Selena Gomez Net Worth, how she makes her millions

Birth nameSelena Marie Gomez
BirthdayJuly 22, 1992
Age29
Selena Gomez net worth$85 million
Source of wealthMusic, movies, other ventures
Marital statusSingle
EducationHigh School diploma
ResidenceLos Angeles, CA

Selena Gomez is an American actress and singer with an estimated net worth of about $85 million. She gained recognition for starring in the tv show Wizards of Wavery Place which aired on Disney Channel from 2007 to 2012. Selena Gomez is one of the most followed celebrities on Instagram. In 2016 she was named one of the top 30 under 30 in music by Forbes. Time magazine named her one of the world’s 100 most powerful people in 2020. She has been a UNICEF ambassador since the age of 17.

Gomez has sold more than seven million albums and 22 million singles globally. She has made her fortune from music, films, and endorsement deals from companies like Puma. She owns a makeup line called Rare Beauty, a line of clothing known as Dream Out Loud by Selena Gomez, and Selena Grace, a line of handbags that she launched in 2017.

So how did Selena Gomez start and how did she accumulate a net worth of $85 million? I know you are also curious to find out how the singer spends her millions.

Early life

Selena Gomez was born on July 22, 1992, in Texas, United States to Mandy Teefey and Ricardo Joel Gomez. Her mother was just 16 when she was born. At the age of five, Selena’s parents divorced and she remained with her mother. Her mother struggled to raise her and was often assisted by her parents (Selena’s grandparents). Selena Gomez recalls that her mother had three jobs and sacrificed her life for her. In 2010 she received a high school diploma through homeschooling. Selena has one younger stepbrother and two younger half-sisters.

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Career beginnings

Beginning of her acting career

Selena Gomez began her acting career in 2002 when she played Gianna on the Children’s television series Barney & Friends. After appearing on 13 episodes between 2002 and 2004, the producers no longer allowed her on the show because of her age. She was 12 at the time yet the series targeted children between ages 2 and 7. In 2003 the actress made a brief appearance in the film Spy Kids 3-D: Game Over. She also appeared in the movie Walker, Texas Ranger: Trial by Fire in 2005 and guest-starred in an episode of the Disney Channel series The Suite Life of Zack & Cody in 2006.

In 2007 Selena Gomez auditioned and landed a major role in Disney’s series Wizards of Waverly Place. She portrayed the role of Alex Russo, a teenage girl in a family of wizards who own a restaurant in New York City. She also recorded the theme song for the show titled “Everything is Not What It Seems”. The show ultimately became a success for Disney, received several awards, and acted as Selena’s breakthrough into the industry.

Beginning of her music career

In 2008, while she was 16, Selena signed a record deal with Hollywood Records hoping to join the music industry. She formed the band Selena Gomez & the Scene featuring other artists such as Greg Garman (who was the band’s drummer) and Drew Taubenfeld (who was their guitarist). The band released their debut studio album in 2009 which sold 66,000 copies in its first week and peaked at number nine on the Billboard 200 albums. In 2011 the actress played a lead role as Grace in the film Monte Carlo.

At the beginning of 2012, Selena Gomez announced that she was taking a break from music. Wizards of Waverly Place also ended the same year after running for four seasons. Later that year, Selena reported that she was working on her debut solo album, Stars Dance, which she released in July 2013. The album sold 97,000 copies within its first week and peaked at number one on the US Billboard 200. She has named Rihanna, Bruno Mars, Taylor Swift, Christina Aguilera, and Britney Spears as her musical influences.

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Selena Gomez has a net worth of $85 million. How does she make her millions?

Dream Out Loud, Selena Grace, and Rare Beauty

According to Parade, Selena Gomez makes an estimated $7 million every year. Apart from music and films what are her other sources of income?

Gomez owns a clothing line named Dream Out Loud which she launched in 2010. The brand features hats, skirts, bohemian dresses, jeans, scarves, and floral tops all of which are made from eco-friendly or recycled materials. In 2012 the singer released her first fragrance, Selena Gomez Eau de Parfum, in partnership with Adrenalina. She launched her second fragrance, Vivamore by Selena Gomez in 2013.

In 2017 Selena Gomez partnered with Coach, a leather goods fashion house to launch a line of handbags known as Selena Grace. In December 2018, she collaborated with PUMA to launch the line SG x PUMA Strong Girl collection which features items such as sneakers, accessories, and jackets. According to Glamour, the starting price for accessories is $30 while jackets go for up to $120.

In September 2020, Selena Gomez released her own makeup line known as Rare Beauty. The brand, which Gomez calls “more than a beauty brand”, features products such as lipstick, foundations, concealers, highlighters, blushes, and liquid eyeliners. Parade reports that Rare Beauty is the 8th most successful celebrity-founded beauty brand with estimated annual revenues of $60 million.

Endorsements, movies, and social media

The singer has endorsed several companies including Coca-Cola, Borden Milk, and Adidas. In 2015 she signed a $3 million/year endorsement deal with Pantene, a brand of hair care products. In 2016 lyrics from two of her tracks were featured on the Coca-Cola packaging nationwide. The singer has endorsed Puma since 2017, in a deal reportedly worth $30 million. She has also partnered with other companies such as Louis Vuitton, a French luxury fashion house.

The “Heart Wants What It Wants” singer is the 4th most followed celebrity on Instagram with more than 311 million followers. According to Hooper HQ, she pockets about $1.4 million for every post on the social network. The singer is a part-owner of Serendipity, releasing her own Serendipity ice cream flavor, Gomez’s cookies & Cream Remix in 2020. Serendipity is a New York-based ice cream restaurant with about $16 million in annual revenues.

It’s estimated that Selena Gomez earned roughly $25,000 to $30,000 per episode from her first acting gig, Wizards of Waverly Place. She also pocketed $2.5 million for her role in the musical comedy Monte Carlo. In 2008 when she was just 16, the “Same Old Love” hitmaker started her own production company, July Moon Productions.

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How does Selena Gomez spend her millions?

Real estate

In 2020, Selena Gomez bought Tom Petty’s former home in Encino, Los Angeles for $4.9 million . This is where she has called home since then. The 11,500 square foot mansion features six bedrooms, eight bathrooms, and two half-bathrooms. It also has a spa, a massage room, a wine cellar, a gym, and a pool.

The singer also owned a 3,188 square feet home in Studio City which she bought in 2017. She sold the three-bedroom, two-and-a-half-bathroom property in 2020 for $2.4 million after being on the market for more than two years. She owned another mansion in the Montserrat neighborhood of Texas which she bought in 2015 for $3.5 million. Gomez later sold the five-bedroom property for $2.7 million. The “Back To You” singer spent $3.69 million for a five-bedroom six-bathroom mansion in Calabasas. She sold it for $3.3 million.

selena-gomez-encino-mansion
Selena Gomez $4.9 million mansion in the Encino neighborhood of Los Angeles
Lifestyle

Selena Gomez spends quite some good money on her skincare. She begins every day with a Clarisonic sonic radiance skin renewing peel wash that costs $39 which she applies with her $169 Clarisonic device. The singer then applies first aid beauty’s eye duty triple remedy $36 cream around her eyes to ensure she looks well-rested. She also uses a $68 clinical concentrate radiance booster which totals to a $312 daily skincare budget just for the mornings.

Selena Gomez loves tattoos, according to TheThings Celebrity, she has 10 of them. Her favorite artist is BANG BANG NYC who charges about $500 per session regardless of the design size. The singer takes private yoga classes at an exclusive studio. Each class can cost up to $300 an hour. If she takes 2 classes a week that translates to about $2,400 a month and $28,800 a year.

Parties

In 2017, the singer threw a birthday party at Dave & Busters for her then-boyfriend The Weeknd. Gomez paid a $30,000 bill for the private event which was attended by the likes of Big Sean, Migos, and 2 Chainz. Selena Gomez once hired a yacht and took her friends out to celebrate her birthday. It costs anywhere from $100,000 to hire a yacht for a week.

Selena paid for the bachelorette party for her cousin Priscilla de Leon which involved a stay at the Four Seasons in Punta Mita, Mexico where prices begin at about $1,000 per night. Selena also bought her cousin her dream wedding dress, which as you might be guessing cost her a pretty penny. The singer chartered a private jet to Italy to celebrate her 27th birthday. Chartering a private jet can cost anywhere from $4000 to $13,000 per hour. This means that she spent at least $100,000 for the trip.

Cars

Selena Gomez owns a $110,000 Mercedes Benz S 400 which is the singer’s most luxurious vehicle. She also owns a Cadillac CT6 which costs about $75,000, a $55,000 BMW 530i, a range rover Evoque that goes for about $50,000 as well as a $36,000 Mercedes-Benz GLA 250. Gomez is also the owner of a BMW X5 that costs about $60,000.

Personal life

Selena Gomez was in a relationship with musician Nick Jonas from 2008 to 2009. She then began dating Justin Bieber in December 2010 and was in an off-and-on relationship with the “Holy” singer until March 2018. Selena Gomez also dated DJ Zedd in 2015 and the Weekend in 2017.

Conclusion

Selena Gomez has a net worth of $85 million according to Celebrity Net Worth. She began as an actor and later joined the music industry. Gomez has other ventures such as the Serendipity restaurant in New York City all of which contribute to her fortune. Finally, I have gathered a few quotes by Selena Gomez which could inspire you.

  • “I realize everybody wants what they don’t have. But at the end of the day, what you have inside is much more beautiful than what’s on the outside!”
  • “I think it’s healthy to gain a perspective on who you are deep down, question yourself, and challenge yourself; it’s important to do that.”
  • “I want people to really be inspired, to believe they can do whatever they want.”
  • “I have my moments of insecurity and figuring out what’s going on and what I’m supposed to do, but if you don’t push yourself, you’re not growing, so where do you go?”
  • “If you are broken, you do not have to stay broken.”
  • “I think life is very, very, very hard, and I’ve never had anything come super easy to me, no matter what people may think.”

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