What Is Selena Gomez’s Net Worth and Salary?
Salena Gomez Net Worth: Selena Gomez is an American singer, actress, producer, songwriter, and social media megastar worth $800 million. As we detail in the next section of this article, the vast majority of her net worth comes from her booming makeup company, Rare Beauty.
Selena Gomez began her career as a child actress on shows like “Barney & Friends” and has since become one of the biggest stars in the world. She has remained relatively drama-free compared to some of her Disney star counterparts.
Unlike Lindsay Lohan, Amanda Bynes, Britney Spears, and Demi Lovato, Gomez seems to have handled fame, a busy schedule, a high-profile romance with Justin Bieber, and Disney with surprising serenity.
The singer, actress, and dancer began acting professionally at seven on “Barney & Friends,” 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 in the popular series “Wizards of Waverly Place.
” From there, she appeared in films such as “Another Cinderella Story,” “Princess Protection Program,” and “Ramona and Beezus.” Today, she is a 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 released three studio albums as part of Selena Gomez & The Scene. All three albums achieved gold status.
Rare Beauty & Other Investments
In addition to her acting and singing career, Selena is a very successful investor and businesswoman.
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 valuation of $100 million.
Serena Williams’ venture capital fund, Serena Ventures, led the round along with 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.
More importantly for Selena’s net worth, she founded the makeup company Rare Beauty. Selena launched Rare Beauty in September 2020 with an exclusive launch at Sephora. Rare Beauty has been an enormous success.
In 2022, the company generated at least $100 million in revenue. It is reportedly on track to make $300 million, or more, in 2023. Using a conservative revenue multiple of 4x and assuming $300 million is correct, Rare Beauty is worth at least $1.2 billion today.
Rare Beauty has succeeded by focusing on affordable, easy-to-use, and moderately priced products like lip liners, liquid blushes, and liquid foundations. Most products range in price from $5 to $30.
Rare Beauty donates 1% of all sales to its philanthropic fund. The fund has raised over $5 million, including through donor-driven 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 only sixteen when Selena was born.
Gomez is named after famous singer Selena Quintanilla-Pérez. Her parents divorced when she was five, and Selena stayed with her mother. They were struggling financially because their mother was struggling to support them. Selena graduated from high school through homeschooling in May 2010.
Early Career
One of her first television roles was in the “Barney and Friends” series from 2002 to 2004. Selena played the role of Gianna in the series and appeared in 14 episodes. She appeared in “Barney” alongside actress Demi Lovato.
She also made a guest appearance around this time in the film “Spy Kids 3-D: Game Over” in 2003 and appeared in the TV movie “Walker, Texas Ranger: Trial by Fire” in 2005. Selena made a guest appearance on Disney’s “The Suite Life of Zack & Cody” in 2006. She also played a pop star in a recurring role on Disney’s popular “Hannah Montana” in 2007.
Acting Career
His most prominent television role was in “Wizards of Waverly Place”, which aired for 106 episodes between 2007 and 2012. Two “Wizards of Waverly Place” movies were also made. For his work on “Wizards of Waverly Place”, Selena was paid $30,000 per episode. He has also appeared in several films and recently launched his production company, July Moon Productions.
Music and Other Ventures
Selena signed with Hollywood Records at age 16, the same label that had previously signed Miley Cyrus and Demi Lovato. She has released three studio albums, two EPs, and a compilation album.
Gomez was also the lead singer of the band Selena Gomez and the Scene. They have released three studio albums and a remix album. She has toured twice as a solo artist and three times with her former band.
In September 2017, it was revealed that Selena had signed a two-year, $30 million contract with the footwear company Puma. The deal makes Selena the new face of Puma alongside Rihanna. She is an executive producer on the Netflix series “13 Reasons Why” and “Living Undocumented.”
$30 Million Puma Deal
As mentioned above, since September 2017, Selena has been the face of Puma, a sportswear company. The two-year deal earned her a total of $30 million. Selena announced the deal via Instagram, posting a photo of herself in Puma gear and the caption: “I’m officially part of the @puma family #pumapartner.”
In a press release, Gomez said the upcoming collaboration with Puma was “inspiring.” The press release continued, “Puma has changed the game regarding combining sportswear and fashion.
It’s incredible to see their influence on style and culture, and I’m excited to be a part of it.” I hope we can create something special together. We already have some fantastic projects in the works.”
Gómez’s first appearance for Puma will be in the brand’s latest campaign for Phenom, one of Puma’s latest women’s footwear lines.
$10 Million Coach Deal
In December 2016, Gomez signed a $10 million endorsement deal with bag maker Coach. At the time, Selena was 24. Not only did she become the brand’s new face, but the deal allowed Gomez to create her own line for Coach, which was looking to expand its customer base.
The brand hoped that Selena, the most followed person on Instagram then, would help attract a younger customer base without losing touch with its mature clientele.
Stuart Vevers, Coach’s creative director, says the entire brand is looking toward a “new day at Coach.” In an interview with British Vogue, she said: “When I came to Coach, I used our history as a touchstone, so it was up to me to figure out what things would be credible at Coach… I felt it was essential to be bold, look to the future and explore what the next generation wants from luxury and fashion.
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 a single Selena Instagram post is worth $3.5 million to the brand paying for it.
She is known to have earned between $500,000 and $800,000 from a single sponsored post. Selena earns between $10 million and $15 million a year between her various businesses, mainly Coach, Puma, and Instagram.
A very impressive sum, but not enough to make her one of the 100 highest-paid celebrities in the world. Perhaps Ms. Gomez prefers to keep a low profile.
Personal Life
In 2008, Selena briefly dated Nick Jonas. She is also known for having a controversial relationship with fellow pop star Justin Bieber. Their relationship was reportedly so stressful for Selena that she was forced to check into a rehab facility.
The two dated seriously for two years, from December 2010 to November 2012, then broke up and got back together. They repeated this cycle in 2013, 2014, 2015, and 2017. They reportedly broke 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.
Philanthropy
Selena is a very active philanthropist who devotes many hours to various causes. She works closely with UNICEF and is currently an ambassador for the organization’s “Trick or Treat” fundraising program.
Gomez visited Ghana for a week in 2009 to see the dire conditions of impoverished children lacking basic necessities such as clean water and food. He has used his celebrity through UNICEF to raise awareness in Ghana.
She has also travelled to Chile to meet with families participating in UNICEF’s Programa Puente program, which helps families develop the skills to raise children.
Selena Gomez Net Worth Milestones
Selena was added to CelebrityNetWorth in December 2009 with a net worth of $1 million. She was 17 years old and 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 had surpassed $5 million.
After releasing her first solo album, she surpassed $10 million in net worth in April 2013. She surpassed $18 million in 2015, largely thanks to Instagram.
Thanks to her Puma deal, Coach deal, album sales, countless singles, acting career, and more, her net worth was over $60 million as of mid-2018. As of 2019, Selena Gomez’s net worth is $75 million.