What Is Selena Gomez's Net Worth and Salary?
Selena Gomez is an American singer, actress, producer, songwriter, and social media mega-star who has a net worth of $1 billion. As we detail in the next section of this article, the vast majority of Selena Gomez's net worth comes thanks to her highly successful makeup company, Rare Beauty.
Selena Gomez began her career as a child actress on shows like "Barney & Friends" and has since gone on to become one of the biggest stars in the world. Selena Gomez has managed to remain relatively drama-free in comparison to some of her Disney-starlet counterparts. Unlike Lindsay Lohan, Amanda Bynes, Britney Spears, and Demi Lovato, Ms. Gomez has seemed to handle fame, a busy schedule, a high-profile romance with Justin Bieber, and all things Disney with a surprising amount of equanimity.
The singer/actor/dancer began acting professionally at age seven on "Barney & Friends" and then began working for the Disney Channel in a recurring role on Seasons 2 and 3 of "Hannah Montana." In 2007, she was cast as one of the leads on the popular series "Wizards of Waverly Place." From there, she went on to appear in such films as "Another Cinderella Story," "Princess Protection Program," and "Ramona and Beezus." Today, she is a highly sought-after actress and endorser. In 2021, Selena began starring in the Hulu series "Only Murders in the Building" alongside Steve Martin and Martin Short.
She also launched a successful music career, and has released three studio albums as part of Selena Gomez & The Scene. All three albums have achieved Gold status.
Selena Gomez is one of the most popular figures on social media and, therefore, one of the highest-paid endorsers in the world. As of this writing, she has more than 58 million followers on TikTok and more than 420 million followers on Instagram, becoming the first woman to hit the 400 million benchmark on the platform. Her YouTube channel has more than 33 million subscribers and has generated nearly 13 billion views.
When she is not recording, performing, shooting a project, or rehearsing, she is also a UNICEF Goodwill Ambassador.
Gomez became an owner and investor in the ice cream brand Serendipity. In September, she launched the makeup line Rare Beauty. She also co-founded the mental health platform "Wondermind" and is an investor in food delivery company Gopuff.
Rare Beauty & Other Investments
Outside of her acting and singing career, Selena is a highly successful investor and entrepreneur.
In 2020, she became an investor and co-owner of the ice cream brand Serendipity.
Selena is the co-founder of a mental health startup called Wondermind. In August 2022, Wondermind raised $5 million at a $100 million valuation. Serena Williams' venture fund, Serena Ventures, led the round alongside Lightspeed Venture Partners and Sequoia Capital. Wonderkind, which positions itself as a "mental fitness" company, produces social media channels, web content, a newsletter, a podcast, and more.
Most importantly for Selena's net worth, she is the founder of makeup company Rare Beauty. Selena launched Rare Beauty in September 2020 with an exclusive drop at Sephora. Rare Beauty has been an enormous success. In 2022, the company generated at least $100 million in revenue. Rare Beauty generated an unconfirmed $350 million in 2023. Using a conservative 4x revenue multiple and assuming $350 million is accurate, Rare Beauty is worth at least $1.4 billion today. In early 2024, Selena was reportedly considering a $2 billion acquisition offer. It's understood that she owns 51% of the brand.
Rare Beauty has found success by focusing on moderately priced, accessible, and easy-to-use products such as lip liner, liquid blush, and liquid foundation. Most products cost between $5 and $30.
Rare Beauty donates 1% of all sales to its own philanthropic fund. To date, the fund has already raised over $5 million, including from donor events.
Early Life
Selena Gomez was born 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. Her mother was just sixteen when Selena was born. Gomez was named after popular singer Selena Quintanilla-Perez. Her parents divorced when she was five years old, and Selena remained with her mother. They had trouble with money as her mother struggled to provide for them. Selena got her high school diploma through homeschooling in May 2010.
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Early Career
One of her earliest television roles was on the show "Barney and Friends" from 2002 to 2004. Selena played the role of Gianna on the show and appeared in 14 episodes. She appeared in "Barney" alongside fellow actor Demi Lovato. She also had a cameo role around this time 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. Selena made a guest appearance in "The Suite Life of Zack & Cody" on Disney in 2006. She also appeared in a recurring role in Disney's popular "Hannah Montana" in 2007, portraying a pop star.
Acting Career
Her breakout TV role was the show "Wizards of Waverly Place," which aired 106 episodes from 2007 to 2012. There have also been two "Wizards of Waverly Place" movies. For her work on "Wizards of Waverly Place," Selena was paid $30,000 per episode. She has also appeared in several films and recently launched her own production company, July Moon Productions.
Music and Other Ventures
Selena was signed at 16 years old to Hollywood Records, the same label that had already signed Miley Cyrus and Demi Lovato. She has released three studio albums, two EPs, and one compilation album. Gomez was also the lead singer of the band Selena Gomez and the Scene. They released three studio albums and one remix album. She has done two solo tours and three tours with her former band.
In September 2017, it was revealed that Selena had signed a two-year, $30 million endorsement deal with the shoe company Puma. The deal makes Selena the new face of Puma alongside Rihanna. She is an executive producer of the Netflix series "13 Reasons Why" and "Living Undocumented."
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$30 Million Puma Deal
As we mentioned previously, as of September 2017, Selena is the face of activewear company Puma. The two-year deal paid a total of $30 million. Selena announced the deal via Instagram by posting a photo of herself wearing Puma gear and the caption, "Officially a part of the fam @puma #pumapartner."
In a press release, Gomez stated 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's first appearance for Puma will be in the brand's latest campaign for the Phenom, one of Puma's latest women's footwear lines.
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$10 Million Coach Deal
In December 2016, Gomez signed a $10 million endorsement deal with bag maker Coach. At the time, Selena was 24 years old. Not only did she become the new face of the brand, but the deal allowed Gomez to create her own line for Coach, which had been looking to broaden its customers. The brand hoped that Selena, who at the time was the most followed person on Instagram, would help bring in younger customers, all while staying in tune with their mature customer base.
Stuart Vevers, the creative director of Coach, says that the entire brand is looking towards a "new day at Coach." In an interview with British Vogue, he said the following: "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."
As a result, the 75-year-old brand, which is looked at as a "heritage" brand for older people by some, has been making a concerted effort to speak to a younger audience. At Coach's recent 75th anniversary celebration, a number of young stars made appearances, such as Michael B. Jordan, Diplo, and Zoë Kravitz. Coach hopes to parlay this young star power in the form of a new generation of Coach customers. The Gomez signing is yet another step in that direction.
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Earnings from Instagram
For many years Selena was the most-followed person on Instagram. Today, she has over 420 million followers.
It has been estimated that the value of a single Instagram post from Selena is worth $3.5 million to the brand paying for the post. She has been known to earn anywhere from $500,000 to $800,000 for a single sponsored post. Between her various endeavors, primarily Coach, Puma, and Instagram, Selena makes $10-15 million per year. A very, very impressive amount, but not quite enough to make her one of the 100 highest-paid celebrities in the world. Perhaps Ms. Gomez prefers to stay low-key.
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Personal Life
In 2008, Selena briefly dated Nick Jonas. She is also notable for having a controversial on-again-off-again relationship with fellow pop star Justin Bieber. Their relationship was reportedly so stressful for Selena that she was forced to enter a rehabilitation facility. The two dated seriously for two years, from December 2010 to November 2012, then broke up, then got back together again. They repeated this cycle in 2013, 2014, 2015, and 2017. They are reported to have broken up for good in March 2018. Gomez dated The Weeknd from January 2017 to October 2017. The Weeknd's album "My Dear Melancholy," released in March 2018, makes several references to Gomez.
Selena Gomez has referred to Taylor Swift as her "only" friend in the industry.
In December 2023, Selena revealed she was dating producer Benny Blanco.
Philanthropy
Selena is a very active philanthropist who volunteers many hours for a wide variety of causes. She works closely with UNICEF and is currently the organization's ambassador to the trick-or-treat fundraising program. Gomez traveled to Ghana for a week in 2009 to witness first-hand the grave conditions of impoverished children who lacked necessities like clean water and nourishment. She used her star power through UNICEF to bring awareness to Ghana. She also traveled to Chile to meet the families of UNICEF's Programa Puente program, which helps families develop the skills needed for raising children.
Gomez is the ambassador of Do.Something.org and is also involved with the charity RAISE Hope for Congo. In 2012, she was named ambassador of the Ryan Seacrest Foundation. She is known for making frequent appearances at children's hospitals. Selena also worked as a spokesperson for State Farm Insurance and appeared in several commercials that aired on Disney with the goal of raising awareness of safe driving.
Health Issues
Selena was diagnosed with Lupus in 2014. She received a kidney transplant from friend and fellow actress Francia Raisa (of "The Secret Life of the American Teenager" fame) in September 2017. In April 2020, it was revealed that Selena was diagnosed with Bipolar Disorder. In November 2022, she announced she had an episode of psychosis back in 2018.
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Selena Gomez Net Worth Milestones
Selena was added to CelebrityNetWorth in December 2009 with a net worth of $1 million. At the time, she was 17 years old and was earning $30,000 per episode of "Wizards of Waverly Place." She earned just over $3 million for her work on the show. By 2011, her net worth topped $5 million. She broke $10 million in net worth in April 2013 after releasing her debut solo album. She topped $18 million in 2015, thanks largely to Instagram. Thanks to the Puma deal, Coach deal, album sales, countless singles, acting career, and more, her net worth topped $60 million in mid-2018. By 2019, Selena Gomez's net worth was $75 million. In July 2023, thanks to Rare Beauty, we estimated her net worth at $800 million. In September 2024, Selena officially became a billionaire.
Real Estate
Selena has owned a number of homes throughout the years.
In July 2011, Selena paid $2.175 million for a home in Tarzana, California. The 4,500-square-foot home sits on an acre of land and was previously owned by rising star Jonah Hill. It is one story and has five bedrooms and five bathrooms. The home features a large eat-in kitchen, an office space, high ceilings, lots of sunlight, and beautiful hardwood floors. There is a spa in the backyard, along with a pool, a tennis court, and a bocce ball court. She listed this home for sale in May 2014 for $3.495 million, ultimately selling it for $3.45 million in October 2014.
In 2014, she paid $3.69 million to acquire a large house on 3.15 acres in a Calabasas gated community. She, at one point, tried to sell this house for $4.495 million but ultimately took a small loss. The buyer was rapper French Montana, who listed the home in February 2020 for $6.6 million. Here is a video tour of that home:
In 2015, she spent an unrecorded amount to buy a very large home in Fort Worth, Texas. She listed that house for $3.499 million in 2016 and 2017 and then listed it again in 2018 for $2.999 million. She sold this property in October 2020 for $2.4 million.
In 2017, she spent $2.249 million to acquire a relatively modest (for someone with her wealth) home in Studio City, California. She listed it for sale a year later for $2.799 million, and it sold for $2.3 million.
In April 2020, Selena paid $4.9 million for an 11,500-square-foot home in Encino, California. Tom Petty custom-built the home in the late 1980s and then gave it over to his ex-wife when they divorced in 1996. Tom's ex-wife lost the home to foreclosure in 2015. Selena purchased the home from a non-celebrity who owned it for less than a year and made a $400,000 profit on the sale.
