Entertainment

Selena Gomez Net Worth, Partnerships, and Social Media Success

Published

3 months ago

September 10, 2024

Selena Gomez has captivated the world not only with her talent but also with her impressive social media influence.

With over 420 million followers on Instagram, she was once the platform’s most-followed individual. Selena’s posts are incredibly valuable, estimated at $3.5 million each, showcasing her impact on brands.

Despite earning $10–15 million annually from various ventures, including partnerships with Coach and Puma, she remains outside the top 100 highest-paid celebrities, choosing instead to maintain a low-key lifestyle.

What’s Selena Gomez’s Net Worth?

Selena Gomez is an American singer, actress, producer, songwriter, and social media star with a net worth of $1 billion. Most of her wealth comes from her successful makeup company, Rare Beauty, which we will discuss in the next section.

Selena started her career as a child actress on shows like “Barney & Friends.” She has since become one of the biggest stars in the world. Unlike some of her Disney counterparts, Selena has stayed relatively drama-free.

She has handled fame, a busy schedule, and a high-profile romance with Justin Bieber with surprising calmness. When she is not recording, performing, or rehearsing, she serves as a UNICEF Goodwill Ambassador.

Selena is also an owner and investor in the ice cream brand Serendipity. In September, she launched her makeup line, Rare Beauty.

Also, she co-founded the mental health platform “Wondermind” and invested in the food delivery company Gopuff.

Early Life and Career Beginnings

Selena Gomez, born Selena Marie Gomez on July 22, 1992, in Grand Prairie, Texas, is the daughter of Ricardo Joel Gomez and former stage actress Amanda Dawn (Mandy) Cornett.

Her mother was only sixteen when Selena was born. Selena was named after the famous singer Selena Quintanilla-Perez. Her parents divorced when she was five, and she stayed with her mother.

They faced financial struggles as her mother worked hard to support them. Selena earned her high school diploma through homeschooling in May 2010.

One of Selena’s earliest television roles was on “Barney and Friends,” where she appeared from 2002 to 2004 as Gianna in 14 episodes. She starred alongside fellow actor Demi Lovato.

During this time, she also had a cameo in the film “Spy Kids 3-D: Game Over” in 2003 and appeared in the made-for-TV movie “Walker, Texas Ranger: Trial by Fire” in 2005.

In 2006, Selena made a guest appearance on Disney’s “The Suite Life of Zack & Cody.” She later had a recurring role in the popular Disney show “Hannah Montana” in 2007, playing a pop star.

Music and Other Business Ventures

At 16, Selena Gomez signed with Hollywood Records, the same label that had already signed Miley Cyrus and Demi Lovato.

She has released three studio albums, two EPs, and one compilation album. Selena was also the lead singer of the band Selena Gomez and the Scene, which released three studio albums and one remix album. She has completed two solo tours and three tours with her former band.

In September 2017, Selena signed a two-year endorsement deal worth $30 million with the shoe company Puma.

This deal made her the new face of Puma alongside Rihanna. Additionally, she serves as an executive producer for the Netflix series “13 Reasons Why” and “Living Undocumented.”

Rare Beauty & Other Investments

Outside her acting and singing career, Selena Gomez is a successful investor and entrepreneur.

In 2020, she became an investor and co-owner of the ice cream brand Serendipity. Selena also co-founded a mental health startup called Wondermind. In August 2022, Wondermind raised $5 million at a $100 million valuation.

The funding round was led by Serena Williams’ venture fund, Serena Ventures, along with Lightspeed Venture Partners and Sequoia Capital.

Wondermind positions itself as a “mental fitness” company, producing social media content, newsletters, podcasts, and more.

Most importantly for Selena’s net worth, she founded the makeup company Rare Beauty. Launched in September 2020 with an exclusive drop at Sephora, Rare Beauty has seen enormous success.

In 2022, the company generated at least $100 million in revenue and reportedly generated $350 million in 2023. Using a conservative 4x revenue multiple, this values Rare Beauty at around $1.4 billion.

In early 2024, Selena was considering a $2 billion acquisition offer and is understood to own 51% of the brand.

Rare Beauty has succeeded by offering moderately priced, accessible, and easy-to-use products like lip liners, liquid blush, and liquid foundation, with most products costing between $5 and $30.

Also, Rare Beauty donates 1% of all sales to its philanthropic fund, which has raised over $5 million through donor events.

$30 Million Puma Endorsement

In September 2017, Selena Gomez became the face of the activewear company Puma. The two-year deal was worth a total of $30 million.

She announced the partnership on Instagram with a photo of herself in Puma gear and the caption, “Officially a part of the family @puma #pumapartner.”

In a press release, Selena expressed her excitement about the collaboration with Puma. She said, “Puma has changed the game when it comes to the mash-up of athletic wear and fashion… It’s amazing to see this influence on style and culture, and I’m excited to be a part of it. I hope we can create something special together. We already have some really cool projects in the works.”

Adam Petrick, the Global Director for Brand and Marketing at Puma, praised Selena, stating, “Selena is authentic, creative, talented, and fearlessly real.”

Personal Life

In 2008, Selena Gomez briefly dated Nick Jonas. She is well-known for her on-again-off-again relationship with fellow pop star Justin Bieber.

Their relationship was reportedly so stressful for Selena that she had to enter a rehabilitation facility. They dated seriously for two years, from December 2010 to November 2012, before breaking up and getting back together several times.

This cycle repeated in 2013, 2014, 2015, and 2017, and they reportedly broke up for good in March 2018. Selena also dated The Weeknd from January 2017 to October 2017, and his album “My Dear Melancholy,” released in March 2018, makes several references to her.

Selena has referred to Taylor Swift as her “only” friend in the industry. In December 2023, she revealed that she was dating producer Benny Blanco.

Philanthropic Endeavors

Selena Gomez is a dedicated philanthropist who volunteers countless hours for various causes. She works closely with UNICEF and serves as the organization’s ambassador for the trick-or-treat fundraising program.

In 2009, she traveled to Ghana for a week to witness the difficult conditions faced by impoverished children lacking clean water and nourishment.

Through her work with UNICEF, she raised awareness about these issues. Selena also visited Chile to meet families involved in UNICEF’s Programa Puente, which helps families develop parenting skills.

Additionally, Selena is the ambassador for DoSomething.org and is involved with the charity RAISE Hope for Congo. In 2012, she became the ambassador for the Ryan Seacrest Foundation.

She often makes appearances at children’s hospitals. Selena also served as a spokesperson for State Farm Insurance, appearing in several commercials on Disney aimed at promoting safe driving.

Selena Gomez Net Worth and Earnings From Social Media

For many years, Selena Gomez held the title of the most-followed person on Instagram. Today, she has over 420 million followers.

A single Instagram post from Selena is estimated to be worth $3.5 million to the brands that pay for it. She typically earns between $500,000 and $800,000 for a sponsored post.

Through her various endeavors, including partnerships with Coach, Puma, and her Instagram presence, Selena makes between $10 million and $15 million per year.

While this is an impressive amount, it isn’t enough to place her among the 100 highest-paid celebrities in the world. Perhaps Selena prefers to keep a low profile.

Kenya Insights allows guest blogging, if you want to be published on Kenya’s most authoritative and accurate blog, have an expose, news TIPS, story angles, human interest stories, drop us an email on [email protected] or via Telegram