Selena Gomez's Net Worth Skyrockets To $1 Billion In 2024

Selena Gomez's Net Worth Skyrockets To $1 Billion In 2024.

What Is Selena Gomez's Net Worth and Salary?

Selena Gomez is a multi-talented American singer, actress, producer, songwriter, and social media sensation with a staggering net worth of $1 billion. Most of her wealth comes from her incredibly successful makeup brand, Rare Beauty, which we'll dive into in the next section.

Starting out as a child actress on "Barney & Friends," Selena has grown into one of the biggest names in the entertainment industry. Unlike some of her fellow Disney stars, she has managed to keep her life relatively drama-free. While others like Lindsay Lohan and Demi Lovato faced their share of challenges, Selena has navigated fame, a hectic schedule, and a high-profile relationship with Justin Bieber with impressive grace.

She kicked off her acting career at just seven years old on "Barney & Friends" and later landed a recurring role on "Hannah Montana" during its second and third seasons. In 2007, she became one of the leads in the hit show "Wizards of Waverly Place." From there, she starred in movies like "Another Cinderella Story," "Princess Protection Program," and "Ramona and Beezus." Nowadays, she's a highly sought-after actress and brand ambassador.

In 2021, she took on a role in the Hulu series "Only Murders in the Building," sharing the screen with legends Steve Martin and Martin Short.

Selena Gomez kicked off a thriving music career and dropped three studio albums with her band, Selena Gomez & The Scene, all of which went Gold.

On social media, she's a massive star and one of the top earners for endorsements globally. Right now, she boasts over 58 million followers on TikTok and more than 420 million on Instagram, making her the first woman to reach that 400 million milestone. Her YouTube channel has racked up over 33 million subscribers and nearly 13 billion views.

When she's not busy with music, acting, or rehearsing, she dedicates time as a UNICEF Goodwill Ambassador.

Gomez also invested in the ice cream brand Serendipity and launched her makeup line, Rare Beauty, in September. Plus, she co-founded the mental health platform "Wondermind" and is an investor in the food delivery service Gopuff.

Rare Beauty & Other Investments

Selena isn't just a talented actress and singer; she's also made a name for herself as a savvy investor and entrepreneur.

In 2020, she jumped into the ice cream business as an investor and co-owner of Serendipity, a brand that's all about sweet treats.

On top of that, she co-founded a mental health startup called Wondermind. Back in August 2022, Wondermind secured $5 million in funding, reaching a valuation of $100 million. The round was led by Serena Williams' venture fund, Serena Ventures, along with Lightspeed Venture Partners and Sequoia Capital. Wondermind focuses on "mental fitness" and offers a variety of content, including social media channels, a newsletter, and a podcast.

But the biggest contributor to Selena's wealth is her makeup line, Rare Beauty. Launched in September 2020 with a special release at Sephora, Rare Beauty has taken off.

In 2022, the brand raked in over $100 million in revenue, and estimates suggest it could have made around $350 million in 2023. If we use a conservative revenue multiple of 4x, that puts Rare Beauty's value at a minimum of $1.4 billion. Rumor has it that in early 2024, Selena was looking at a $2 billion buyout offer, and she holds a 51% stake in the company.

Rare Beauty has hit the mark by offering reasonably priced, user-friendly products like lip liners, liquid blushes, and liquid foundations. Most items are priced between $5 and $30.

On top of that, Rare Beauty gives 1% of all sales to its own charity fund, which has already brought in over $5 million, thanks in part to donor events.

LATEST: Selena Gomez Engaged to Benny Blanco, Shows Off Stunning Diamond Ring.

Early Life

Selena Gomez, whose full name is Selena Marie Gomez, came into the world on July 22, 1992, in Grand Prairie, Texas. She’s the daughter of Ricardo Joel Gomez and Amanda Dawn (Mandy) Cornett, a former stage actress. Her mom was only sixteen when she had Selena. The name Selena was inspired by the famous singer Selena Quintanilla-Perez. When Selena was five, her parents split up, and she stayed with her mom, who faced financial challenges while raising her. Selena completed her high school education through homeschooling, graduating in May 2010.

Early Career

Selena's first big break on TV was in "Barney and Friends," where she played Gianna from 2002 to 2004, showing up in 14 episodes. She shared the screen with Demi Lovato during her time on the show. In 2003, she also had a small part in "Spy Kids 3-D: Game Over" and was in the TV movie "Walker, Texas Ranger: Trial by Fire" in 2005. Then in 2006, she made a guest appearance on Disney's "The Suite Life of Zack & Cody." By 2007, she landed a recurring role on the hit show "Hannah Montana," where she played a pop star.

Acting Career

Selena really made a name for herself with her role in "Wizards of Waverly Place," which ran for 106 episodes between 2007 and 2012. There were also two movies based on the show. For each episode, she earned $30,000, which is pretty impressive! Besides the series, she’s been in a bunch of movies and just started her own production company called July Moon Productions.

Music and Other Ventures

Selena landed a record deal with Hollywood Records at just 16, the same label that had already brought on Miley Cyrus and Demi Lovato. Since then, she’s dropped three studio albums, two EPs, and a compilation album. Plus, she was the frontwoman for the band Selena Gomez and the Scene, which released three studio albums and a remix album. She’s also hit the road for two solo tours and toured three times with her old band.

In September 2017, it came out that Selena had signed a two-year endorsement deal worth $30 million with Puma, making her the brand's new face alongside Rihanna. On top of that, she’s an executive producer for the Netflix series "13 Reasons Why" and "Living Undocumented."

$30 Million Puma Deal

Since September 2017, Selena has been the face of Puma's activewear line, thanks to a two-year deal worth $30 million. She shared the news on Instagram with a pic of herself in Puma gear, captioning it, "Officially a part of the fam @puma #pumapartner."

Gomez stated in a press release that the upcoming collaboration with Puma was "very exciting." The press release went on to say, "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."

Adam Petrick, Global Director for Brand and Marketing for PUMA, said the following, "Selena is authentic, creative, talented, and fearlessly real. She is everything that today's female consumer is looking for in a role model … In recent days, she has demonstrated just how strong she truly is. With her honesty and openness about living with Lupus, she has provided an incredible example of confidence, poise, and determination for all of us. Selena is a perfect partner for PUMA because she is not afraid of the challenges our world can offer; she fights and perseveres, which is exactly what PUMA is all about. She will not only represent our brand, but she will help to define and enhance our women's business."

Gomez will make her debut for Puma in the brand's new campaign featuring the Phenom, which is one of their latest women's shoe collections.

$10 Million Coach Deal

In December 2016, Gomez landed a $10 million endorsement deal with Coach, a bag company. At just 24, Selena became the brand's new face and got the chance to design her own line. Coach was eager to attract a younger audience, and they figured Selena, being the most followed person on Instagram at the time, would help them connect with that demographic while still appealing to their older customers.

Stuart Vevers, the creative director at Coach, mentioned that the brand is embracing a "new day at Coach." He shared his thoughts in an interview with British Vogue: "When I first joined, I used our history as a touchstone, so it was for me to discover the things that would be believable at Coach … I felt it was important to be bold and look forward and explore what the next generation wants from luxury and fashion."

The 75-year-old brand, often seen as a "heritage" label for the older crowd, is really trying to connect with a younger audience. At Coach's recent 75th anniversary bash, they had a bunch of young celebs show up, including Michael B. Jordan, Diplo, and Zoë Kravitz. Coach is looking to leverage this youthful star power to attract a new wave of customers. Signing Gomez is just another move in that direction.

Instagram Earnings

Selena was the queen of Instagram for a long time, racking up over 420 million followers today.

It's been estimated that each post she shares can bring in around $3.5 million for the brands she partners with. She typically earns between $500,000 and $800,000 for just one sponsored post. With her various projects, especially with brands like Coach and Puma, Selena pulls in about $10-15 million a year. That's a seriously impressive figure, but it still doesn't quite land her in the top 100 highest-paid celebs globally. Maybe she just likes to keep things a bit more low-key.

Personal Life

In 2008, Selena had a short fling with Nick Jonas. She’s also known for her ups and downs with Justin Bieber, another pop star. Their relationship was so intense that Selena ended up needing rehab. They were seriously together for two years, from December 2010 to November 2012, then split, only to get back together. This back-and-forth happened again in 2013, 2014, 2015, and 2017, with their final breakup reported in March 2018. Selena also dated The Weeknd from January to October 2017, and his album "My Dear Melancholy," which dropped in March 2018, has some lines that hint at their time together.

Selena has called Taylor Swift her "only" friend in the music biz.

In December 2023, Selena shared that she’s dating producer Benny Blanco, they later got engaged in December 2024.

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Philanthropy

Selena is super dedicated to philanthropy, putting in tons of hours for various causes. She's a close partner with UNICEF and currently serves as their ambassador for the trick-or-treat fundraising initiative. Back in 2009, she took a week-long trip to Ghana to see the tough living conditions faced by kids who were missing basic needs like clean water and food. Using her fame, she highlighted the situation in Ghana through UNICEF. She also visited Chile to connect with families involved in UNICEF's Programa Puente, which helps parents gain the skills they need to raise their kids.

On top of that, Gomez is the ambassador for DoSomething.org and supports the charity RAISE Hope for Congo. In 2012, she became the ambassador for the Ryan Seacrest Foundation. She's well-known for her regular visits to children's hospitals. Additionally, Selena has been a spokesperson for State Farm Insurance and starred in several Disney commercials aimed at promoting safe driving.

Health Issues

Selena found out she had Lupus back in 2014. In September 2017, she got a kidney transplant from her friend and fellow actress Francia Raisa, who you might know from "The Secret Life of the American Teenager." Then in April 2020, it came to light that she was diagnosed with Bipolar Disorder. Fast forward to November 2022, and she shared that she experienced a psychotic episode in 2018.

Selena Gomez Net Worth Milestones

Selena’s net worth was first calculated in December 2009, boasting a net worth of $1 million at just 17 years old. Back then, she was pulling in $30,000 per episode for "Wizards of Waverly Place," racking up over $3 million from the show. By 2011, her net worth had already climbed to over $5 million. She hit the $10 million mark in April 2013 after dropping her first solo album.

By 2015, her net worth soared past $18 million, thanks in part to her Instagram presence. With lucrative deals from Puma and Coach, along with album sales, singles, and her acting gigs, her net worth skyrocketed to over $60 million by mid-2018. By 2019, Selena Gomez's net worth reached $75 million. Fast forward to July 2023, and thanks to Rare Beauty, her estimated net worth jumped to $800 million. By September 2024, she officially became a billionaire.

Real Estate

Selena has had quite a few homes over the years.

Back in July 2011, she dropped $2.175 million on a place in Tarzana, California. This spacious 4,500-square-foot pad sits on an acre and was once owned by Jonah Hill. It's a single-story home with five bedrooms and five bathrooms. Inside, you’ll find a big eat-in kitchen, an office, high ceilings, tons of natural light, and gorgeous hardwood floors. The backyard is pretty sweet too, featuring a spa, a pool, a tennis court, and even a bocce ball court. She put this house on the market in May 2014 for $3.495 million and ended up selling it for $3.45 million in October 2014.

In 2014, she snagged a big house in a gated community in Calabasas for $3.69 million, sitting on 3.15 acres. At one point, she tried to sell it for $4.495 million but ended up taking a bit of a hit. The new owner turned out to be rapper French Montana, who listed it for $6.6 million in February 2020.

In 2015, she bought a huge house in Fort Worth, Texas, but the exact amount she spent isn’t recorded. She put it on the market for $3.499 million in both 2016 and 2017, then dropped the price to $2.999 million in 2018. Eventually, she sold it in October 2020 for $2.4 million.

In 2017, she picked up a more modest home in Studio City, California, for $2.249 million, which is pretty low-key considering her wealth. She listed it for $2.799 million a year later, and it ended up selling for $2.3 million.

Then in April 2020, Selena bought an 11,500-square-foot pad in Encino, California, for $4.9 million. This place was custom-built by Tom Petty in the late '80s and was given to his ex-wife after their divorce in 1996. She lost it to foreclosure in 2015, and Selena snagged it from a non-celebrity who had it for less than a year, making a $400,000 profit on the sale.

Selena Gomez's journey from a child star to a billionaire entrepreneur is nothing short of inspiring. Her remarkable success across multiple industries, including acting, music, and business, showcases her immense talent, resilience, and entrepreneurial spirit. With Rare Beauty's soaring success, her impactful investments, and dedication to philanthropy, Selena continues to make a lasting impact on the world.

Despite facing personal and health challenges, she has remained an empowering role model, proving that with hard work, creativity, and determination, anything is possible. Selena Gomez’s story is a testament to the power of perseverance and staying true to oneself.