Selena Gomez would rather not talk about being a billionaire
Theo Wargo/Getty Images for FLC
- Selena Gomez's net worth crossed $1 billion in September, according to Bloomberg's estimates.
- Most of her fortune comes from her beauty brand, Rare Beauty.
- She's "grateful" but finds it "distasteful" to talk about money, Gomez told Entertainment Tonight.
Selena Gomez, 32, may be a billionaire, but she would rather not talk about it.
During an interview with Entertainment Tonight's Rachel Smith at the New York Film Festival, Gomez opened up about her big achievement: reaching billionaire status.
"I'm very grateful. I personally think it's distasteful to talk about money, but I really am giving all the credit to the people who buy the products," Gomez told Smith. "They're the ones that made this dream of mine come true, so I'm really, really honored and just happy."
In September, Bloomberg reported that Gomez' net worth had crossed the $1 billion mark, with most of her fortune coming from her makeup brand, Rare Beauty. The brand's $23 blush product alone is said to have brought in $70 million in revenue in 2022.
In May, Gomez told Time that she relies on her manager, lawyers, and company executives to help run the brand. She noted that she focuses mainly on product development and the Rare Impact Fund, the company's philanthropic arm.
"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 told Time. "I never wanted it to be about making a lot of money and that's it."
Apart from Gomez, there are just four other living musicians who are also billionaires: Jay-Z, Taylor Swift, Bruce Springsteen, and Rihanna — who also owns a beauty brand, Fenty Beauty.
In a 2023 survey of 2,000 Americans by financial planning company Empower, 62% of respondents said they don't talk about money.
But unlike Gomez, it looks like her fellow millennials seem to be talking about money more than previous generations: 56% of millennials and 49% of Gen Zers say they are less guarded when it comes to money talk, compared to 38% of Gen Xers and 22% of baby boomers.
A representative for Gomez did not immediately respond to a request for comment sent by Business Insider outside regular hours.