Selena Gomez Net Worth (Money & Salary)

What Is Selena Gomez’s Net Worth and Salary?

With a net worth of $1 billion, Selena Gomez is an American singer, actress, producer, songwriter, and social media sensation. The following section of this article explains how the majority of her wealth is derived from the tremendous success of her makeup company, Rare Beauty.

Launching her career as a child actress on programs like “Barney & Friends,” Selena Gomez has grown into one of the world’s biggest stars. In contrast to many of her fellow Disney stars, she has managed to maintain a relatively drama-free public image. Unlike Lindsay Lohan, Amanda Bynes, Britney Spears, and Demi Lovato, Ms. Gomez has appeared to handle the pressures of fame, a hectic schedule, a high-profile relationship with Justin Bieber, and a career with Disney exceptionally well.

She began her professional acting journey at the age of seven on “Barney & Friends,” later taking on a recurring role in Seasons 2 and 3 of “Hannah Montana” on the Disney Channel. Her breakthrough came in 2007 when she was cast in a leading role on the acclaimed series “Wizards of Waverly Place.” Following that, Gomez has starred in films such as “Another Cinderella Story,” “Princess Protection Program,” and “Ramona and Beezus.” Currently, she is a highly sought-after actress and brand endorser. In 2021, she landed a role in the Hulu series “Only Murders in the Building” alongside Steve Martin and Martin Short.

In addition to acting, she has established a successful music career with three studio albums released as part of Selena Gomez & The Scene, all achieving Gold status.

Selena Gomez stands as one of the most recognized figures on social media, making her one of the world’s highest-paid endorsers. At present, she boasts over 58 million followers on TikTok and over 420 million followers on Instagram, where she became the first woman to cross the 400 million mark. Her YouTube channel garners more than 33 million subscribers and has amassed nearly 13 billion views.

Beyond her artistic endeavors, when not recording, performing, or working on projects, she serves as a UNICEF Goodwill Ambassador.

Moreover, Gomez is an owner and investor in the ice cream brand Serendipity. In September, she introduced her makeup line, Rare Beauty. Additionally, she co-founded the mental health platform “Wondermind” and has invested in the food delivery service Gopuff.

Rare Beauty & Other Investments

In addition to her entertainment ventures, Selena is a thriving investor and entrepreneur.

In 2020, she became both an investor and co-owner of the ice cream brand Serendipity.

Selena co-founded Wondermind, a mental health startup. In August 2022, this venture raised $5 million at a valuation of $100 million, led by Serena Williams’ venture fund, Serena Ventures, partnered with Lightspeed Venture Partners and Sequoia Capital. Wondermind positions itself as a “mental fitness” brand, offering social media content, web material, a newsletter, a podcast, and more.

The most significant contributor to Selena’s net worth is her role as the founder of Rare Beauty. Launched in September 2020 with an exclusive drop at Sephora, Rare Beauty has become a significant success. The company recorded at least $100 million in revenue in 2022 and reportedly reached an unverified $350 million in 2023. Applying a conservative 4x revenue multiple and assuming the $350 million figure is accurate, Rare Beauty’s valuation today stands at a minimum of $1.4 billion. Early in 2024, it was reported that Selena was contemplating a $2 billion acquisition offer, and it is believed she owns 51% of the brand.

Success for Rare Beauty has been achieved by emphasizing…

Products that are moderately priced, accessible, and user-friendly include items like lip liner, liquid blush, and liquid foundation, with most priced between $5 and $30.

Rare Beauty contributes 1% of all sales to its philanthropic fund, which has successfully raised over $5 million to date, partly thanks to donor events.

Early Life

On July 22, 1992, Selena Marie Gomez was born in Grand Prairie, Texas, to parents Ricardo Joel Gomez and former stage actress Amanda Dawn (Mandy) Cornett. At just sixteen, Selena’s mother gave birth to her. Selena was named in honor of the famous singer Selena Quintanilla-Perez. After her parents’ divorce when Selena was five, she lived with her mother, who faced financial struggles while trying to support them. Gomez completed her high school education through homeschooling in May 2010.

Early Career

Selena’s television career began with “Barney and Friends,” where she portrayed the character Gianna from 2002 to 2004, appearing in 14 episodes alongside fellow actor Demi Lovato. During this time, she also made a cameo in “Spy Kids 3-D: Game Over” (2003) and starred in the TV film “Walker, Texas Ranger: Trial by Fire” in 2005. In 2006, she guest-starred in Disney’s “The Suite Life of Zack & Cody” and later had a recurring role as a pop star in “Hannah Montana” in 2007.

Acting Career

Selena achieved breakout success with the television series “Wizards of Waverly Place,” which ran for 106 episodes from 2007 to 2012 and included two movies. Her salary for “Wizards of Waverly Place” was $30,000 per episode. Additionally, she has been featured in several films and has started her own production company, July Moon Productions.

Music and Other Ventures

At the age of 16, Selena signed with Hollywood Records, the same label that previously signed Miley Cyrus and Demi Lovato. She has released three studio albums, two EPs, and one compilation album. As the lead singer of Selena Gomez and the Scene, she contributed to three studio albums and one remix album. Selena has undertaken two solo tours and toured three times with her band.

In September 2017, Selena announced a two-year endorsement deal worth $30 million with shoe brand Puma, making her the new face of the company alongside Rihanna. Moreover, she serves as an executive producer for the Netflix series “13 Reasons Why” and “Living Undocumented.”

$30 Million Puma Deal

As previously noted, by September 2017, Selena had become the face of the activewear brand Puma. The two-year agreement was valued at $30 million in total. Selena took to Instagram to announce this partnership, sharing a photo of herself donned in Puma attire along with the caption, “Officially a part of the fam @puma #pumapartner.”

In a press release, Gomez expressed her enthusiasm regarding the upcoming partnership with Puma, stating it was “very exciting.” The release further elaborated, “Puma has changed the game when it comes to the mash-up of athletic wear and fashion … It’s amazing to see this influence on style and culture and I’m excited to be a part of it. I am hoping that we can create something special together. We already have some really cool projects in the works.”

Adam Petrick, Global Director for Brand and Marketing at PUMA, shared his thoughts: “Selena is authentic, creative, talented, and fearlessly real. She embodies everything that the modern female consumer seeks in a role model … Recently, she has shown her strength. Her honesty and openness about living with Lupus serve as an incredible example of confidence, poise, and determination for everyone. As a partner for PUMA, she is well-suited because she embraces the challenges our world presents; she fights through and perseveres, which is in line with PUMA’s mission. Not only will she represent our brand, but she’ll also play a key role in defining and enhancing our women’s segment.”

Selena’s initial campaign for Puma will feature the brand’s newest collection for the Phenom, part of Puma’s latest women’s footwear line.

$10 Million Coach Deal

Selena Gomez entered into a $10 million endorsement agreement with the handbag brand Coach in December 2016, at the age of 24. Not only did she take on the role of the brand’s new face, but the deal also offered her the opportunity to design her own line for Coach, which sought to expand its customer base. The brand aimed to attract younger consumers through Selena, then the most followed individual on Instagram, while still appealing to their existing mature audience.

According to Stuart Vevers, the creative director of Coach, the brand is embracing a “new day at Coach.” During an interview with British Vogue, he stated: “Upon my arrival, I utilized our history as a guiding framework, and it was essential for me to uncover elements that would resonate at Coach … I believed it was crucial to be bold, look ahead, and discover what the next generation desires from luxury and fashion.”

Consequently, the 75-year-old brand, which is viewedwith various organizations and initiatives. Over the years, she has supported causes such as mental health awareness, education, and women’s rights. Selena has been a strong advocate for the LGBTQ+ community and has participated in campaigns to promote equality and acceptance. In addition to her charitable work, she has also used her platform to raise funds for disaster relief efforts and has been involved in fundraising activities for various charities.

Recent Initiatives

In 2022, Selena launched the Rare Impact Fund with the goal of expanding access to mental health services for young people. As part of the initiative, she aims to raise $100 million over the next ten years to support mental health programs in schools and communities across the United States. This effort highlights her commitment to making a positive impact and addressing the critical mental health needs of youth today.

Conclusion

Selena Gomez remains a multifaceted individual recognized not only for her artistic contributions but also for her philanthropic efforts. Her ability to connect with a younger audience while maintaining authenticity has allowed her to thrive in both the entertainment and business realms. As she continues to evolve as an artist and advocate, her influence and impact on culture, health, and social issues are likely to grow even more significant.

with UNICEF and presently serves as the organization’s ambassador for the trick-or-treat fundraising initiative. In 2009, Gomez visited Ghana for a week to observe the dire conditions faced by impoverished children deprived of essential resources such as clean water and food. Using her influence through UNICEF, she raised awareness for the situation in Ghana. Additionally, she traveled to Chile to connect with families involved in UNICEF’s Programa Puente, a program aimed at equipping families with the skills necessary for child-rearing.

Gomez acts as an ambassador for Do.Something.org and is also engaged with the charity RAISE Hope for Congo. In 2012, she was appointed as an ambassador for the Ryan Seacrest Foundation. She has gained recognition for her frequent visits to children’s hospitals. Furthermore, Selena served as a spokesperson for State Farm Insurance, featuring in several commercials aired on Disney to promote safe driving awareness.

Health Issues

In 2014, Selena received a diagnosis of Lupus. Later, in September 2017, she underwent a kidney transplant, donated by her friend and fellow actress Francia Raisa, known for her role in “The Secret Life of the American Teenager.” In April 2020, it became public that Selena had also been diagnosed with Bipolar Disorder. Additionally, in November 2022, she disclosed an episode of psychosis she experienced in 2018.

Selena Gomez Net Worth Milestones

Selena was first included in CelebrityNetWorth in December 2009 with a reported net worth of $1 million. At that time, she was just 17 years old and earned $30,000 per episode for her role on “Wizards of Waverly Place,” accumulating over $3 million from the show. By 2011, her net worth rose above $5 million. In April 2013, after releasing her debut solo album, she exceeded a net worth of $10 million. By 2015, her net worth reached $18 million, significantly fueled by her popularity on Instagram. With numerous endorsements such as Puma and Coach, along with her album sales and acting, her net worth climbed past $60 million by mid-2018. In 2019, Selena Gomez’s net worth stood at $75 million. As of July 2023, her net worth was estimated at $800 million, primarily due to her brand Rare Beauty. By September 2024, she officially achieved billionaire status.

Real Estate

Over the years, Selena has owned several properties.

In July 2011, she purchased a home in Tarzana, California, for $2.175 million. This single-story house spans 4,500 square feet and is set on an acre of land, previously belonging to rising star Jonah Hill. It features five bedrooms, five bathrooms, a large eat-in kitchen, office space, high ceilings, abundant natural light, and stunning hardwood floors. The backyard includes a spa, pool, tennis court, and bocce ball court. She listed this property for sale in May 2014 at $3.495 million and ultimately sold it for $3.45 million in October 2014.

In 2014, she acquired a substantial house in a gated community in Calabasas for $3.69 million, situated on 3.15 acres. At one point, she attempted to sell this property for $4.495 million, but eventually took a minor loss, selling to rapper French Montana, who listed the home in February 2020.for $6.6 million. Below is a video tour of that property:

In 2015, an unspecified amount was spent by her to acquire a large residence in Fort Worth, Texas. That house was listed for $3.499 million in both 2016 and 2017, and again in 2018 for $2.999 million. Ultimately, the property sold in October 2020 for $2.4 million.

In 2017, she made a purchase of a relatively modest (considering her wealth) home in Studio City, California, for $2.249 million. A year later, it was listed for sale at $2.799 million and eventually sold for $2.3 million.

In April 2020, Selena invested $4.9 million in an 11,500-square-foot residence located in Encino, California. This home was custom-built by Tom Petty in the late 1980s and was given to his ex-wife during their divorce in 1996. In 2015, his ex-wife lost the property to foreclosure. Selena bought it from a non-celebrity who had owned it for less than a year, making a profit of $400,000 in the process.