Selena Gomez recently received some delightful news, only for it to be abruptly flagged as inaccurate.
The former child actress turned singer and businesswoman was honored by a report from Bloomberg that revealed that she had hit billionaire status.
Miss Gomez achieved that incredible feat thanks to her musical and acting careers, as well as other ventures, including producing and serving as an ambassador for many highly renowned brands.
However, Selena Gomez’s most significant source of income is her company, Rare Beauty, which generated $367 million in revenue in 2023. Countless reputable media outlets have reported that Gomez now has a net worth of $1 billion.
But Forbes is now saying not so fast. The financial bible provided a breakdown of Gomez’s fortune, and it appears that she still has some work to do to reach the billion-dollar mark.
Forbes explained why Selena Gomez is very wealthy but not a billionaire yet: “Based on Forbes reporting, Gomez is very wealthy, but estimated to be worth roughly $700 million. This figure still ranks the former Disney Star among the wealthiest self-made women entrepreneurs in the country — and one of the richest celebrities — but the breakdown of her fortune helps explain why she may be somewhat limited in how much money she can or is willing to sink into Wondermind.”
Kylie Jenner knows precisely how it feels to be in Selena Gomez’s shoes, and she has no sympathy or empathy.
In 2019, Forbes incorrectly labeled Kylie Jenner as a billionaire, primarily due to the massive success of her company, Kylie Cosmetics.
Miss Jenner was dubbed the world’s youngest self-made billionaire at the age of 21. However, in 2020, Forbes made a complete reversal and revoked her status, citing financial data released by Coty Inc., the company that purchased a 51% stake in Kylie Cosmetics.
Via Yahoo, an insider told Star that Jenner was hurt and embarrassed by Forbes‘ decision to annul the honor.
The source claimed that Jenner was further pained by the critics who dragged her down.
The insider stated: “It was humiliating. She felt like people couldn’t wait to tear her down.”
Jenner feels some way about seeing Gomez, who has the reputation of being a goody-two-shoes, being removed from her pedestal.
Hitting at some unknown rivalry between Jenner and Gomez, the person in the know stated: “Kylie always felt Selena got a free pass because the narrative is that she’s sweet and nice, while Kylie had to deal with people calling her a fake. So it’s vindicating to see Selena being taken down a notch!”
Hailey Bieber, who became a billionaire this month after selling her beauty brand Rhodes, has decided to sit this one out.
She has no comments or feelings about being the subject of the story due to their complex history involving Justin Bieber. Any move she makes will be misconstrued.
