Selena Gomez Net Worth (Money & Salary)

What Is Selena Gomez’s Net Worth and Salary?

With a net worth of $1 billion, Selena Gomez stands out as an American singer, actress, producer, songwriter, and social media sensation. The majority of her wealth is primarily attributed to her immensely successful makeup line, Rare Beauty, as outlined in the following section of this article.

Starting her career as a child actress on shows like “Barney & Friends,” Selena Gomez has evolved into one of the globe’s biggest stars. In contrast to several of her Disney contemporaries, Ms. Gomez has largely succeeded in keeping her life drama-free. Unlike Lindsay Lohan, Amanda Bynes, Britney Spears, and Demi Lovato, Selena has handled fame, a hectic schedule, her high-profile relationship with Justin Bieber, and her association with Disney with remarkable composure.

At the age of seven, she began her professional acting career on “Barney & Friends,” eventually taking on a recurring role on Seasons 2 and 3 of “Hannah Montana” for the Disney Channel. Her major breakthrough came in 2007 when she was cast as one of the leads in the popular series “Wizards of Waverly Place.” Following that, she appeared in films like “Another Cinderella Story,” “Princess Protection Program,” and “Ramona and Beezus.” Today, Selena is a highly sought-after actress and brand ambassador. In 2021, she starred in the Hulu series “Only Murders in the Building,” sharing the screen with Steve Martin and Martin Short.

In addition to her acting accolades, she has made a name for herself in music, releasing three studio albums as part of Selena Gomez & The Scene, all of which have achieved Gold status.

As one of the most prominent figures on social media, Selena Gomez ranks among the highest-paid endorsers globally. As of this writing, she boasts over 58 million followers on TikTok and more than 420 million followers on Instagram, making her the first woman to reach the 400 million milestone on the platform. Her YouTube channel has accumulated over 33 million subscribers with nearly 13 billion views.

In addition to her artistic pursuits, she dedicates time as a UNICEF Goodwill Ambassador when not recording, performing, or shooting a project.

Selena also became an investor and co-owner of the ice cream brand Serendipity. In September, she made headlines with the launch of her makeup line Rare Beauty. Moreover, she co-founded the mental health platform Wondermind and invests in the food delivery service Gopuff.

Rare Beauty & Other Investments

Beyond her endeavors in acting and music, Selena Gomez excels as an entrepreneur and investor.

In 2020, she took on the role of investor and co-owner of the ice cream brand Serendipity.

Selena co-founded Wondermind, a mental health startup. In August 2022, the company successfully raised $5 million, achieving a valuation of $100 million, with backing from Serena Ventures and other partners. Wondermind, which sees itself as a “mental fitness” organization, focuses on producing social media content, newsletters, podcasts, and more.

Most notably, to significantly enhance her net worth, she is the founder of Rare Beauty. Launched in September 2020 with an exclusive debut at Sephora, Rare Beauty has experienced tremendous success. In 2022, the company generated at least $100 million in revenue, with an unverified $350 million in projections for 2023. Applying a conservative revenue multiple of 4x, if the $350 million figure holds true, Rare Beauty’s estimated valuation stands at a minimum of $1.4 billion today. By early 2024, reports indicated that Selena was contemplating a $2 billion acquisition offer, and it’s reported she holds 51% ownership of the brand.

Rare Beauty has achieved remarkable success through its focused approach…

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

Rare Beauty contributes 1% of its total sales to its philanthropic fund, which has already generated over $5 million to date, thanks in part to donor events.

Early Life

Selena Gomez, born Selena Marie Gomez on July 22, 1992, in Grand Prairie, Texas, is the daughter of Ricardo Joel Gomez and former stage actress Amanda Dawn (Mandy) Cornett. At the time of Selena’s birth, her mother was just sixteen years old. Named after the famous singer Selena Quintanilla-Perez, Gomez experienced her parents’ divorce at five years old and subsequently lived with her mother, who faced financial difficulties while raising them. Selena completed her high school education through homeschooling, receiving her diploma in May 2010.

Early Career

Selena’s early television career included a role on “Barney and Friends” from 2002 to 2004, where she portrayed Gianna for a total of 14 episodes. During her time on “Barney,” she worked alongside fellow actor Demi Lovato. Around the same period, she made a cameo appearance in the 2003 film “Spy Kids 3-D: Game Over” and participated in the made-for-TV movie “Walker, Texas Ranger: Trial by Fire” in 2005. In 2006, she guest-starred on Disney’s “The Suite Life of Zack & Cody” and landed a recurring role as a pop star in the popular series “Hannah Montana” in 2007.

Acting Career

Her rise to fame came with the lead role in the series “Wizards of Waverly Place,” which aired 106 episodes from 2007 to 2012, including two movies. Selena earned $30,000 per episode for her performance on “Wizards of Waverly Place.” Additionally, she has featured in various films and established her own production company, July Moon Productions.

Music and Other Ventures

At the age of 16, Selena Gomez signed with Hollywood Records, the same label that had 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, undertaking two solo tours and three tours with her band.

In September 2017, it was announced that Selena secured a two-year, $30 million endorsement deal with the footwear brand Puma, making her the face of the brand alongside Rihanna. Additionally, she serves as an executive producer for the Netflix series “13 Reasons Why” and “Living Undocumented.”

$30 Million Puma Deal

Previously mentioned, by September 2017, Selena became the face of Puma, an activewear company, through a two-year contract worth $30 million. She made the announcement on Instagram, sharing a picture of herself in Puma apparel along with the caption, “Officially a part of the fam @puma #pumapartner.”

In a press release, Gomez expressed her enthusiasm regarding her collaboration with Puma, stating it was “very exciting.” The statement further noted, “Puma has changed the game when it comes to the mash-up of athletic wear and fashion… It’s incredible to witness this influence on style and culture, and I’m eager to contribute to it. I am hopeful we can create something special together, as we already have some fantastic projects lined up.”

Adam Petrick, PUMA’s Global Director for Brand and Marketing, remarked, “Selena embodies authenticity, creativity, talent, and a fearless spirit. She represents exactly what today’s female consumer seeks in a role model. Recently, she has showcased her tremendous strength by openly discussing her experience with Lupus, presenting a remarkable example of confidence, grace, and resilience for us all. Selena is an ideal partner for PUMA as she embraces the challenges our world presents; she perseveres and fights, which aligns perfectly with PUMA’s ethos. She will not only embody our brand but also play a role in defining and expanding our women’s market.”

Puma’s latest campaign for the Phenom, one of their new women’s footwear collections, will mark Gomez’s debut for the brand.

$10 Million Coach Deal

Selena Gomez entered into a $10 million endorsement agreement with Coach, a bag manufacturer, in December 2016 when she was just 24 years old. She became the face of the brand, which allowed her the freedom to design her own line. Coach aimed to attract a younger demographic while remaining connected to their existing mature customer base, leveraging Selena’s notoriety as the most followed individual on Instagram at that time.

Stuart Vevers, Coach’s creative director, mentioned the brand was embracing a “new day at Coach.” He shared in an interview with British Vogue, “When I first came on board, I used our heritage as a foundation, and it was essential for me to uncover elements that would resonate with Coach… I deemed it vital to be audacious, looking ahead to discover what the next generation expects from luxury and fashion.”

As a consequence, the brand that has been in existence for 75 years is now focused on…
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Recognized by some as a “heritage” brand for older demographics, Coach has been making significant efforts to connect with a younger audience. During Coach’s recent 75th anniversary celebration, several young stars such as Michael B. Jordan, Diplo, and Zoë Kravitz made appearances. The brand aims to leverage this young star appeal to attract a new generation of Coach customers. Signing Gomez is an additional step towards achieving this goal.

Earnings from Instagram

Selena was, for many years, the most-followed individual on Instagram, boasting over 420 million followers today.

It’s estimated that each Instagram post from Selena can be valued at $3.5 million for the brand sponsoring it. Her earnings per sponsored post have ranged from $500,000 to $800,000. Through her various ventures, particularly those with Coach, Puma, and Instagram, Selena earns between $10-15 million annually. Although this is quite an impressive figure, it is not sufficient to place her among the 100 highest-paid celebrities globally. Perhaps Ms. Gomez prefers to maintain a lower profile.

Personal Life

Selena briefly dated Nick Jonas in 2008. She’s also known for her tumultuous on-again, off-again relationship with pop star Justin Bieber. Reports suggest that their connection was stressful enough for Selena to require time in rehabilitation. They had a serious relationship lasting from December 2010 to November 2012, after which they broke up and reunited multiple times, cycling through this pattern in 2013, 2014, 2015, and 2017. It’s believed they separated for good in March 2018. From January 2017 to October 2017, Gomez was in a relationship with The Weeknd, whose album “My Dear Melancholy,” released in March 2018, alludes to Gomez.

Selena has referred to Taylor Swift as her “only” friend within the entertainment industry.

In December 2023, Selena disclosed that she is dating producer Benny Blanco.

Philanthropy

Selena is an active philanthropist, dedicating many hours to various causes. She collaborates closelywith UNICEF, currently serving as the organization’s ambassador for the trick-or-treat fundraising initiative. In 2009, Gomez spent a week in Ghana to observe the dire living conditions faced by underprivileged children lacking essential resources such as clean water and food. Through her association with UNICEF, she utilized her celebrity status to raise awareness about the situation in Ghana. Additionally, she journeyed to Chile to interact with families benefiting from UNICEF’s Programa Puente, which aims to equip parents with the necessary skills for child-rearing.

Gomez holds the role of ambassador for Do.Something.org and is actively engaged with the charity RAISE Hope for Congo. In 2012, she was appointed as the ambassador for the Ryan Seacrest Foundation. Frequently, she makes appearances at children’s hospitals, demonstrating her commitment to helping young patients. Furthermore, Selena represented State Farm Insurance as a spokesperson, featuring in various commercials that aired on Disney, promoting the importance of safe driving.

Health Issues

In 2014, Selena received a diagnosis of Lupus. Later, in September 2017, she underwent a kidney transplant, which was graciously 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 been diagnosed with Bipolar Disorder. Moreover, she disclosed in November 2022 that she experienced a bout of psychosis in 2018.

Selena Gomez Net Worth Milestones

In December 2009, Selena was featured on CelebrityNetWorth with a net worth of $1 million, at the age of 17, while earning $30,000 per episode of “Wizards of Waverly Place.” Over her time on the show, she accumulated just over $3 million. By 2011, her net worth had surpassed $5 million. In April 2013, following her first solo album release, her net worth exceeded the $10 million mark. By 2015, thanks in large part to her success on Instagram, her net worth crossed $18 million. By mid-2018, growing profits from collaborations with Puma and Coach, along with album sales and her acting career, pushed her net worth to over $60 million. In 2019, Selena Gomez’s estimated net worth reached $75 million. According to our estimates, as of July 2023, her net worth is around $800 million, and by September 2024, she officially became a billionaire.

Real Estate

Throughout the years, Selena has owned multiple properties.

In July 2011, she purchased a home in Tarzana, California, for $2.175 million. The single-story residence spans 4,500 square feet and is located on an acre of land, previously belonging to rising star Jonah Hill. This property features five bedrooms and five bathrooms, a spacious eat-in kitchen, an office area, high ceilings, ample natural light, and elegant hardwood flooring. The backyard includes a spa, pool, tennis court, and a bocce ball court. In May 2014, she listed this home for $3.495 million but eventually sold it for $3.45 million in October 2014.

In 2014, she acquired a large house on 3.15 acres in a gated community in Calabasas for $3.69 million. At one point, she attempted to sell this home for $4.495 million but ultimately decided to take a slight loss. The new buyer was rapper French Montana, who put the property on the market in February 2020.

For $6.6 million, you can view a video tour of that residence:

In 2015, she purchased a notably large property in Fort Worth, Texas, for an undisclosed sum. She listed that home for $3.499 million in both 2016 and 2017, and subsequently put it back on the market in 2018 at $2.999 million. This property was sold in October 2020 for $2.4 million.

In 2017, she acquired a relatively modest home in Studio City, California, for $2.249 million, particularly considering her wealth. A year later, she placed it on the market for $2.799 million, concluding the sale at $2.3 million.

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