Selena Gomez is a newly minted billionaire, having amassed a fortune through various business ventures, TV shows, and brand sponsorships. A significant portion of her wealth comes from her successful cosmetics line, Rare Beauty. Gomez recently made headlines by appearing on Bloomberg's Billionaire Index with a net worth of $1.3 billion. Gomez first gained public attention as a child actor in the 90s on 'Barney & Friends.' Her transition from acting to business has been remarkably successful.

In addition to her earnings from TV shows and movies, Gomez has invested in several other revenue streams, including music, social media collaborations, and brand endorsements. Each of these ventures has contributed to her impressive financial growth over the years. One of the key drivers of Gomez's fortune is Rare Beauty, a cosmetics brand that has not only gained massive popularity but also set new standards in the beauty industry. Gomez’s business acumen extends beyond this, as she strategically endorses brands and products that align with her values and public image, ensuring consistent income from various sponsorships.

As for how she spends her money, Gomez is known for her philanthropic efforts. She generously donates to various causes, including mental health awareness, education, and social justice initiatives. Besides her charitable work, Gomez enjoys a luxurious lifestyle, investing in real estate, high-end fashion, and traveling. Her expenditures reflect a balanced approach to wealth, combining personal enjoyment with meaningful contributions to society.

Selena Gomez’s journey from a child actor to a billionaire entrepreneur is inspiring. Her diverse income sources and thoughtful spending habits illustrate a well-rounded approach to building and managing wealth. For those interested in following her story and gaining insights into the latest in markets, tech, and business, subscribing to exclusive platforms like Business Insider can provide valuable information.