Selena Gomez Net Worth, Partnerships, and Social Media Success

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.