Selena Gomez is one of the most successful and influential pop stars of her generation. In 2023, she continued to dominate the music charts, the red carpets, and the social media platforms with her talent, style, and charisma. Selena Gomez is not only a pop icon, but also a role model for millions of fans worldwide. She advocates for mental health awareness, women’s empowerment, and social justice. She is also the founder of Rare Beauty, a makeup brand that celebrates diversity and inclusivity. Let’s deep dive into the article and learn more about Selena Gomez’s lifestyle and net worth.
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What is Selena Gomez’s Net Worth?
According to various reports, Selena Gomez’s net worth is estimated to be an astounding $800 million as of 2023. This makes her the highest-earning Disney alum and even surpasses her close friend Taylor Swift’s impressive net worth of $600 million.
Most of her wealth comes from her highly successful makeup company, Rare Beauty, which raked in nearly $60 million in revenue within its first year. Rare Beauty is not just a cosmetics brand, but also a social impact initiative that aims to promote mental health awareness and support among its customers and community.
The $5 million investment made by Serena Williams in August 2022 increased Wondermind’s valuation to $100 million. Williams promised to participate in the start-up’s marketing and creative initiatives in addition to funding. On the other hand, Selena Gomez’s estimated net worth for the previous year was $95 million.
But according to recent sources, Gomez’s net worth has significantly increased and is currently estimated to be around $800 million. Many admirers of this incredible leap on Twitter are in a state of amazement and confusion.
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Selena Gomez’s Early Life
Selena Gomez is a famous American singer and actress who rose to stardom as a child star on Disney’s Wizards of Waverly Place. She was born on July 22, 1992, in Grand Prairie, Texas, to Amanda Dawn Cornett, a former actress, and Ricardo Joel Gomez, who is of Mexican descent. Her parents divorced when she was five years old, and she was raised by her mother and grandparents.
She was named after the late Tejano singer Selena Quintanilla-Perez, who was her mother’s idol. Selena developed an interest in acting from watching her mother perform on stage. She auditioned for and landed a role on the children’s show Barney & Friends in 2002, where she met her future friend and fellow star Demi Lovato.
In 2008, Selena Gomez signed with Hollywood Records and formed her own band, Selena Gomez & the Scene. The band released three albums: Kiss & Tell (2009), A Year Without Rain (2010), and When the Sun Goes Down (2011). All of the albums and singles were certified gold or higher by the RIAA, and featured hits such as “Naturally”, “Who Says”, and “Love You Like a Love Song”. Selena Gomez also collaborated with other artists, such as Demi Lovato, The Black Eyed Peas, and Taylor Swift.
Selena Gomez is currently starring in and producing the Hulu series Only Murders in the Building, a mystery comedy that also features Steve Martin and Martin Short. The show has been praised by critics and audiences alike, and has earned her a Golden Globe nomination for Best Actress and an Emmy nomination as a producer.
How much does Selena Gomez make from Rare Beauty?
What makes Rare Beauty stand out from other beauty brands is its social impact. Rare Beauty donates 1% of all sales to the Rare Impact Fund, which supports mental health initiatives in educational settings. The fund’s goal is to raise $100 million over the next 10 years to provide access to mental health services for underserved communities. Selena Gomez, who has been open about her own struggles with anxiety and depression, wants to destigmatize mental health issues and inspire people to seek help when they need it.
Rare Beauty has also been a huge commercial success, earning $60 million in revenue in its first year, according to TooFab. The brand has a loyal fan base on social media, with 3 million followers on TikTok and 5.7 million followers on Instagram. The brand’s best-selling product is the Soft Pinch Liquid Blush, which sold 3.1 million units in 2022 and has been praised for its long-lasting and pigmented formula.
Rare Beauty is a testament to Selena Gomez’s vision and values. She has created a beauty brand that is not only profitable but also meaningful and impactful. Rare Beauty is more than just makeup, it’s a movement.
How much does Selena make from brand endorsements?
Selena Gomez has lucrative endorsement deals with brands like Puma, Coach, Pantene and Louis Vuitton. She has been the face of Puma since 2017 and has collaborated with the sportswear giant on several collections. She also has a long-term partnership with Coach, designing handbags and accessories for the luxury brand. She has also appeared in campaigns for Pantene and Louis Vuitton, earning millions from these deals.
Selena Gomez became the face of Adidas NEO, a sub-brand that targets young consumers, in 2013. She signed a three-year contract worth $10 million and also designed her own collection for the brand.
Selena Gomez partnered with Puma in 2017, becoming a global ambassador and a creative collaborator for the brand. She starred in several campaigns for Puma’s sneakers, activewear and athleisure products, and also launched her own collection called SG x Puma. She reportedly earned $30 million for the deal.
Selena Gomez Lifestyle
What does the pop star and actress do with her fortune, estimated at about $800 million? Here are some of the ways Selena Gomez spends her money on her lifestyle and luxury assets.
Luxury homes: Selena Gomez has bought and sold several properties in different locations, ranging from Texas to California to New York City. She has a taste for spacious and elegant mansions with amenities like swimming pools, spas, gyms, home theaters, wine cellars, and more. Some of the homes she has owned or currently owns include:
- A $3.5 million dream home in Texas with five bedrooms, six and a half bathrooms, three fireplaces, and a lagoon-style saltwater pool.
- A $2.5 million Studio City house with four bedrooms, four bathrooms, a gourmet kitchen, and a hot tub.
- A $3.69 million Calabasas mansion with five bedrooms, six bathrooms, five fireplaces, and a guest house .
- A private and cozy apartment on the Upper East Side of New York City, where she currently resides.
Frequent expensive parties: Selena Gomez knows how to have fun and celebrate with her friends and family. She has been known to splurge on lavish parties for various occasions, such as:
- Sponsoring the $30,000 bar tab for her ex-boyfriend The Weeknd’s birthday party at Dave and Busters.
- Buying a fancy wedding dress and paying for the extravagant bachelorette party at Four Seasons, Punta Mia in Mexico for her cousin Priscilla DeLeon.
- Hosting a pizza party at her home for her best friend Taylor Swift’s 25th birthday.
Plethora of fancy outfits: Selena Gomez is a fashion icon who always looks stunning on and off the red carpet. She has a wardrobe full of designer clothes, shoes, and accessories that she wears with style and grace. Some of her most memorable outfits include:
- A pink Valentino shift dress, Gianvito Rossi heels, and Tiffany & Co emerald jewelry for a red carpet appearance with The Weeknd.
- A custom-made Coach gown with lace detailing and floral embroidery for the Met Gala 2018.
- A Versace leather mini dress with gold buttons and matching pumps for the American Music Awards 2019.
High-cost self-care routine: Selena Gomez takes good care of herself by investing in her health and wellness. She follows a strict skincare regimen that includes products from her own beauty line, Rare Beauty. She also works out regularly with a personal trainer and practices yoga and meditation. Some of the ways Selena Gomez pampers herself are:
- Getting massages, facials, manicures, and pedicures at upscale spas.
- Using a $600 LED face mask that stimulates collagen production and reduces inflammation.
- She drinks ginger shots every morning to boost her immunity and metabolism.
Expensive Cars: Selena Gomez loves to drive around in style and comfort. She has a collection of luxury cars that suit her personality and preferences. Some of the vehicles she owns or has owned are:
- A black BMW X5 that costs around $60,000.
- A white Tesla Model X that costs around $80,000.
- A red Ferrari Portofino that costs around $200,000.
Final Words…
Selena Gomez is not only a wealthy celebrity but also a generous philanthropist. She has donated to various causes and organizations, such as UNICEF, St. Jude Children’s Research Hospital, A21 Campaign, Lupus Research Alliance and Black Lives Matter. She has also been vocal about her own struggles with mental health and lupus, inspiring millions of fans with her courage and resilience.
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