Selena Gomez is a global superstar whose journey from Disney Channel actress to self-made billionaire is a testament to her talent, hard work, and entrepreneurial spirit. Known initially for her role as Alex Russo on Wizards of Waverly Place, Gomez has since built a diverse empire that spans music, acting, and business. As of 2024, she has amassed a net worth of $1.3 billion, largely due to her successful ventures like the beauty brand Rare Beauty, smart investments, and high-profile endorsements. Beyond her financial success, Gomez is a passionate advocate for mental health and philanthropy, using her platform to raise awareness for causes close to her heart. Her remarkable rise to billionaire status showcases her ability to evolve from a child star into one of the most influential women in the entertainment industry, demonstrating both financial acumen and a commitment to making a positive impact.
Early Career and Breakthrough
Selena Gomez’s rise to fame began early, starting with roles on children’s TV shows like Barney & Friends in the early 2000s. However, it was her breakout role as Alex Russo on Disney Channel’s Wizards of Waverly Place that catapulted her into stardom. The show aired from 2007 to 2012 and was a major hit, drawing a wide audience and making Gomez a household name. She reportedly earned $30,000 per episode, which allowed her to amass significant wealth even before her 20s.
Beyond Disney, Gomez began transitioning into film and music. She starred in movies like Monte Carlo (2011) and Spring Breakers (2012), further proving her versatility as an actress. Simultaneously, she was carving a successful music career. Between 2009 and 2011, Gomez released three albums with her band Selena Gomez & the Scene. While these ventures contributed to her financial foundation, they were just the beginning of her meteoric rise to wealth.
Music Career
Music has been a consistent part of Gomez’s career and a notable contributor to her income. Her solo career took off with the release of her debut album, Stars Dance (2013), which featured the hit single “Come & Get It.” The album debuted at No. 1 on the Billboard 200 chart, establishing her as a serious contender in the music industry. Her follow-up album, Revival (2015), solidified her place in pop music, with hits like “Good for You” and “Hands to Myself.”
While Gomez has released fewer albums than some of her peers, she has had massive success with singles, both in English and Spanish. She collaborated with other artists, most notably on the viral song “Calm Down” with Rema in 2023. Her music career also generated substantial revenue through tours, with her Stars Dance Tour (2013) and Revival Tour (2016) bringing in tens of millions of dollars each.
Moreover, her presence on streaming platforms like Spotify—where she has over 58 million monthly listeners—continues to ensure a steady income from music royalties.
Acting and Production
Although music and acting both contributed significantly to her wealth, Selena Gomez’s business acumen truly shone in the way she leveraged her acting career to become a producer. Her role as Mabel Mora in Hulu’s Only Murders in the Building (2021-present) has not only added to her fame but also her fortune. She earns an estimated $6 million per season and holds an executive producer role, giving her a cut of the profits. The show has been a commercial and critical success, further cementing her place in Hollywood.
Beyond acting, Gomez ventured into production with 13 Reasons Why (2017-2020), a Netflix series that gained immense popularity. Serving as an executive producer, she capitalized on the success of the show, which became one of Netflix’s most-watched series during its run.
Gomez also produced her own cooking show, Selena + Chef, which premiered on HBO Max in 2020. The unscripted series allowed her to explore her passion for food while staying connected to her audience in a more personal way.
Rare Beauty: A Billion-Dollar Business
While acting and music laid the foundation for Gomez’s wealth, it was her foray into the beauty industry that transformed her into a billionaire. In 2020, she launched Rare Beauty, a makeup brand that became an instant success. The brand promotes self-acceptance and mental health, with 1% of sales going to the Rare Impact Fund, which focuses on increasing access to mental health services.
Within just a few years, Rare Beauty became a major player in the beauty industry, generating an estimated $350 million in revenue by 2023. What sets Rare Beauty apart from other celebrity-driven brands is its focus on inclusivity and high-quality products at a mid-range price point, which has resonated with consumers. The brand’s massive popularity on social media platforms like TikTok has further fueled its success. By 2024, Gomez’s stake in the company was valued at over $1 billion, making it the single largest contributor to her net worth.
Endorsements and Social Media Influence
Selena Gomez is one of the most-followed individuals on Instagram, with over 424 million followers as of 2024. Her massive social media presence has made her a highly sought-after figure for brand endorsements. Gomez earns approximately $2.5 million per sponsored post on Instagram, thanks to her vast and engaged audience.
She has partnered with numerous high-profile brands over the years, including Coach, Puma, and Pantene. Her collaboration with Puma, which began in 2017, was particularly lucrative. Gomez designed multiple collections with the sportswear brand, and their long-term partnership significantly bolstered her earnings. Similarly, her role as a brand ambassador for Coach allowed her to showcase her love for fashion while adding to her income.
These endorsement deals have consistently been a substantial source of revenue for Gomez, enabling her to diversify her income streams.
Investments
Gomez has not only succeeded in entertainment and beauty but also demonstrated a keen eye for smart investments. One of her most notable investments is in the frozen dessert company Serendipity Brands, where she holds an ownership stake. The brand, inspired by the famous Serendipity3 restaurant in New York City, has annual revenues close to $16 million. Gomez even co-created her own ice cream flavor with the brand, further boosting its visibility.
In addition to Serendipity, Gomez became an investor and partner in the grocery delivery service Gopuff in 2021. The Philadelphia-based startup, valued at $15 billion, has seen exponential growth due to the rising demand for quick and efficient grocery delivery services. Gomez’s investment in the company is yet another example of her ability to capitalize on trends and make financially sound decisions.
Her ventures also include Wondermind, a mental health platform she co-founded with her mother, Mandy Teefey, and Daniella Pierson in 2021. By 2022, Wondermind had already achieved a valuation of $100 million. The platform provides tools and resources for mental health support, a cause that is deeply personal to Gomez, who has been open about her own struggles with mental health.
Mental Health Advocacy and Philanthropy
While building her empire, Selena Gomez has remained committed to using her platform for good. She has been an outspoken advocate for mental health, and much of her philanthropy is focused on this cause. In addition to the Rare Impact Fund through her beauty brand, Gomez has contributed to numerous other initiatives aimed at improving access to mental health resources.
In 2019, she executive-produced the Netflix documentary Living Undocumented, which highlighted the stories of undocumented immigrants in the United States. This project, among others, demonstrates her commitment to using her influence to raise awareness about social issues.