Why Selena Gomez isn't a billionaire — the real numbers behind her net worth
Contrary to widespread headlines declaring Selena Gomez a billionaire, the former Disney star and multi-hyphenate entrepreneur isn’t quite there yet. According to a recent investigation by Forbes, Gomez’s net worth is closer to $700 million—not the $1.3 billion figure previously reported by Bloomberg and echoed by many media outlets.
'Selena Gomez.'
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This recalibration in valuation comes amid financial turbulence at Wondermind, the mental health startup Gomez co-founded in 2021 alongside her mother, Mandy Teefey, and Daniella Pierson. Over the weekend, Forbes revealed the startup failed to pay employees, freelancers, and vendors in recent weeks. Nine employees were laid off in early May, and CEO Teefey reportedly took out a personal loan against her home to cover debts.
The financial trouble sparked public debate: If Selena Gomez is truly a billionaire, why couldn’t she step in to save her own company?
The answer lies in how her wealth is structured.
The bulk of Gomez’s estimated $700 million fortune comes from her 51% stake in Rare Beauty, the cosmetics brand she founded in 2019 and launched in 2020. Rare Beauty generated $367 million in revenue in 2023, with Forbes valuing the company at approximately $1.3 billion. However, Gomez’s wealth is tied up in equity, not cash. And while Rare Beauty’s future looks bright, market conditions and growing competition are putting pressure on beauty valuations overall.
Beyond Rare Beauty, Gomez has earned around $90 million from acting, music, endorsements, and producing. That includes major deals like her $30 million Puma collaboration and her role in Hulu’s Only Murders in the Building. But compared to touring artists like Taylor Swift or Beyoncé—who rake in hundreds of millions from global tours—Gomez’s entertainment income has been more modest.
As for Wondermind, it’s unclear how much Gomez has invested personally. One former employee told Forbes that Gomez and Teefey had poured about $8 million of their own money into the venture by mid-2023. Despite raising $5 million in a 2022 Series A funding round led by Serena Ventures, the company has struggled to secure further capital and has faced missed payrolls and layoffs.
Though she hasn’t commented on Wondermind’s troubles, Gomez remains publicly focused on Rare Beauty and her acting career. She recently surprised fans at the Rare Beauty Mental Health Summit and continues filming the latest season of Only Murders in the Building.
What sets Gomez apart isn’t just her success—it’s her brand’s staying power. As beauty investment expert Ashleigh Barker notes, Rare Beauty isn’t reliant solely on Gomez’s image. “The brand can stand on its own two feet,” Barker said, adding that its mission and messaging have longevity beyond celebrity.
At 32, Selena Gomez may not be a billionaire yet, but she’s already one of the richest and most influential self-made women in entertainment. And with her ongoing ventures and loyal fan base, billionaire status may still be a matter of “when,” not “if.”
