Selena Gomez Net Worth (Money & Salary)

What Is Selena Gomez’s Net Worth and Salary?

Selena Gomez, an American singer, actress, producer, songwriter, and social media phenomenon, boasts a net worth of $1 billion. The next section will outline how her immensely successful makeup brand, Rare Beauty, contributes significantly to her wealth.

Starting her career as a child actress on shows such as “Barney & Friends,” Selena Gomez has evolved into one of the globe’s most prominent stars. Compared to some of her fellow Disney stars, she has maintained a relatively scandal-free existence. In contrast to Lindsay Lohan, Amanda Bynes, Britney Spears, and Demi Lovato, Gomez has adeptly navigated the challenges of fame, a demanding work schedule, a high-profile relationship with Justin Bieber, and all things Disney with commendable grace.

Beginning her professional acting journey at the age of seven on “Barney & Friends,” she later took on a recurring role in Seasons 2 and 3 of “Hannah Montana” on the Disney Channel. In 2007, she landed a lead role in the widely popular series “Wizards of Waverly Place.” Subsequently, she 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 ambassador. In 2021, Selena joined the cast of the Hulu series “Only Murders in the Building,” alongside Steve Martin and Martin Short.

Simultaneously, she embarked on a successful music journey, releasing three studio albums under the name Selena Gomez & The Scene, with all three albums achieving Gold certification.

As one of the most recognizable figures on social media, Selena ranks among the highest-paid endorsers globally. As of now, she boasts over 58 million followers on TikTok and more than 420 million followers on Instagram, making her the first woman to surpass the 400 million milestone on the platform. Her YouTube channel has attracted over 33 million subscribers and nearly 13 billion views in total.

When she’s not busy with recording, performing, filming, or rehearsing, she serves as a UNICEF Goodwill Ambassador.

Selena has taken on the role of owner and investor in the ice cream company Serendipity. In September, the cosmetics line Rare Beauty made its debut. Additionally, she co-founded a mental health initiative named “Wondermind” and has invested in the food delivery service Gopuff.

Rare Beauty & Other Investments

Apart from her singing and acting endeavors, Selena shines as a successful entrepreneur and investor.

In 2020, she became a co-owner and investor in the ice cream brand Serendipity.

Selena co-founded a mental health startup called Wondermind. In August 2022, Wondermind secured $5 million in funding with a $100 million valuation. Serena Ventures led this funding round in partnership with Lightspeed Venture Partners and Sequoia Capital. Marketing itself as a “mental fitness” entity, Wondermind offers social media channels, web content, newsletters, podcasts, and more.

Most crucially for Selena’s overall net worth, she is the founder of the cosmetic line Rare Beauty. Launched in September 2020 with an exclusive launch at Sephora, Rare Beauty has proven to be an enormous success. The company generated at least $100 million in revenue in 2022 and an unverified $350 million in 2023. Assuming the latter figure is accurate and applying a conservative 4x revenue multiple, Rare Beauty is currently valued at a minimum of $1.4 billion. By early 2024, Selena was reportedly contemplating a $2 billion acquisition proposal, with her ownership stake in the brand at approximately 51%.

Rare Beauty has achieved success by focusing

Moderately priced, easily accessible, and user-friendly products like lip liner, liquid blush, and liquid foundation are the focus, with most items priced between $5 and $30.

1% of all sales from Rare Beauty is donated to its philanthropic fund, which has successfully raised over $5 million thus far, including contributions from donor events.

Early Life

Born Selena Marie Gomez on July 22, 1992, in Grand Prairie, Texas, Selena is the daughter of Ricardo Joel Gomez and Amanda Dawn (Mandy) Cornett, a former stage actress. At 16, her mother gave birth to her. The name Gomez was inspired by the famous singer Selena Quintanilla-Perez. When Selena was five, her parents divorced, and she lived with her mother, who faced financial difficulties while raising them. In May 2010, Selena completed her high school education through homeschooling.

Early Career

Selena’s early television career began with her role as Gianna on the show “Barney and Friends,” which she appeared in from 2002 to 2004, participating in 14 episodes alongside future co-star Demi Lovato. During this period, she also had a cameo in the film “Spy Kids 3-D: Game Over” in 2003 and appeared in the made-for-TV movie “Walker, Texas Ranger: Trial by Fire” in 2005. In 2006, Selena guest-starred on Disney’s “The Suite Life of Zack & Cody” and had a recurring role in “Hannah Montana” in 2007 as a pop star.

Acting Career

Selena achieved significant recognition with her lead role in the TV series “Wizards of Waverly Place,” which aired 106 episodes from 2007 to 2012, alongside two movies based on the show. Each episode earned Selena $30,000. Her career also includes several films, and she established her production company, July Moon Productions.

Music and Other Ventures

Signed to Hollywood Records at age 16, the same label representing Miley Cyrus and Demi Lovato, Selena has released three studio albums, two EPs, and one compilation album. She was the lead vocalist of the band Selena Gomez and the Scene, which put out three studio albums and a remix album. Throughout her career, she has conducted two solo tours and three tours with her band.

In September 2017, news broke of Selena’s two-year endorsement deal with Puma, valued at $30 million, making her the new ambassador for the company alongside Rihanna. Additionally, she serves as an executive producer for Netflix series “13 Reasons Why” and “Living Undocumented.”

$30 Million Puma Deal

Selena serves as the face of activewear brand Puma since September 2017, as previously mentioned. This partnership, which spans two years, is worth a total of $30 million. She took to Instagram to announce this deal, sharing a photo of herself in Puma apparel along with the caption, “Officially a part of the fam @puma #pumapartner.”

In a statement provided to the press, Gomez expressed her enthusiasm for the collaboration with Puma, calling it “very exciting.” The statement 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.”

According to Adam Petrick, Global Director for Brand and Marketing at PUMA, “Selena is authentic, creative, talented, and fearlessly real. She embodies everything today’s female consumer seeks in a role model … Recently, she has showcased her remarkable strength. By sharing her experiences living with Lupus, she exemplifies confidence, poise, and determination for us all. Selena is an ideal partner for PUMA as she embraces the challenges our world presents; she fights hard and perseveres, which aligns perfectly with PUMA’s values. She will not just represent our brand but actively help define and enhance our women’s business.”

The brand’s latest campaign for the Phenom, one of Puma’s newest women’s footwear lines, will mark Gomez’s first appearance for Puma.

$10 Million Coach Deal

In December 2016, Gomez entered into a $10 million endorsement agreement with Coach, the handbag manufacturer. At the age of 24, she not only became the face of the brand but was also given the opportunity to design her own line, aligning with Coach’s goal to attract a broader customer base. The brand aimed to engage younger customers through Selena, who had been the most followed person on Instagram at that time, while also keeping their older clientele satisfied.

Stuart Vevers, Coach’s creative director, noted that the entire brand is moving towards a “new day at Coach.” In an interview with British Vogue, he stated, “When I first joined, I leaned on our history as a touchstone. It was crucial for me to uncover what could realistically resonate at Coach … I believed it was important to be bold, to look forward and explore what the next generation desires from luxury and fashion.”

Consequently, the 75-year-old brand is seeking to reinvent itself to remain relevant and appealing in today’s market.

Characterized by some as a “heritage” brand for older demographics, Coach has been actively seeking to engage a younger audience. During Coach’s recent celebration of its 75th anniversary, several younger celebrities, including Michael B. Jordan, Diplo, and Zoë Kravitz, made appearances. Coach aims to capitalize on this young star influence to attract a new generation of customers. The recent signing of Gomez represents yet another significant move in that direction.

Earnings from Instagram

Selena has held the title of the most-followed person on Instagram for many years, amassing over 420 million followers today.

Estimates suggest that each Instagram post made by Selena has a value of around $3.5 million for the brands featured. For a single sponsored post, her earnings range from $500,000 to $800,000. Through her various ventures, mainly involving Coach, Puma, and Instagram, Selena rakes in $10 to $15 million annually. While this is indeed an impressive sum, it falls just short of securing her a spot among the 100 highest-paid celebrities globally. It seems that Ms. Gomez might prefer to maintain a low profile.

Personal Life

Selena briefly dated Nick Jonas back in 2008 and has also been in a highly publicized on-again, off-again relationship with fellow pop star Justin Bieber. Their relationship was said to be so challenging for Selena that it led to her entering a rehabilitation facility. The couple had a serious relationship for two years, from December 2010 to November 2012, before breaking up and reconciling multiple times over the years, repeating this cycle in 2013, 2014, 2015, and 2017 before finally parting ways in March 2018. Gomez also had a relationship with The Weeknd from January 2017 to October 2017, which inspired references in The Weeknd’s album “My Dear Melancholy,” released in March 2018.

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

Most recently, in December 2023, Selena made it known that she is dating producer Benny Blanco.

Philanthropy

Selena is deeply engaged in philanthropy, dedicating numerous hours to various causes. She collaborates closelywith UNICEF and currently serves as the ambassador for the organization’s trick-or-treat fundraising initiative. In 2009, Gomez visited Ghana for a week to see the dire conditions that impoverished children faced, lacking essentials like clean water and food. She leveraged her celebrity status through UNICEF to raise awareness about the situation in Ghana. Additionally, she traveled to Chile to connect with families involved in UNICEF’s Programa Puente program, which assists families in acquiring parenting skills.

As the ambassador for Do.Something.org, Gomez is also active in the charity RAISE Hope for Congo. In 2012, she was appointed as an ambassador for the Ryan Seacrest Foundation. She frequently makes appearances at children’s hospitals and has served as a spokesperson for State Farm Insurance, featuring in multiple commercials aimed at promoting safe driving, particularly airing on Disney.

Health Issues

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

Selena Gomez Net Worth Milestones

Selena was first listed on CelebrityNetWorth in December 2009 with a net worth amounting to $1 million. At that age of 17, she was earning $30,000 per episode for “Wizards of Waverly Place,” accumulating just over $3 million from the show. By 2011, her net worth had risen to over $5 million, and in April 2013, she surpassed the $10 million mark following the release of her debut solo album. In 2015, her net worth exceeded $18 million, largely due to Instagram. With income from various sources, including deals with Puma and Coach, album sales, singles, and her acting career, her net worth reached over $60 million by mid-2018. By 2019, it was estimated at $75 million, and thanks to Rare Beauty, her net worth was assessed at $800 million in July 2023. In September 2024, Selena officially achieved billionaire status.

Real Estate

Over the years, Selena has owned multiple properties.

In July 2011, she purchased a residence in Tarzana, California for $2.175 million. The 4,500-square-foot home sits on an acre of land and was formerly owned by Jonah Hill, a rising star. It is a single-story home featuring five bedrooms and five bathrooms, offering a spacious eat-in kitchen, an office area, high ceilings, abundant sunlight, and elegant hardwood flooring. 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, ultimately selling it for $3.45 million in October 2014.

In 2014, she acquired a large residence in a Calabasas gated community for $3.69 million, situated on 3.15 acres. Initially, she attempted to sell the house for $4.495 million but ended up taking a small loss on the sale. The property was purchased by rapper French Montana, who put it on the market in February 2020.

The home was purchased for $6.6 million. Check out the video tour of this residence:

In 2015, an undisclosed amount was spent by her to acquire a sizable home in Fort Worth, Texas. In both 2016 and 2017, she listed that property for $3.499 million and re-listed it in 2018 at $2.999 million. This house was sold in October 2020 for $2.4 million.

In 2017, she bought a relatively modest home in Studio City, California, for $2.249 million, unusual considering her financial standing. The following year, it was listed for sale at $2.799 million, eventually selling for $2.3 million.

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