Selena Gomez Became a Billionaire After The $2 Billion Success of Rare Beauty
Selena Gomez’s Billionaire Status
Selena Gomez was recently tipped by Bloomberg to be a billionaire thanks to her cosmetics company, Rare Beauty, which is valued at $2 billion. However, the company has not yet reached that valuation, and the process of finding a buyer at that price has been put on hold.
Challenges in Selling Celebrity Brands
The sales process focuses more on strategic buyers than private equity. This trend shows that buyers are becoming more cautious about spending large sums on celebrity-driven brands or companies with only one core product. There are concerns that the sale could reduce celebrity involvement, possibly affecting the brand’s future success.
Success and Future of Rare Beauty
Rare Beauty is still a successful business, with an estimated annual revenue of over $350 million. Selena Gomez is the largest shareholder, although the exact ownership structure is unclear. The sale process could resume in 2025, but other options, such as an IPO or reverse merger, could be easier routes to reach that $2 billion valuation.
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Selena Gomez’s Low-Key Stroll Through Central Park
You wouldn’t expect one of Instagram’s most-followed women to get the attention of New York’s Central Park. But here she is, Selena Gomez, in cozy boots and holding a travel mug of tea, almost blending in with the crowd. If it weren’t for the nearby security guard and assistant, she might have been just another person enjoying a drizzly May morning.
A Star with a Humble Outlook
Despite her fame, Selena has always abandoned the idea of ​​being charismatic. Dressed casually, she jokes, “I don’t have anything really impressive going on all the time or any of the time.” An astonishing statement from someone who has been in the spotlight since she was 10 years old and now runs a $2 billion business. Although, we walk along, most of the passers-by do not notice it.
Creating a Brand That Resonates
Selena has become a relatable figure, known for her vulnerability and openness about mental health. This authenticity is at the core of her brand, Rare Beauty, which she started with a mission to make people feel good about themselves rather than chasing unattainable beauty standards. With products available in 36 countries and sales growing rapidly since the start of 2020, Rare Beauty’s success is undeniable.
Combining Mental Health and Beauty
Rare beauty isn’t just about makeup; It’s about supporting mental health. Selena launched the Rare Impact Fund with the goal of raising $100 million over 10 years, pledging to donate 1% of all sales to the cause. So far, $13 million has been raised, funding 26 organizations across five continents.
Navigating Fame and Mental Health
Gomez has faced intense public scrutiny, from her early Disney days to her health battles with lupus and bipolar disorder. Her 2022 documentary, My Mind and Me, offers an intimate look at her mental health journey. Despite her global fame, she is cautious about the impact of social media on her well-being and prefers to spend time with down-to-earth friends who don’t care about her celebrity status.
