Selena Gomez Net Worth (Money & Salary)

What Is Selena Gomez’s Net Worth and Salary?

Selena Gomez, a prominent American singer, actress, producer, songwriter, and social media superstar, has amassed a net worth of $1 billion. The upcoming section of this article will elaborate on how her immensely successful makeup brand, Rare Beauty, contributes significantly to her wealth.

Beginning her career as a child actress in “Barney & Friends,” Selena Gomez has risen to become one of the world’s biggest celebrities. Compared to some other Disney starlets, she has notably avoided much of the drama. Unlike Lindsay Lohan, Amanda Bynes, Britney Spears, and Demi Lovato, Ms. Gomez has navigated fame, a hectic schedule, a highly publicized relationship with Justin Bieber, and her Disney legacy with remarkable composure.

She started acting professionally at the age of seven with “Barney & Friends” and subsequently took on a recurring role in Seasons 2 and 3 of “Hannah Montana” on the Disney Channel. In 2007, she landed a leading role in the beloved series “Wizards of Waverly Place.” Following that success, she featured in films such as “Another Cinderella Story,” “Princess Protection Program,” and “Ramona and Beezus.” Nowadays, she is a highly sought-after actress and brand ambassador. In 2021, Selena began starring in the Hulu series “Only Murders in the Building,” sharing billing with Steve Martin and Martin Short.

In addition to her acting career, she has established a successful music path with three studio albums released under Selena Gomez & The Scene, all of which have earned Gold status.

As one of the most followed personalities on social media, she ranks among the highest-paid endorsers globally. Currently, she boasts over 58 million TikTok followers and more than 420 million on Instagram, being the first woman to reach the 400 million milestone on the platform. Her YouTube channel has over 33 million subscribers, accumulating nearly 13 billion views.

When not involved in recording, performing, or shooting projects, she dedicates her time as a UNICEF Goodwill Ambassador.

Additionally, Gomez has become an investor and owner in the ice cream brand Serendipity. This September, she launched her makeup line, Rare Beauty. Moreover, she is a co-founder of “Wondermind,” a mental health platform, and is an investor in the food delivery service Gopuff.

Rare Beauty & Other Investments

Outside her work in acting and music, Selena has thrived as an investor and entrepreneur.

In 2020, she co-owned and invested in the ice cream brand Serendipity.

Selena is also the co-founder of a mental health startup named Wondermind. In August 2022, the company secured $5 million at a valuation of $100 million. The investment round was led by Serena Williams’ venture fund, Serena Ventures, along with Lightspeed Venture Partners and Sequoia Capital. Wonderkind, which brands itself as a “mental fitness” company, produces web content, social media channels, newsletters, podcasts, and more.

A key aspect contributing to Selena’s net worth is her establishment of the makeup label Rare Beauty. Launched in September 2020 with an exclusive release at Sephora, Rare Beauty has achieved substantial success. By 2022, the company had generated at least $100 million in revenue, with an unverified estimate of $350 million in 2023. Using a conservative 4x revenue multiple, and assuming the $350 million figure holds, Rare Beauty is valued at a minimum of $1.4 billion today. Reports in early 2024 indicated that Selena was contemplating a possible acquisition offer valued at $2 billion, with her ownership stake in the brand being 51%.

The success of Rare Beauty has been attributed to its focus on…on products that are moderately priced, accessible, and easy to use, such as lip liner, liquid blush, and liquid foundation. The majority of these products range from $5 to $30.

Rare Beauty contributes 1% of all sales to its own philanthropic fund, which has successfully raised over $5 million to date, including funds from 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. When Selena was born, her mother was only sixteen. She was named after the famed singer Selena Quintanilla-Perez. After her parents divorced when she was five, she stayed with her mother, who faced financial difficulties while raising her. In May 2010, Selena obtained her high school diploma through homeschooling.

Early Career

Selena’s television career began with “Barney and Friends,” where she played Gianna from 2002 to 2004, appearing in 14 episodes. She shared the screen with fellow actor Demi Lovato while filming “Barney.” During this time, she made a cameo in “Spy Kids 3-D: Game Over” in 2003 and acted in the made-for-TV movie “Walker, Texas Ranger: Trial by Fire” in 2005. In 2006, Selena guest-starred in “The Suite Life of Zack & Cody” on Disney and had a recurring role as a pop star in the popular Disney series “Hannah Montana” in 2007.

Acting Career

Her major breakthrough came with the role in “Wizards of Waverly Place,” which ran for 106 episodes from 2007 to 2012, along with two movies. For each episode of “Wizards of Waverly Place,” Selena earned $30,000. She has also starred in various films and has recently established 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 produced three studio albums, two EPs, and one compilation album. Additionally, Gomez led the band Selena Gomez and the Scene, which released three studio albums and one remix album. She has completed two solo tours and three tours with her band.

In September 2017, news emerged that Selena had secured a two-year, $30 million endorsement contract with Puma, positioning her as the brand’s new face alongside Rihanna. Moreover, she serves as an executive producer for the Netflix series “13 Reasons Why” and “Living Undocumented.”

$30 Million Puma Deal

Selena has been the face of the activewear brand Puma since September 2017, as previously mentioned. This two-year agreement is worth a total of $30 million. She shared the news on Instagram by posting a picture of herself in Puma attire along with the caption, “Officially a part of the fam @puma #pumapartner.”

In a press release, Gomez expressed her excitement for the upcoming partnership with Puma, stating, “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 hope we can create something special together; we have some really cool projects in the works.”

Adam Petrick, PUMA’s Global Director for Brand and Marketing, shared, “Selena is authentic, creative, talented, and fearlessly real. She embodies what today’s female consumer seeks in a role model … Recently, she has shown remarkable strength. Her honesty about living with Lupus has set an incredible example of confidence, poise, and determination for all. Selena is the ideal partner for PUMA; she embraces the challenges our world presents. Her perseverance aligns perfectly with PUMA’s ethos, and she will not only represent but also define and elevate our women’s business.”

Gomez’s initial appearance for Puma will feature in the brand’s latest campaign for the Phenom, which is one of Puma’s newest women’s footwear lines.

$10 Million Coach Deal

In December 2016, Gomez entered into a $10 million endorsement agreement with Coach, a bag manufacturer. At that time, Selena was just 24. Along with becoming the brand ambassador, this deal also granted Gomez the opportunity to create her own collection for Coach, which aimed to expand its clientele base. The brand was optimistic that a partnership with Selena—who was then the most followed person on Instagram—would attract younger consumers while maintaining appeal to their more mature audience.

Stuart Vevers, Coach’s creative director, noted the brand’s direction toward a “new day at Coach.” In a discussion with British Vogue, he elaborated, “When I first joined, I used our history as a touchstone, so it was crucial for me to identify the elements that would resonate with Coach … Being bold and looking ahead to understand what the next generation seeks from luxury and fashion was essential.”

Consequently, the 75-year-old brand is seen as looking to…with numerous charitable organizations, actively contributing her time and resources to support various initiatives. Some of the noteworthy causes Selena champions include mental health awareness, education, and women’s rights. With a genuine commitment to making a difference, she has also used her platform to promote these issues and encourage her fans to get involved.

Earnings from Instagram

Selena has held the title of the most-followed individual on Instagram for several years, currently boasting over 420 million followers.

Estimates indicate that a single Instagram post from her could generate a value of around $3.5 million for the sponsoring brand. It is reported that she earns between $500,000 and $800,000 for one sponsored post. Across her various ventures, including Coach, Puma, and Instagram, Selena’s annual income ranges between $10-15 million. This is indeed an impressive figure, albeit not quite sufficient to rank her among the top 100 highest-paid celebrities globally. Ms. Gomez may prefer maintaining a lower profile.

Personal Life

Selena’s early romantic involvements included a brief relationship with Nick Jonas in 2008. Additionally, she is well-known for her tumultuous on-again-off-again romance with fellow pop artist Justin Bieber. Reports suggest that the relationship was stressful enough for Selena to seek rehabilitation. The couple’s serious relationship lasted from December 2010 to November 2012, after which they broke up, only to reunite multiple times. This cycle occurred again in 2013, 2014, 2015, and 2017, until they ultimately parted ways in March 2018. Furthermore, Gomez was in a relationship with The Weeknd from January to October 2017, with references to her in The Weeknd’s album “My Dear Melancholy,” released in March 2018.

Selena Gomez has referred to Taylor Swift as her sole friend within the entertainment industry.

In December 2023, she publicly shared that she is currently dating producer Benny Blanco.

Philanthropy

A dedicated philanthropist, Selena invests significant time volunteering for a variety of causes. She actively collaborates with numerous charitable organizations to make an impact in areas such as mental health advocacy, education initiatives, and women’s rights. Through her platform, she frequently raises awareness about these important issues and motivates her audience to join her in making a positive difference.

Currently serving as the organization’s ambassador to the trick-or-treat fundraising program, Gomez works with UNICEF. In 2009, she traveled to Ghana for a week to directly witness the dire conditions faced by impoverished children who lacked essential resources such as clean water and food. Leveraging her celebrity status, she brought attention to Ghana through her involvement with UNICEF. Additionally, Gomez visited Chile to connect with families participating in UNICEF’s Programa Puente, which aids in equipping families with the necessary skills for child-rearing.

As the ambassador for Do.Something.org, Gomez also supports the charity RAISE Hope for Congo. In 2012, she was appointed as an ambassador for the Ryan Seacrest Foundation and is recognized for her regular visits to children’s hospitals. Furthermore, Selena served as a spokesperson for State Farm Insurance, where she appeared in multiple commercials aired on Disney, aimed at promoting safe driving awareness.

Health Issues

In 2014, Selena received a diagnosis of Lupus. She underwent a kidney transplant in September 2017, thanks to her friend and fellow actress Francia Raisa, who is known for “The Secret Life of the American Teenager.” In April 2020, it was disclosed that Selena had been diagnosed with Bipolar Disorder. Later, in November 2022, she shared that she experienced an episode of psychosis back in 2018.

Selena Gomez Net Worth Milestones

In December 2009, Selena was added to CelebrityNetWorth with a net worth of $1 million at the age of 17, earning $30,000 per episode of “Wizards of Waverly Place,” which brought her total earnings from the show to just over $3 million. By 2011, her net worth had exceeded $5 million, and in April 2013, after launching her debut solo album, she surpassed $10 million. Her net worth climbed to over $18 million by 2015 due primarily to her presence on Instagram. Thanks to deals with Puma and Coach, album sales, numerous singles, and her acting career, her net worth reached over $60 million by mid-2018. In 2019, Selena Gomez’s net worth stood at $75 million. By July 2023, her net worth, driven largely by Rare Beauty, was estimated at $800 million, and by September 2024, she officially became a billionaire.

Real Estate

Over the years, Selena has owned various properties.

In July 2011, she purchased a home in Tarzana, California, for $2.175 million. This one-story residence covers 4,500 square feet and rests on an acre of land. Previously owned by emerging star Jonah Hill, it includes five bedrooms and five bathrooms. The house boasts a spacious eat-in kitchen, an office area, high ceilings, abundant natural light, and exquisite hardwood flooring. The backyard features a spa, a pool, a tennis court, and a bocce ball court. In May 2014, she listed this property for sale at $3.495 million, eventually selling it for $3.45 million in October 2014.

In 2014, she acquired a sizable house in a gated Calabasas community for $3.69 million, sitting on 3.15 acres. At one point, she attempted to sell this home for $4.495 million but ultimately took a minor loss when rapper French Montana bought it, who listed the property in February 2020.

for $6.6 million. Below is a video tour of that residence:

In 2015, a substantial sum (not publicly disclosed) was used by her to purchase a large property in Fort Worth, Texas. She first listed that house for $3.499 million in 2016 and 2017, and then in 2018, it was re-listed for $2.999 million. Ultimately, she sold this property in October 2020 for $2.4 million.

In 2017, she acquired a relatively modest home (considering her wealth) in Studio City, California, spending $2.249 million. The following year, she listed it for sale at $2.799 million, and it was sold for $2.3 million.

Selena purchased an 11,500-square-foot home in Encino, California for $4.9 million in April 2020. This residence was custom-built by Tom Petty in the late 1980s and subsequently taken over by his ex-wife during their divorce in 1996. After being lost to foreclosure in 2015, the home was sold to Selena by a private individual who had owned it for less than a year, reportedly making a $400,000 profit.