Selena Gomez rose to fame on Disney and is a close friend of Taylor Swift. A decision she made five years ago has vaulted her up the rich list.
, the main characters’ hit podcast is being turned into a movie. In real life, lead actress Selena Gomez is building her own, much bigger, empire.
“Selena is not just a pop star,” said Stacy Jones, founder and chief executive officer of Hollywood Branded, a Los Angeles-based branding agency. “She’s a multifaceted businesswoman with diverse income streams contributing to her impressive net worth.” Representatives for Gomez didn’t respond to requests for comment. Bloomberg’s wealth analysis took into account the estimated value of her stake in Rare Beauty, her interest in Wondermind, the estimated value of her music album sales and properties, and earnings from streaming deals, brand partnerships, concert tickets and acting. It assumes the lowest estimated value of her stakes in businesses and is based only on assets that could be confirmed or traced from publicly disclosed figures.
“It’s smart that she’s kind of created a career that’s not so dependent on music being a big part of the financial piece,” said Carolyn Sloane, a professor at University of Chicago’s Harris School of Public Policy.Most of Gomez’s fortune — roughly $US1.1 billion — comes from her stake in Rare Beauty, which she has kept largely independent.
Rare’s annual revenue reached $US350 million last year, according to Pitchbook, topping other celebrity-founded brands such as Jessica Alba’s Honest Co. and Haus Labs by Lady Gaga. Gomez co-founded Wondermind with her mother, Hollywood producer Mandy Teefey, and Daniella Pierson, the founder of pop culture newsletter The Newsette. The platform — which includes mental-health tools, interviews and a newsletter — was valued at $US100 million in 2022. It attracted investments from Lightspeed Venture Partners, Sequoia Capital and tennis icon Serena Williams’s venture fund, Serena Ventures., which co-stars Steve Martin and Martin Short and started its fourth season on August 27.
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