Get All Access for $5/mo

Selena Gomez Says She Isn't Selling Her $2 Billion Beauty Company Gomez said in a new interview that she will be working on products for Rare "for the next few years."

By Sherin Shibu Edited by Melissa Malamut

Key Takeaways

  • Selena Gomez recently shut down rumors that she was thinking about selling her makeup brand, Rare Beauty, or possibly taking it public.
  • Rare Beauty is reportedly worth $2 billion.

Actor, singer, and entrepreneur Selena Gomez isn't selling her multi-billion dollar beauty brand any time soon.

Gomez clarified in an interview this week that she was not thinking about selling her beauty brand, Rare Beauty, or taking it public. The company is reportedly worth $2 billion.

"I don't have any plans on that, genuinely," Gomez told TIME.

Gomez mainly focuses on Rare Beauty's product development and philanthropy, overseeing the Rare Impact Fund, which has raised $13 million since Gomez founded the company in 2020.

She told TIME that she will be working on products for Rare "for the next few years" and that she never wanted the company "to be about making a lot of money and that's it."

Selena Gomez. Photo by Samir Hussein/WireImage

Gomez's remarks refute a March report that Rare Beauty was in private talks about a possible sale or IPO.

Related: Is Selena Gomez the Next Beauty Billionaire?

Rare is popular on social media and sells an array of $30 and under makeup, body care, and brushes.

A $23 liquid blush from the company went viral on TikTok in 2022 and brought in $70 million in revenue that year. The company's bestsellers include tinted lip oil and matte lipstick, per a ranking on its site.

Rare reportedly hit more than $400 million in net sales from February 2023 to February 2024.

Sherin Shibu

Entrepreneur Staff

News Reporter

Sherin Shibu is a business news reporter at Entrepreneur.com. She previously worked for PCMag, Business Insider, The Messenger, and ZDNET as a reporter and copyeditor. Her areas of coverage encompass tech, business, strategy, finance, and even space. She is a Columbia University graduate.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Side Hustle He Started in His College Apartment Turned Into a $70,000-a-Month Income Stream — Then Earned Nearly $2 Million Last Year

Kyle Morrand and his college roommates loved playing retro video games — and the pastime would help launch his career.

Growing a Business

How Visionary Leaders Transform Curiosity Into Groundbreaking Ideas

Lee Brian Schrager, founder of the South Beach Wine & Food Festival, discusses the spark that launched FoodieCon, his best practices for running popular food events, and why all business owners need to adapt to social media trends.

Business News

Homeowners in These 10 States Pay the Most in 'Hidden' Upkeep Costs

Hidden home costs pile on top of mortgage payments.

Data & Recovery

Get $60 off This Portable VPN Travel Router

Why keep paying for a VPN service when you can have a tiny, lightweight piece of hardware that can provide you with a lifetime of maximum VPN protection?

Money & Finance

Avoid These 10 Mistakes Entrepreneurs Make with Money

Despite the challenging statistic that only 5% of startups survive beyond five years, common financial pitfalls often contribute to their failure. Through personal observation, I've identified the prevalent financial mistakes made by entrepreneurs.

Growing a Business

5 Books to Help You Motivate, Unify and Build Perspective

In a post-Covid world, check out these must-read books to help build a more resilient organization, create a modern work culture and maintain a powerful growth mindset.