Selena Gomez’s Net Worth 2023

Selena Gomez's net worth was estimated to be around $1 billion as of 2024, according to Celebrity Net Worth.

Selena Gomez is an American singer, actress, and producer. She was born on July 22, 1992, in Grand Prairie, Texas. Gomez began her career as a child actress on the children's television series "Barney & Friends" and then went on to star in the Disney Channel series "Wizards of Waverly Place."

In addition to her acting career, Gomez is also a successful singer. She has released several albums, including "Stars Dance," "Revival," and "Rare," and has sold millions of records worldwide. Her music has received critical acclaim, and she has won numerous awards, including an American Music Award and a Billboard Women in Music award. Gomez is also active in philanthropy and has supported various charitable organizations, including UNICEF, St. Jude Children's Research Hospital, and the Lupus Research Alliance. She has also been open about her struggles with mental health and has used her platform to raise awareness about mental health issues.

Personal Information

Selena Gomez's Net Worth in 2024

As of 2024, Selena Gomez's net worth is $1 billion as per Celebrity Net Worth. The actress and singer's valuation reportedly comes from her Rare Beauty make-up company, which she founded five years ago and still retains a stake worth around $1 billion. Not only that, her career as a musician and actor do play a role although they only account for a fraction of her wealth as per the BBC. The other major stake goes to her various endorsement deals with Louis Vuitton, Coach and a few others.

Sources of Income

Selena Gomez is a multi-talented artist who has various sources of income. Some of her primary sources of income include:

Music

Selena Gomez has a highly successful music career and earns a significant portion of her net worth from it. Her debut solo album, Stars Dance, released in 2013, featured the hit single "Come & Get It," which peaked at No. 1 on the Billboard 200 chart. The subsequent Stars Dance tour reportedly earned over $20.3 million the same year. In 2015, Gomez released her second album, Revival, and the Revival tour in the following year grossed over $35 million. Her third studio album, Rare, released in 2020, sold over 117,000 units in its first week and topped the Billboard 200 chart for the third time.

While Gomez earns a significant amount from her tours and concerts, her record sales also account for a large portion of her wealth. According to Parade, her record sales stand at $16 million over the course of her career. However, unlike her friend Taylor Swift, who frequently goes on tour, Gomez doesn't tour as much.

Acting

Selena Gomez's primary source of income is her highly successful music career. She has released several hit albums, including Stars Dance, Revival, and Rare, which have earned her millions of dollars. In addition to album sales, her tours and concerts also contribute significantly to her net worth, with her Stars Dance and Revival tours grossing over $20.3 million and $35 million, respectively.

Social Media

While music is her primary source of income, Gomez also earns a significant amount from her massive following on Instagram, where she has over 426 million followers. For a single sponsored post, she has been known to make anywhere between $500,000 and $800,000. Additionally, she has also appeared in several films and television shows, such as Wizards of Waverly Place, The Fundamentals of Caring, and The Dead Don't Die, which have further boosted her income.

Selena's Own Makeup Brand - Rare Beauty

In September 2022, Selena Gomez introduced Rare Beauty, a makeup line with a purpose. She is the founder and sole owner of Rare Beauty, in contrast to other celebrity makeup brands, which are actually joint ventures with large, majority-owned corporations.

The company's two main goals are: Firstly, create products that are widely used, adored, and reasonably priced. Products from Most Rare Beauty can be purchased for as little as $5 or as much as $30. Secondly, 1% of every dollar earned goes into Rare Beauty's in-house Rare Impact Fund. The organization also hosts charity events, one of which raised $500,000 at the White House in 2022.

To date, Rare Beauty has raised $5 million and donated $2 million through fundraising events and 1% revenue accruals. Over the course of its first ten years, the company intends to raise and donate $100 million, with 70% going to organizations led by BIPOCs.

In 2023, Rare Beauty is expected to bring in at least $300 million. Beauty businesses are typically valued at a multiple of 3 to 10 times their annual revenue, with fast-growing businesses being valued at the higher end of that range. Selena's business is currently valued at $1.2 billion if Rare Beauty generates $300 million in revenue annually and Gomez reportedly owns 51% of the company.

Brand endorsements

Selena Gomez has had successful brand partnerships with several companies. Her two-year deal with PUMA in 2017 was one of her most profitable brand endorsements, earning her a whopping $30 million. She also had a successful partnership with Coach in 2016, where she was paid $10 million. In addition to these, Gomez became a part-owner of Serendipity, an ice cream brand in New York, in 2020, and even launched her own flavor called "Gomez's Cookies & Cream Remix." She has also worked with Pantene and was reportedly paid $3 million for appearing in its advertisements.

Expenditure

Selena Gomez is known for her luxurious lifestyle and her collection of high-end vehicles. She reportedly owned a BMW X5 in 2013, which has a base price of $119,697, and a Mercedes Maybach, which starts at $312,258. Gomez also enjoys riding a Vespa Buddy 125, which costs around $2,800. She likes to vacation in style and often goes on yachting trips with her friends and family. For her cousin's wedding, she not only gifted her the wedding dress but also paid for her bachelorette trip to Mexico.

Real Estate Assets

Selena spent $2.175 million on a house in Tarzana, California, in July 2011. Formerly owned by rising star Jonah Hill, the 4,500 square foot house is situated on an acre of land. There are five bedrooms and five bathrooms in this one-story home. The house has beautiful hardwood floors, high ceilings, lots of sunlight, an office, and a sizable eat-in kitchen. The backyard includes a spa in addition to a pool, tennis court, and bocce ball court. She put this house up for sale in May 2014 for $3.495 million, and in October she sold it for $3.45 million.

She purchased a fairly large home on 3.15 acres in a gated community in Calabasas for $3.69 million in 2014. She attempted to sell this house for $4.495 million at one point, but she ultimately suffered a slight loss. French Montana, a rapper, purchased the house after listing it for $6.6 million in February 2020.

She spent an undisclosed sum in 2015 to purchase a massive house in Fort Worth, Texas. In 2016 and 2017, she listed that home for $3.499 million, and in 2018, she listed it once more for $2.999 million. In October 2020, she sold this house for $2.4 million. Gomez invested $2.249 million in a relatively modest house in Studio City, California, in 2017. She put it up for sale for $2.799 million a year later, and it sold for $2.3 million.

Selena paid $4.9 million in April 2020 for an 11,500 square foot residence in Encino, California. The house was custom built by Tom Petty in the late 1980s, and after their 1996 divorce, he gave it to his ex-wife. In 2015, Tom's ex-wife lost the house to foreclosure. Selena bought the house from a non-celebrity who had only owned it for a few months and had made $400,000 off of the sale.