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 an American singer, actress, producer, songwriter, and social media sensation. In the following section of this article, we will elaborate on how her highly successful makeup brand, Rare Beauty, significantly contributes to her wealth.

Selena Gomez’s career started as a child actress, initially appearing in “Barney & Friends.” Since then, she has become one of the world’s foremost stars. Compared to her Disney peers, Gomez has managed to lead a relatively drama-free life. In contrast to Lindsay Lohan, Amanda Bynes, Britney Spears, and Demi Lovato, Ms. Gomez has exhibited remarkable composure in navigating fame, a hectic schedule, a high-profile relationship with Justin Bieber, and various Disney-related challenges.

Beginning her professional acting career at the age of seven on “Barney & Friends,” she later secured a recurring role on the Disney Channel during Seasons 2 and 3 of “Hannah Montana.” In 2007, Gomez became one of the main characters on the beloved series “Wizards of Waverly Place.” Following that, she appeared in films like “Another Cinderella Story,” “Princess Protection Program,” and “Ramona and Beezus.” Currently, she is a highly sought-after actress and brand ambassador, and in 2021, she stars in the Hulu series “Only Murders in the Building” alongside Steve Martin and Martin Short.

Her music career has also thrived, with three studio albums released as part of Selena Gomez & The Scene, all achieving Gold status.

Being a massive social media influencer, Selena Gomez ranks as one of the highest-paid endorsers globally. At present, 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 mark on the platform. Her YouTube channel has attracted over 33 million subscribers and has garnered nearly 13 billion views.

In addition to her artistic endeavors, she serves as a UNICEF Goodwill Ambassador during her downtime from recording, performing, filming, or rehearsing.

Notably, Gomez has invested in the ice cream brand Serendipity and launched her makeup line, Rare Beauty, in September. She co-founded the mental health platform “Wondermind” and is an investor in Gopuff, a food delivery service.

Rare Beauty & Other Investments

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

In 2020, she co-owns the ice cream brand Serendipity as an investor.

Selena co-founded Wondermind, a mental health startup that raised $5 million at a $100 million valuation in August 2022. The investment round was led by Serena Ventures, in collaboration with Lightspeed Venture Partners and Sequoia Capital. Wondermind is described as a “mental fitness” brand, producing social media content, newsletters, podcasts, and more.

Most significantly influencing her net worth is her establishment of Rare Beauty, a makeup brand launched in September 2020 through an exclusive Sephora drop. Achieving substantial success, Rare Beauty generated upwards of $100 million in revenue by 2022, with an estimated $350 million in 2023. Applying a conservative revenue multiple of 4x, Rare Beauty may currently hold a valuation of at least $1.4 billion. Reports suggest Selena is contemplating a $2 billion acquisition offer set for early 2024, with her ownership stake at 51%.

Rare Beauty targets success with moderately-priced, accessible, and user-friendly products, including liquid blush, liquid foundation, and lip liner, typically ranging from $5 to $30.

The brand commits 1% of its sales to its philanthropic fund, which has successfully raised over $5 million through various donor events.

Early Life

Born as Selena Marie Gomez on July 22, 1992, in Grand Prairie, Texas, her parents are Ricardo Joel Gomez and former stage actress Amanda Dawn (Mandy) Cornett. Having just turned sixteen when Selena was born, her mother faced financial struggles after their divorce when Selena was five, which led Gomez to live with her mother. Selena obtained her high school diploma through homeschooling, graduating in May 2010.

Early Career

She gained early television fame through her role as Gianna on “Barney and Friends,” which aired from 2002 to 2004, appearing in 14 episodes. During her time on “Barney,” she shared the screen with fellow actor Demi Lovato. Additionally, she had a cameo in the 2003 film “Spy Kids 3-D: Game Over” and participated in the 2005 made-for-TV movie “Walker, Texas Ranger: Trial by Fire.” In 2006, she made a guest appearance on Disney’s “The Suite Life of Zack & Cody” and participated in a recurring role as a pop star in Disney’s “Hannah Montana” in 2007.

Acting Career

Selena’s breakout role came with “Wizards of Waverly Place,” where she starred in 106 episodes from 2007 to 2012, with two movies based on the series. For each episode of “Wizards of Waverly Place,” Selena earned $30,000. She has also appeared in numerous films and has launched 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 had previously signed Miley Cyrus and Demi Lovato. Throughout her career, she has released 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 one remix album. Additionally, Selena went on two solo tours and three tours with her previous band.

In September 2017, Selena entered into a two-year, $30 million endorsement agreement with Puma, becoming the brand’s new face alongside Rihanna. She also serves as an executive producer for the Netflix series “13 Reasons Why” and “Living Undocumented.”

$30 Million Puma Deal

Previously mentioned, Selena has represented the activewear company Puma since September 2017. This two-year partnership provided a total payment of $30 million. Via Instagram, Selena shared the news by posting a picture of herself in Puma attire, captioned, “Officially a part of the fam @puma #pumapartner.”

In a press release, Gomez expressed that her collaboration with Puma was “very exciting.” The press release continued, saying, “Puma has changed the game when it comes to merging athletic wear and fashion … It’s amazing to see this influence on style and culture, and I’m eager to be a part of it. I hope we can create something special together. We already have several cool projects underway.”

Adam Petrick, PUMA’s Global Director for Brand and Marketing, remarked, “Selena is authentic, creative, talented, and fearlessly real. She embodies qualities that today’s female consumers seek in role models… Recently, she has shown just how strong she truly is. With her candidness about living with Lupus, she has provided an inspiring example of confidence, poise, and determination for all of us. Selena is a perfect partner for PUMA as she is unafraid of the challenges our world presents; she fights and perseveres, which is the essence of PUMA. She will not only represent our brand but also help to define and elevate our women’s sector.”

Gomez’s inaugural appearance for Puma will feature in the brand’s latest campaign for the Phenom, one of Puma’s new women’s footwear lines.

$10 Million Coach Deal

In December 2016, Gomez entered a $10 million endorsement agreement with Coach, a handbag manufacturer. At that time, Selena was 24 years old. Not only did she become the face of the brand, but this deal also enabled her to develop her own line for Coach, aiming to expand its customer base. The brand anticipated that Selena, who was the most followed individual on Instagram, would attract younger consumers while still appealing to their existing mature clientele.

Stuart Vevers, the creative director of Coach, mentioned the brand is experiencing a “new day at Coach.” He shared in an interview with British Vogue, “When I first joined, I drew upon our history as a reference point, so it was imperative for me to discover what would be believable at Coach… I deemed it significant to be bold and look forward, exploring what the next generation desires from luxury and fashion.”

Consequently, the 75-year-old brand, often viewed as a “heritage” label for older customers, has been diligently striving to connect with a younger audience. During Coach’s recent 75th anniversary celebration, several young stars, including Michael B. Jordan, Diplo, and Zoë Kravitz, made notable appearances. Coach intends to leverage this young star power to cultivate a new generation of customers. The signing of Gomez represents yet another stride in that direction.

Earnings from Instagram

For many years, Selena held the title of the most-followed person on Instagram, currently boasting over 420 million followers.

It is estimated that a single Instagram post from Selena carries a value of $3.5 million for the brand that sponsors it. She has been reported to earn between $500,000 and $800,000 for one sponsored post. With her various ventures, primarily Coach, Puma, and Instagram, Selena’s earnings range from $10-15 million annually. While this is undeniably impressive, it’s just shy of placing her among the top 100 highest-paid celebrities globally. Perhaps Ms. Gomez opts for a more low-key lifestyle.

Personal Life

Selena dated Nick Jonas briefly in 2008. She is also recognized for her tumultuous on-again-off-again romance with pop star Justin Bieber. Reports indicated that the stress from their relationship led Selena to seek treatment in a rehabilitation facility. They experienced a serious relationship lasting from December 2010 to November 2012, then separated, only to reunite again. This cycle recurred in 2013, 2014, 2015, and 2017, with reports indicating they finalized their breakup in March 2018. Gomez was in a relationship with The Weeknd from January 2017 until October 2017. References to Gomez appear several times in The Weeknd’s album “My Dear Melancholy,” released in March 2018.
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In the industry, Selena Gomez has called Taylor Swift her “only” friend.

In December 2023, it became known that Selena was in a relationship with producer Benny Blanco.

Philanthropy

Actively participating as a philanthropist, Selena dedicates many hours to various causes. She collaborates closely with UNICEF and serves as the ambassador for the trick-or-treat fundraising initiative. In 2009, she spent a week in Ghana to observe the dire living conditions of underprivileged children lacking basic needs such as clean water and food. Leveraging her celebrity status through UNICEF, Gomez aimed to raise awareness about the situation in Ghana. Additionally, she traveled to Chile to connect with the families involved in UNICEF’s Programa Puente, which assists families in developing necessary parenting skills.

As the ambassador for Do.Something.org, Gomez is also active with the charity RAISE Hope for Congo. In 2012, the Ryan Seacrest Foundation honored her with an ambassadorship. She is recognized for making numerous visits to children’s hospitals. Selena has also served as a spokesperson for State Farm Insurance, featuring in various commercials on Disney that aimed to promote safe driving awareness.

Health Issues

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

Selena Gomez Net Worth Milestones

In December 2009, Selena was featured on CelebrityNetWorth with a net worth of $1 million at just 17 years old, earning $30,000 per episode of “Wizards of Waverly Place.” Overall, she made over $3 million through the series. By 2011, her net worth had surpassed $5 million. Following the release of her debut solo album in April 2013, she crossed the $10 million mark. In 2015, her net worth increased to over $18 million, largely attributed to her efforts on Instagram. By mid-2018, her net worth soared to over $60 million due to various ventures, including her Puma and Coach deals, album sales, numerous singles, and her acting career. By 2019, her net worth reached $75 million. As of July 2023, after the success of Rare Beauty, estimates placed her net worth at $800 million. By September 2024, Selena officially attained billionaire status.

Real Estate

Throughout the years, Selena has owned multiple properties.

In July 2011, she purchased a home in Tarzana, California, for $2.175 million. Spanning 4,500 square feet and situated on an acre of land, it was formerly owned by rising star Jonah Hill. The single-story residence features five bedrooms and five bathrooms, along with a spacious eat-in kitchen, an office space, high ceilings, abundant sunlight, and stunning hardwood floors. The backyard includes a spa, pool, tennis court, and bocce ball court. She listed this property for sale in May 2014 for $3.495 million, ultimately selling it for $3.45 million in October 2014.

In 2014, Selena acquired a large home on 3.15 acres in a gated community in Calabasas for $3.69 million. Although she attempted to sell the house for $4.495 million, she ultimately incurred a slight loss when rapper French Montana purchased it. He later listed the home in February 2020 for $6.6 million. A video tour of that residence is available below:

In 2015, she bought a large home in Fort Worth, Texas for an undisclosed amount. She listed this property for sale at $3.499 million in 2016 and 2017, and again in 2018 for $2.999 million. Ultimately, she sold it in October 2020 for $2.4 million.

In 2017, she spent $2.249 million on a relatively modest home in Studio City, California, considering her wealth. She listed this property for sale a year later at $2.799 million, ultimately selling it 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 was later handed over to his ex-wife after their divorce in 1996. Following foreclosure in 2015, Selena acquired the house shortly after it was sold by a non-celebrity who had owned it for less than a year, making a $400,000 profit on that transaction.