From her early days as a Disney Channel star to her evolution into a multi-faceted artist and entrepreneur, Gomez has captured the hearts of millions worldwide. Alongside her undeniable talent, her business ventures and strategic investments have propelled her into the upper echelons of wealth. Let's delve into the intriguing journey of Gomez's net worth.
Gomez's net worth skyrocketed to an estimated $800 million in 2024, a staggering increase from the $95 million she held in 2022. The substantial growth can be attributed primarily to the phenomenal success of Gomez's makeup line, Rare Beauty, which she introduced in 2020. Gomez owns a $6.6 million home in Calabasas, Los Angeles.
Gomez has been honored in prestigious listicles including the Time 100 (2020) and Forbes 30 Under 30 (2016 and 2020). She was also recognized as the Billboard Woman of the Year in 2017, with Billboard ranking her among the most successful artists of the 2010s decade.
Early start
Selena Marie Gomez, born on July 22, 1992, in Grand Prairie, Texas, to Ricardo Joel Gomez and Mandy Teefey, is named after Tejano singer Selena Quintanilla. Her father is of Mexican descent, and her mother has Italian ancestry. Raised in a multicultural household, Gomez identifies as a proud third-generation American-Mexican. Despite financial struggles in her childhood, including her parents' divorce when she was five, Gomez's mother worked tirelessly to provide for her. Gomez, who achieved her high-school diploma through homeschooling in May 2010, has credited her mother's resilience and sacrifice for shaping her. She maintains a close bond with her grandparents, who played a significant role in her upbringing.
At the age of 7, Gomez embarked on her career as a child actress, notably starring in the children's television series "Barney & Friends". Her ascent to fame began with her portrayal of Alex Russo in the Disney Channel sitcom "Wizards of Waverly Place". The show centered around Gomez's character, a teenage girl navigating life in a family of wizards who run a restaurant in New York City. "Wizards of Waverly Place" quickly became a hit for the Disney Channel, marking Gomez's breakthrough into the mainstream and earning her status as a teen idol. Additionally, Gomez gained recognition as one of the top-earning child TV stars of all time, commanding a salary of $25,000 to $30,000 per episode. Her performance was praised for its comedic timing, solidifying her place in the entertainment industry.
Filmography spotlight
With over two decades of experience in Hollywood, Gomez's calendar is filled with a multitude of film and production projects awaiting her attention.
Gomez took on the dual roles of lead actress and executive producer in the Hulu mystery-comedy series "Only Murders in the Building," sharing the screen with Steve Martin and Martin Short. The show debuted on Hulu in August 2021, quickly breaking records as the most-watched comedy premiere in Hulu's history. Such success led to its renewal for a fourth season in October 2023.
She stars alongside Zoe Saldaña in the musical crime comedy "Emilia Perez," directed by Jacques Audiard, set for release in 2024. Additionally, Gomez is set to produce and potentially star in the horror thriller "Dollhouse," executive produce and star in the biographical film "In the Shadow of the Mountain," and star in the psychological thriller "Spiral." She's also involved in producing projects such as "15 Candles," a Peacock development inspired by "Sixteen Candles," and a reboot of "Working Girl" for Hulu. Furthermore, Gomez is producing the music documentary "Won't Be Silent" and gearing up for the release of her upcoming studio album before March 2024.
Gomes is set to portray Linda Ronstadt in an upcoming biopic. Currently in pre-production, the music biopic will feature Gomez as Linda Ronstadt, a legendary figure in country, rock 'n' roll, and Latin music, and has garnered 11 Grammy Awards.
Musical journey
Gomez's transition from acting to music was seamless, marked by the formation of her band, Selena Gomez & the Scene as part of her contract with Hollywood Records in 2008, adopting the band name as an ironic response to detractors who labeled her a "wannabe scene." The group's debut album, "Kiss & Tell," achieved commercial success, setting the stage for Gomez's solo career. While the lead single saw modest success, the second single, "Naturally," marked a significant breakthrough for Gomez.
Her subsequent albums, including "Stars Dance" and "Revival," further solidified her position in the music industry, with hit singles dominating the charts worldwide.
As of 2017, Gomez has sold 24.3 million songs and 3.6 million albums in the U.S., totaling over 11.5 million album equivalent units. With 63 million certified units in the U.S., Gomez also stands as one of the most-streamed artists globally on platforms like Spotify and YouTube.
Digital footprint
As of 2024, Gomez holds the title of the most-followed woman on Instagram, boasting an impressive following of over 430 million. With her immense popularity, Gomez commands a substantial fee per sponsored post, estimated at approximately $2,558,000 according to the annual Instagram Rich List. Since 2017, she has consistently ranked among the top five highest-paid individuals on Instagram, even securing the top spot in 2017. Gomez maintains a significant presence on other social media platforms including Twitter, Spotify, Facebook, and TikTok, further solidifying her status as one of the most influential figures in the digital realm.
Business pursuits
Rare Beauty, the cosmetics company founded by Gomez in 2020, soared to a staggering valuation of $2 billion by 2024. Within its inaugural year, Rare Beauty achieved remarkable success, generating $60 million in revenue.
Continuing her venture into the world of fashion and beauty, Gomez released a swimwear line with La'Mariette in July 2021. In November of the same year, she co-founded the mental health media platform Wondermind, highlighting her dedication to mental wellness advocacy.
Gomez expanded her entrepreneurial endeavors by becoming an owner and investor of the ice cream brand Serendipity. She further demonstrated her commitment to social impact by announcing that Serendipity Brands would donate $1 from every ice cream pint sold in May to the Rare Impact Fund.
Gomez became an investor in the food delivery company Gopuff in December 2021. In May 2022, Gomez collaborated with Our Place to introduce a cookware line, the Summer Collection, which proved to be a success. Following its popularity, a second edition of the range was released in June 2023, solidifying Gomez's position as a versatile entrepreneur across various industries.
Brand collaborations
Gomez endorses a range of prominent brands, including Adidas NEO, Coach, Coca-Cola, and Dream Out Loud.
Her collaboration with Coach marked the beginning of her partnership with the brand and her role as its new ambassador, for which she earned $10 million. The debut collection, named the "Selena Grace" line, featured a limited-edition range of handbags. Following the success of her initial collaboration, Gomez launched her second collection with Coach, titled Coach X Selena Gomez, which included a range of clothing, outerwear, and bags, marking her first foray into ready-to-wear fashion with the brand.
Gomez secured a $30 million contract with Puma as its brand ambassador, starring in campaigns like the release of the Phenom Lux sneakers. Her collaboration with Puma, known as the SG x PUMA Strong Girl collection, features a diverse range of products from sneakers to athleisure wear.
Future prospects
Looking ahead, Gomez shows no signs of slowing down. With new music projects, potential acting roles, and continued entrepreneurial endeavors on the horizon, her trajectory remains promising. Moreover, her commitment to philanthropy ensures that her influence extends far beyond the realms of entertainment and business.
Gomez's journey from a Disney darling to a global icon is a testament to her talent, resilience, and entrepreneurial spirit. Her net worth reflects not only her financial success but also her enduring impact on popular culture and society at large. As she continues to evolve and inspire, the world eagerly anticipates what the future holds for this remarkable artist and humanitarian.
