To live in the world of the famous allows you to create your own fragrance. For Lady Gaga and her debut fragrance 'Fame,' it's also worth a billion! That's the expected financial windfall in profits that are expected for the lady.

Gaga first  introduced her new fragrance Thursday night at an event at the Guggenheim.

Britney Spears earned $1.5 billion with her multi-fragrance portfolio over the years, and Lady Gaga is expected to far surpass those numbers.

Check out the picture of the boots that Gaga wore to the fragrance fete.

Watch the Lady Gaga Fame Fragrance Film