales for less than 2%. Those proportions help explain why Rare Beauty, rather than music alone, dominated the reported total.
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How to read the estimate
- It is tied to September 2024: Bloomberg’s Billionaire Index estimate, as reported by TIME, was $1.3 billion at that time.
- Most of it depends on a private-company valuation: TIME attributed roughly 81% to Rare Beauty; Fortune’s account of Bloomberg put the share at roughly 84%, or $1.1 billion.
- Company revenue is not personal wealth: Rare Beauty’s reported sales do not establish its profit or Gomez’s personal income.
- A target valuation is not a sale: The reported $2 billion figure was a target in sale discussions, not a confirmed transaction.
- No current audited total is established here: Public reports do not provide a full personal balance sheet or complete company ownership records.
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