Los Angeles, California - Selena Gomez has officially joined the ranks of the billionaires – due in large part to her bestselling beauty brand, Rare Beauty.

As reported by Bloomberg on Friday, the 32-year-old is now estimated to have a net worth of about $1.3 billion.

Though Selena's star power has been garnered through her acting and singing careers, it's her cosmetics empire that has contributed the most to her wealth.

Rare Beauty – founded by the former Disney Channel star in 2019 – is reportedly valued at over $2 billion.

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While Selena's connection certainly boosted the brand's notoriety, its acclaimed products have come to speak for themselves, with its Soft Pinch Liquid Blush going especially viral across social media in the past few years.

Still, her other ventures are nothing to sneeze at, as Bloomberg reported that she has earned about $5 million a season for her Emmy-nominated role as Mabel in Hulu's Only Murders in the Building.

Selena has also made dedicated efforts to put her wealth to good use, as the star donates 1% of all Rare Beauty sales to the Rare Beauty Impact Fund, which promotes the accessibility of mental health resources.

The Single Soon artist is not the first A-lister to achieve billionaire status through a beauty empire, as singer Rihanna has also earned the honor thanks to Fenty Beauty.