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 recognized as an American singer, actress, producer, songwriter, and social media sensation. The next section of this article elaborates on how her highly successful makeup business, Rare Beauty, constitutes the bulk of her wealth.

Starting as a child actress on shows like “Barney & Friends,” Selena Gomez has evolved into one of the most prominent stars globally. When compared to her Disney peers, she has successfully maintained a relatively drama-free image. Unlike other starlets such as Lindsay Lohan, Amanda Bynes, Britney Spears, and Demi Lovato, Ms. Gomez has demonstrated a remarkable ability to navigate fame, manage a busy lifestyle, maintain a high-profile relationship with Justin Bieber, and handle all things Disney with commendable composure.

Commencing her acting journey at the age of seven on “Barney & Friends,” she subsequently secured a recurring role on Seasons 2 and 3 of “Hannah Montana” for the Disney Channel. In 2007, she landed one of the lead roles in the acclaimed series “Wizards of Waverly Place.” Following that, she featured in films such as “Another Cinderella Story,” “Princess Protection Program,” and “Ramona and Beezus.” At present, she is a highly sought-after actress and brand endorser. In 2021, Selena took on a role in the Hulu series “Only Murders in the Building,” sharing the screen with Steve Martin and Martin Short.

Her music career also flourished, with three studio albums released as part of Selena Gomez & The Scene, all of which have achieved Gold certification.

Renowned as one of the most prominent personalities on social media, she ranks among the highest-paid endorsers globally. Currently, she boasts over 58 million followers on TikTok and more than 420 million on Instagram, having been the first woman to surpass the 400 million follower milestone on the platform. Furthermore, her YouTube channel has attracted over 33 million subscribers and amassed nearly 13 billion views.

When not busy recording, performing, filming, or rehearsing, she dedicates her time as a UNICEF Goodwill Ambassador.

Gomez has invested in and become an owner of 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

Apart from her career in acting and music, Selena is also a successful investor and entrepreneur.

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

Selena co-founded a mental health startup called Wondermind, which raised $5 million at a valuation of $100 million in August 2022. The round was led by Serena Williams’ venture fund, Serena Ventures, alongside Lightspeed Venture Partners and Sequoia Capital. Promoting itself as a “mental fitness” organization, Wondermind creates various content, including social media channels, newsletters, podcasts, and web materials.

Most crucial for Selena’s financial success is her establishment of the makeup brand Rare Beauty. Launched in September 2020 with a special drop at Sephora, Rare Beauty has seen immense success. The company generated over $100 million in revenue in 2022 and an unconfirmed $350 million in 2023. If we apply a conservative 4x revenue multiple, based on the assumption that $350 million is accurate, Rare Beauty’s valuation stands at a minimum of $1.4 billion today. Rumors in early 2024 suggested that Selena might be contemplating a $2 billion acquisition offer, with indications that she retains 51% ownership of the brand.

Rare Beauty has achieved success by concentrating…on easy-to-use, accessible, and moderately priced products like liquid foundation, lip liner, and liquid blush. The majority of these products are priced between $5 and $30.

Rare Beauty allocates 1% of all sales to its philanthropic fund, which has raised over $5 million to date, including contributions from donor events.

Early Life

Born Selena Marie Gomez on July 22, 1992, in Grand Prairie, Texas, Gomez is the daughter of Ricardo Joel Gomez and former stage actress Amanda Dawn (Mandy) Cornett. Her mother was only sixteen at the time of Selena’s birth. She was named after the renowned singer Selena Quintanilla-Perez. Following her parents’ divorce when she was five, Selena stayed with her mother, who faced financial difficulties while supporting them. In May 2010, Selena obtained her high school diploma through homeschooling.

Early Career

Selena’s first television appearance was on “Barney and Friends” from 2002 to 2004, where she portrayed the character Gianna in 14 episodes. During her time on “Barney,” she acted alongside Demi Lovato. In 2003, she made a cameo in “Spy Kids 3-D: Game Over” and appeared in the 2005 TV movie “Walker, Texas Ranger: Trial by Fire.” Selena also featured as a guest star on Disney’s “The Suite Life of Zack & Cody” in 2006 and had a recurring role in the popular series “Hannah Montana” as a pop star in 2007.

Acting Career

Her major breakthrough came with the series “Wizards of Waverly Place,” which was on air for 106 episodes from 2007 to 2012, along with two movies based on the show. For her role in “Wizards of Waverly Place,” she earned $30,000 per episode. Additionally, she has starred in various films and has established her own production company named July Moon Productions.

Music and Other Ventures

At the age of 16, Selena signed with Hollywood Records, the same label that had previously signed Miley Cyrus and Demi Lovato. She has produced three studio albums, two EPs, and one compilation album. As the lead singer of the band Selena Gomez and the Scene, they released three studio albums and a remix album. Selena has completed two solo tours and three tours alongside her former band.

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

$30 Million Puma Deal

Previously noted, Selena has been the face of the activewear brand Puma since September 2017. The two-year contract yielded a total of $30 million. To share the news, Selena took to Instagram, posting a photo of herself in Puma attire with the caption, “Officially a part of the fam @puma #pumapartner.”

In a press statement, Gomez expressed her excitement about the forthcoming collaboration with Puma, stating, “very exciting.” The release added, “Puma has redefined the intersection of athletic apparel and fashion … It’s incredible to witness this impact on style and culture, and I’m thrilled to be involved. I look forward to creating something unique together. We already have some exciting projects lined up.”

According to Adam Petrick, Global Director for Brand and Marketing at PUMA, “Selena embodies authenticity, creativity, talent, and fearless realism. She represents everything that the modern female consumer seeks in a role model … Recently, she has shown remarkable strength. Her honest discourse about living with Lupus serves as a powerful example of confidence and resilience for everyone. Selena is an ideal partner for PUMA because she tackles life’s challenges head-on; she endures and thrives, which perfectly aligns with PUMA’s ethos. She will play a crucial role in representing and elevating our women’s division.”

Gomez’s inaugural appearance for Puma is set to be in the brand’s latest campaign featuring the Phenom, part of Puma’s newest women’s footwear collection.

$10 Million Coach Deal

In December 2016, Gomez entered into a $10 million endorsement agreement with the handbag manufacturer Coach. At that time, Selena was just 24 years old. Not only did she assume the role of the brand’s new face, but the agreement also permitted her to launch her own collection for Coach, which aimed to attract a broader customer demographic. The brand hoped to appeal to younger consumers, with Selena being the most followed individual on Instagram, while still catering to their existing mature clientele.

Stuart Vevers, the creative director for Coach, mentioned the brand is embracing a “new day at Coach.” During an interview with British Vogue, he remarked, “Upon joining, I drew inspiration from our history as a guiding principle, so I was on a journey to identify what could resonate as authentic at Coach … It was crucial for me to be bold, look ahead, and investigate what the upcoming generation desires in luxury and fashion.”

Consequently, the 75-year-old brand, which is viewedwith numerous organizations and has dedicated her time to various charitable endeavors. While some view Coach as a “heritage” brand primarily catering to an older demographic, the company is increasingly targeting a younger audience. At Coach’s recent 75th anniversary celebration, several young celebrities were in attendance, including Michael B. Jordan, Diplo, and Zoë Kravitz. Coach aims to leverage this youthful star power to attract a new generation of customers, with the signing of Gomez serving as another step in that direction.

Earnings from Instagram

Selena had been the most-followed individual on Instagram for many years and currently boasts over 420 million followers.

It is estimated that a single Instagram post from Selena holds a value of approximately $3.5 million for the brand that sponsors it. Her earnings for individual sponsored posts typically range from $500,000 to $800,000. Through her various activities, primarily with Coach, Puma, and Instagram, Selena’s annual income is estimated at $10-15 million. While this is an impressive sum, it doesn’t place her among the 100 highest-paid celebrities globally; perhaps Ms. Gomez prefers a low-profile lifestyle.

Personal Life

Selena briefly dated Nick Jonas in 2008. She is also well-known for her tumultuous, on-and-off relationship with fellow pop star Justin Bieber. The relationship caused Selena significant stress, leading her to seek treatment in a rehabilitation facility. They had a serious relationship lasting two years from December 2010 to November 2012, then they split, only to reunite later. This cycle repeated throughout 2013, 2014, 2015, and 2017, with the couple reportedly breaking up for good in March 2018. Additionally, Gomez was in a relationship with The Weeknd from January to October 2017, leading to references to her in his album “My Dear Melancholy,” released in March 2018.

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

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

Philanthropy

Selena is highly engaged in philanthropy, dedicating many hours to a variety of causes. She collaborates closely with several organizations and has committed herself to many charitable projects.

With UNICEF, Gomez serves as the organization’s ambassador for the trick-or-treat fundraising initiative. In 2009, she ventured to Ghana for a week to observe the dire situations faced by impoverished children lacking essentials like clean water and nourishment. Using her celebrity status, she aimed to shed light on Ghana’s struggles through UNICEF. Additionally, she visited Chile to connect with the families involved in UNICEF’s Programa Puente, which supports families in acquiring parenting skills.

Gomez also represents DoSomething.org as their ambassador and participates in the charity RAISE Hope for Congo. In 2012, she was appointed as the ambassador for the Ryan Seacrest Foundation. Her commitment to children’s health is evident through her frequent visits to children’s hospitals. Furthermore, Selena served as a spokesperson for State Farm Insurance, featuring in various commercials broadcast on Disney to highlight the importance of safe driving.

Health Issues

In 2014, Selena was diagnosed with Lupus. She underwent a kidney transplant in September 2017, thanks to her friend and fellow actress Francia Raisa, known for her role in “The Secret Life of the American Teenager.” It was disclosed in April 2020 that Selena also has Bipolar Disorder. In November 2022, she revealed that she experienced an episode of psychosis in 2018.

Selena Gomez Net Worth Milestones

Selena was added to the CelebrityNetWorth directory in December 2009, boasting a net worth of $1 million at just 17 years old, earning $30,000 per episode of “Wizards of Waverly Place.” Her earnings from the show amounted to just over $3 million. By 2011, her net worth had exceeded $5 million. In April 2013, it surpassed $10 million following the release of her debut solo album. By 2015, her net worth increased to over $18 million, significantly influenced by Instagram. Through various deals, including Puma and Coach, album sales, numerous singles, and her acting career, her net worth reached over $60 million by mid-2018. By 2019, it was estimated at $75 million. As of July 2023, her net worth, thanks to Rare Beauty, was estimated to be $800 million. By September 2024, Selena officially attained 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. The 4,500-square-foot residence, sitting on an acre of land, was formerly owned by rising star Jonah Hill. This single-story home features five bedrooms and five bathrooms, a spacious eat-in kitchen, an office, high ceilings, ample natural light, and lovely hardwood flooring. The backyard includes a spa, a swimming pool, a tennis court, and a bocce ball court. She listed this property in May 2014 for $3.495 million and sold it for $3.45 million in October 2014.

In 2014, she invested $3.69 million in a sizable house located on 3.15 acres within a gated community in Calabasas. At one point, she attempted to market this home for $4.495 million but ultimately accepted a slight loss. The buyer, rapper French Montana, subsequently listed the property in February 2020.

Priced at $6.6 million, here is a video tour of the property:

In 2015, a substantial but unreported amount was spent by her to acquire a large home located in Fort Worth, Texas. The following year, she listed the property for $3.499 million in both 2016 and 2017 and reapplied the listing in 2018 for $2.999 million. Ultimately, the house was sold in October 2020 for $2.4 million.

In 2017, she paid $2.249 million for a relatively modest home in Studio City, California, considering her wealth. A year later, she placed it on the market for $2.799 million, eventually selling it for $2.3 million.

Selena made an acquisition in April 2020, purchasing an 11,500-square-foot house in Encino, California, for $4.9 million. The home was custom-built by Tom Petty in the late 1980s and was transferred to his ex-wife during their divorce in 1996. After losing the property to foreclosure in 2015, Tom’s ex-wife sold it to Selena, who bought it from a private individual that had owned it for less than a year, earning a $400,000 profit on the transaction.