While Bloomberg estimated in 2024 that Selena Gomez’s net worth had crossed $1.3 billion, Forbes now puts her actual fortune closer to $700 million.
The majority of that stems from her ownership in Rare Beauty, the wildly popular cosmetics brand she co-founded in 2019 and launched in 2020. The company brought in $367 million in 2023 revenue, and is estimated to be worth $1.3 billion.
Gomez is believed to hold a 51% stake, making it her largest financial asset by far.
Wondermind’s Crisis Exposes Cash Flow Reality
While Gomez has a strong business record, Wondermind — the mental health startup she co-founded in 2021 — has fallen into financial disarray.
- Staff weren’t paid on March 31 or April 30
- Health benefits were terminated without notice
- Nine employees were laid off this week, with just four remaining
- CEO Mandy Teefey, Gomez’s mother, reportedly took out a loan against her home to cover debts
Although Gomez has been credited with co-founding Wondermind, multiple insiders say she was not actively involved in operations.
Other Earnings: Big, But Not Beyoncé-Level
Outside of Rare Beauty, Gomez has earned an estimated $90 million from:
- Music and tours
- Endorsement deals (e.g., $30M from Puma)
- Film/TV work, including “Only Murders in the Building” and producing “13 Reasons Why”
She also recently starred in the Oscar-nominated Emilia Pérez and continues to expand her profile in entertainment.
Still, her lower touring revenue compared to peers like Taylor Swift and Beyoncé keeps her total net worth below billionaire levels.
Real Estate & Lifestyle
- Bought a $5M Encino home in 2020
- Recently purchased a $35M Beverly Hills mansion with fiancé Benny Blanco
Despite her spending, she’s still financially disciplined compared to others in her circle.
Funding Struggles at Wondermind
Wondermind previously raised $5M at a $100M valuation in 2022, led by Serena Ventures. But more recent attempts to raise a Series B round have reportedly stalled.
Although Gomez and her mother were said to have invested up to $8M in the company by mid-2023, Forbes found no clear sign of further backing from Selena as the company neared collapse.
The Brand vs. The Celebrity
Industry analysts believe Rare Beauty’s real power comes from the brand itself, not just Gomez’s image.
“The fact that it’s not the Selena Gomez Beauty brand, but Rare Beauty — a brand that can stand alone — gives it staying power,” said Ashleigh Barker of Lincoln International.
Final Take
Selena Gomez is wildly successful, but her empire still has limits. While Rare Beauty continues to thrive, Wondermind’s collapse shows that even major stars can’t bankroll every venture — especially when private funding dries up.
Gomez may not be a billionaire (yet), but with $700M and one of the most beloved brands in beauty, she’s still on top of the celebrity business world.
