Selena Gomez becomes a billionaire, the wealth figure is revealed

Singer and actress Selena Gomez is now officially a billionaire. The 32-year-old actress, singer, investor and entrepreneur has thus become one of the youngest billionaires in the United States, according to Bloomberg, which estimates her net worth at $ 1.3 billion .

Some of the fortune for the "Only Murders in the Building" star comes from singing, brand partnerships and acting, but "the bulk" of her wealth is tied to Rare Beauty, her 5-year-old makeup line which is a hit with influencers and teenagers, the publication revealed on Friday.

Gomez's fortune is based on Bloomberg 's "estimated value" of her stake in the beauty brand, plus her interest in mental health platform Wondermind and other miscellaneous earnings from her music, acting, properties and more. Her popularity on Instagram makes her the third most followed person, after soccer icons Cristiano Ronaldo (638 million) and Lionel Messi (504 million).

Other income streams for the star include income from her Hulu show which was just renewed for a fifth season where she earns $6 million per season, according to Bloomberg.

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