Selena Gomez Net Worth (Money & Salary)

What Is Selena Gomez’s Net Worth and Salary?

An American singer, actress, producer, songwriter, and social media sensation, Selena Gomez boasts a net worth estimated at $1 billion. The primary contributor to her wealth, as described in the following section, is her exceptionally successful makeup brand, Rare Beauty.

Starting out as a child actress on shows such as “Barney & Friends,” Selena has evolved into one of the globe’s most prominent celebrities. In contrast to some of her Disney-starring peers, Gomez has maintained an impressive level of drama-free living. She has handled the challenges of fame, a demanding career, a highly publicized relationship with Justin Bieber, and her Disney beginnings with remarkable composure, setting her apart from Lindsay Lohan, Amanda Bynes, Britney Spears, and Demi Lovato.

At the age of seven, she embarked on her professional acting journey with “Barney & Friends” and subsequently landed a recurring role on two seasons of “Hannah Montana” for Disney Channel. In 2007, she was chosen as one of the leads in the popular series “Wizards of Waverly Place.” This role was followed by appearances in movies like “Another Cinderella Story,” “Princess Protection Program,” and “Ramona and Beezus.” Today, she is a highly sought-after actress and brand ambassador. In 2021, Selena starred in the Hulu series “Only Murders in the Building,” alongside Steve Martin and Martin Short.

In addition to her acting career, she has successfully ventured into music, releasing three studio albums with Selena Gomez & The Scene, all of which achieved Gold certification.

Selena Gomez is one of the leading personalities on social media and ranks among the highest-paid endorsers worldwide. Currently, she has over 58 million followers on TikTok along with more than 420 million on Instagram, making her the first woman to reach the 400 million follower milestone on that platform. Her YouTube channel enjoys a subscriber base of more than 33 million with nearly 13 billion views.

Outside of her entertainment endeavors, Selena serves as a UNICEF Goodwill Ambassador during her downtime from recording, performing, filming projects, or rehearsing.

Additionally, she has made investments, including becoming an owner in the ice cream brand Serendipity. In September, she introduced her makeup line, Rare Beauty. Furthermore, she co-founded the mental health initiative “Wondermind” and is an investor in the food delivery service Gopuff.

Rare Beauty & Other Investments

Selena has established herself as a prosperous investor and entrepreneur beyond her roles in acting and singing.

In 2020, she ventured into co-ownership and investment with the ice cream brand Serendipity.

Selena also co-founded a mental health startup known as Wondermind, which successfully raised $5 million at a valuation of $100 million in August 2022. This funding round was led by Serena Williams’ venture fund, Serena Ventures, in partnership with Lightspeed Venture Partners and Sequoia Capital. Wondermind, which markets itself as a “mental fitness” enterprise, creates social media channels, web content, newsletters, podcasts, and more.

Crucially for her overall net worth, Selena is the founder of the makeup line Rare Beauty, which she launched in September 2020 with an exclusive debut at Sephora. Rare Beauty has experienced remarkable success, generating at least $100 million in revenue in 2022. An unverified $350 million was reported for 2023. If we apply a conservative 4x revenue multiple and accept the $350 million figure as accurate, this places Rare Beauty’s valuation at a minimum of $1.4 billion today. Reports in early 2024 indicated that she was contemplating a $2 billion acquisition offer, with the understanding that she owns 51% of the brand.

Rare Beauty has achieved its success by concentrating
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Focusing on products that are affordable, accessible, and user-friendly, Rare Beauty offers items like lip liner, liquid blush, and liquid foundation, with most products priced between $5 and $30.

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

Early Life

Selena Marie Gomez was born on July 22, 1992, in Grand Prairie, Texas, to parents Ricardo Joel Gomez and Amanda Dawn (Mandy) Cornett, a former stage actress. At the age of sixteen, her mother gave birth to Selena. Named after the renowned singer Selena Quintanilla-Perez, Gomez’s life took a turn when her parents divorced when she was five, leaving her and her mother to face financial struggles. She completed her high school education through homeschooling, earning her diploma in May 2010.

Early Career

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

Acting Career

Her major breakout role came with the series “Wizards of Waverly Place,” which aired 106 episodes from 2007 to 2012, alongside two movies based on the show. Selena earned $30,000 per episode for her performance in “Wizards of Waverly Place” and has since acted in various films while also establishing her 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 a compilation album. Additionally, as the lead singer of the band Selena Gomez and the Scene, she contributed to three studio albums and one remix album. Selena has undertaken two solo tours and three tours with her band.

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

$30 Million Puma Deal

As previously stated, Selena has been the face of Puma, the activewear brand, since September 2017. This partnership entailed a two-year agreement worth a total of $30 million. Through her Instagram account, Selena revealed the collaboration by posting a picture of herself in Puma apparel along with the caption, “Officially a part of the fam @puma #pumapartner.”

Gomez shared her thoughts in a press release, expressing that she finds the upcoming partnership with Puma “very exciting.” The release further elaborated, stating, “Puma has transformed the landscape of merging athletic apparel with fashion … The impact on style and culture is remarkable, and I am thrilled to be involved. I look forward to creating something truly special together. We already have some outstanding projects in progress.”

According to Adam Petrick, Global Director of Brand and Marketing for PUMA, “Selena embodies authenticity, creativity, talent, and a genuine spirit. She aligns perfectly with the aspirations of today’s female consumers seeking a role model … Recently, she has shown remarkable strength. Her candidness about living with Lupus sets a powerful example of confidence, grace, and resilience for everyone. Selena is an ideal collaborator for PUMA, exemplifying our brand ethos of facing our world’s challenges head-on; she is a fighter and a perseverant individual. Not only will she represent our brand, but she’ll also play a significant role in shaping and expanding our women’s initiatives.”

For her inaugural appearance with Puma, Gomez will feature in the brand’s latest campaign promoting the Phenom, a new line of women’s footwear from Puma.

$10 Million Coach Deal

In December of 2016, Gomez entered into a $10 million endorsement agreement with Coach, the bag manufacturer. At that point, Selena was just 24 years old. Not only was she appointed as the brand’s new face, but the contract also allowed her to develop her own line for Coach, which aimed to expand its customer base. The brand sought to attract younger consumers through Selena, who was then the most followed individual on Instagram, while maintaining appeal to their existing mature clientele.

Stuart Vevers, the creative director at Coach, indicated that the entire brand is moving toward a “new day at Coach.” In an interview with British Vogue, he mentioned, “Upon my arrival, I utilized our history as a guiding framework, allowing me to uncover elements that resonate with Coach … I believed it was crucial to be adventurous, to look ahead, and to understand what luxury and fashion mean to the next generation.”

Consequently, the 75-year-old brand is now looking to reinvent itself and connect with the new generation…
“`as a “heritage” brand perceived by some to cater to an older demographic, but Coach is actively striving to engage a younger audience. At the recent celebration of Coach’s 75th anniversary, young celebrities like Michael B. Jordan, Diplo, and Zoë Kravitz made notable appearances. Coach aims to leverage this youthful star power to attract a new generation of customers. Signing Gomez marks yet another significant step in that direction.

Earnings from Instagram

Selena was the most-followed individual on Instagram for many years, and she currently boasts over 420 million followers.

Estimates suggest that one of Selena’s Instagram posts carries a value of approximately $3.5 million to the brand sponsoring it. For a single sponsored post, she is known to earn between $500,000 to $800,000. Through her various projects, mainly with Coach, Puma, and Instagram, Selena generates an annual income of $10-15 million. While this is an impressive figure, it doesn’t quite place her among the 100 highest-paid celebrities globally. Perhaps Ms. Gomez opts for a more discreet lifestyle.

Personal Life

Selena briefly dated Nick Jonas in 2008 and is also known for her tumultuous on-again-off-again relationship with fellow pop star Justin Bieber. Reports claim that the pressure of this relationship led Selena to undergo treatment at a rehabilitation facility. They were in a serious relationship for two years, from December 2010 until November 2012, breaking up and then reuniting several times thereafter. This cycle continued in 2013, 2014, 2015, and 2017, with their final breakup reported in March 2018. She also had a relationship with The Weeknd from January to October 2017, during which time his album “My Dear Melancholy,” released in March 2018, made several references to her.

Selena Gomez has described Taylor Swift as her “only” friend within the industry.

In December 2023, Selena disclosed that she was in a relationship with producer Benny Blanco.

Philanthropy

Selena is deeply involved in philanthropy, dedicating numerous hours to a wide array of causes. She collaborates closely

Currently, Gomez serves as UNICEF’s ambassador for the trick-or-treat fundraising initiative. In 2009, she spent a week in Ghana to observe the dire conditions faced by impoverished children lacking fundamental resources such as clean water and food. Through her association with UNICEF, she brought attention to the situation in Ghana. Additionally, she visited Chile to interact with families involved in UNICEF’s Programa Puente, a program designed to equip families with parenting skills.

Gomez holds the title of ambassador for Do.Something.org and is also actively engaged with the charity RAISE Hope for Congo. Her role as ambassador for the Ryan Seacrest Foundation began in 2012. She is recognized for her regular visits to children’s hospitals. Furthermore, Selena has served as a spokesperson for State Farm Insurance and has appeared in multiple Disney commercials aimed at promoting safe driving awareness.

Health Issues

In 2014, Selena received a diagnosis of Lupus. She underwent a kidney transplant in September 2017, a procedure for which her friend and fellow actress Francia Raisa (known for “The Secret Life of the American Teenager”) was her donor. In April 2020, it was disclosed that Selena had also been diagnosed with Bipolar Disorder. She revealed in November 2022 that she experienced a psychotic episode in 2018.

Selena Gomez Net Worth Milestones

Selena’s net worth was recorded at $1 million by CelebrityNetWorth in December 2009 when she was just 17 years old and earned $30,000 per episode of “Wizards of Waverly Place.” Over the course of the show, she accumulated slightly more than $3 million. By 2011, her net worth exceeded $5 million. Following the release of her debut solo album in April 2013, it surpassed the $10 million mark. In 2015, her net worth grew to over $18 million, significantly attributed to her presence on Instagram. With revenues from Puma, Coach, various album sales, numerous singles, her acting career, and more, 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, largely thanks to Rare Beauty, was approximated at $800 million, and she officially became a billionaire in September 2024.

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 residence, which spans 4,500 square feet, sits on an acre of land and was previously owned by rising star Jonah Hill. This single-story house comprises five bedrooms and five bathrooms, featuring a spacious eat-in kitchen, an office area, high ceilings, abundant natural light, and exquisite hardwood flooring. The backyard showcases a spa, pool, tennis court, and bocce ball court. She initially listed the home in May 2014 for $3.495 million, ultimately selling it for $3.45 million in October 2014.

In 2014, she acquired a substantial house located on 3.15 acres within a gated community in Calabasas for $3.69 million. At one point, she attempted to sell this property for $4.495 million but eventually settled for a minor loss. The buyer was rapper French Montana, who listed the home in February 2020.

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

In 2015, a significant but unrecorded sum was spent by her to purchase a large residence in Fort Worth, Texas. That property was listed for $3.499 million in both 2016 and 2017, and then it appeared on the market again in 2018 for $2.999 million. This home was eventually sold in October 2020 for $2.4 million.

In 2017, she acquired a relatively modest home (by her standards) in Studio City, California, for $2.249 million. A year later, it was listed for sale at $2.799 million and ultimately sold for $2.3 million.

Selena purchased an 11,500-square-foot home in Encino, California, for $4.9 million in April 2020. Custom-built by Tom Petty in the late 1980s, it was passed to his ex-wife after their divorce in 1996. Tom’s ex-wife faced foreclosure on the property in 2015. Selena acquired the home from a non-celebrity who had owned it for less than a year, realizing a profit of $400,000 on the sale.