When actress and singer Selena Gomez first pivoted to entrepreneurship, she had to fight to be taken seriously at first. \u201cI think a lot of people would have preconceived ideas of what I\u2019m good at, and I should stay in my lane, and I should do what I\u2019m here to do,\u201d Gomez said at\u00a0the Fortune Most Powerful Women Summit in Washington, D.C., on Wednesday. \u201cBut what I\u2019m here to do is make a difference.\u201d<\/p>\n
Now, Gomez is still trying to make a difference while building a big business. In 2020, she founded beauty brand Rare Beauty,\u00a0a favorite among Gen Z<\/a>.\u00a0Rare Beauty<\/a>\u2019s booming valuation, estimated at $2.7 billion as of mid-2025, has made Gomez, 33, one of the youngest\u00a0self-made billionaires<\/a>\u00a0in the world, with a large share of her net worth coming from her stake in the beauty company.<\/p>\n Gomez also launched the Rare Impact Fund as part of Rare Beauty, with a goal to raise $100 million for youth mental health services and education globally. She donates 1% of sales to the foundation, which focuses on suicide prevention and crisis response, education, and communities of support. The foundation currently supports 30 nonprofit partners around the globe, said Elyse Cohen, chief impact officer of Rare Beauty.<\/p>\n Cohen said Rare Beauty\u2019s choice to donate 1% of sales was \u201ca risk,\u201d but worth it.<\/p>\n \u201cWe took risks from day one, and it\u2019s part of how we created the lane that we created in the beauty industry,\u201d Cohen said.<\/p>\n