Is Selena Gomez A Billionaire? What Is Her Net Worth?

September 20, 2023   | March 22, 2024  | 

    The most followed woman on Instagram with a whopping amount of 429 million followers, Selena Gomez has also marked herself as one of the richest celebrities today, with a wealth almost reaching up to a billion dollars. So, is she already a billionaire? What is her net worth today?

    Here, we will look into the wealth and assets of the famous singer, actress as well as businesswoman. Along with this, we will also dig into the major sources of Gomez’s income and her salary from projects outside of music.

    Key Takeaways

    • Selena Gomez will soon join the billionaire list as her net worth is $800 million as of 2024.
    • She started earning at a young age thanks to her work in multiple Disney series.
    • The actress has made nearly $12 million from her recent show, Only Murderers in the Building.
    • In 2020, the singer established her beauty line, “Rare Beauty,” which made $60 million in only a year of running.
    • Since 2020, the artist has been living in a 4.9 million mansion located in Los Angeles.

    Is Selena Gomez A Billionaire?

    Although her fortune is growing every day, Selena is not a billionaire, yet – she is soon to be one, though. The singer has brought tremendous growth in her wealth in the past few years.

    Selena Gomez’s Net Worth

    Selena Gomez has a net worth of a staggering $800 million. Gomez’s present net worth sets her only $200 million away from establishing herself as a billionaire along with actors and singers such as J.K Rowling and Rihanna.

    Selena Gomez during a photoshoot.
    Selena is a to-be billionaire with a net worth of $800 million as of [write_year].

    What are Gomez’s Major Income Sources?

    As everyone knows well how prominently established the actress is today, Selena has achieved success in each of the fields she has been in. The major sources of income of the actress are as follows:

    • Television Shows (Acting and Producing)
    • Music
    • Rare Beauty Cosmetics
    • Brand ambassador for popular brands
    • Social media influencer and sponsor

    Let’s talk about her regular income from each of her sources.

    Selena’s Income Through Television Shows

    The 31-year-old singer started her career at the early age of 7. Her very first series, Barney & Friends (The first episode aired in 1992) gave her $3000 per episode with a total of $39,000 by the end of it.

    Selena got her biggest breakthrough from Disney with the leading role in Wizards of Waverly. Disney paid her around $30,000 at the start which eventually raised to $3.18 million by the end of 106 episodes.

    How Much Has She Made From Her Recent Work in Only Murderers in the Building?

    Gomez is making a decent income from her recently aired mystery comedy-drama series, Only Murderers in The Building. According to Variety, her fellow stars make $600k per episode, indicating that she making at least that much or even more.

    The series has completed 20 episodes which makes the singer’s income nearly $12 million so far.

    Gomez is Also An Established Producer

    Selena has been continuously giving hit shows under her own production company, July Moon Production. She has worked as an executive producer for the company and has given 11 successful projects which include popular shows such as 13 Reasons WhySelena+Chef, and Only Murderers In the Building.

    It is not year clear how much the actor and producer makes from producers. But we can assume that she makes pretty well from it.

    How Much Does She Make From Her Music Career?

    The actor-singer has settled in the music industry since 2013. She has three solo albums and a compilation album. Since her last album’s release, Gomez has made $15 million from her solo as well as compiled songs.

    Gomez’s wealth made it to heights with the start of her music tours. She reportedly made $35.3 million for her first album, Star Dance‘s tour. Similarly, her Revival Tour made $35.6 million in 2016.

    Selena Gomez’s Rare Beauty Brand Earned Millions Since Its Release

    Selena’s biggest income at present comes from her beauty brand, Rare Beauty. It made a grand earning of $60 million within the first year of its launch in 202o. Her best seller is the Soft Pinch Liquid Blush which alone made $70 million in 2022.

    Selena Gomez promotes her Rare Beauty product.
    Gomez’s Rare Beauty made $60 million in the year of its establishment.

    The Rare Beauty products range from $4-$60 per item on average. It is the third most successful cosmetic brand today.

    Selena Earns Massive Money from Sponsored Instagram Posts

    She also makes good money from her social media platform through her personal as well as sponsored content. She reportedly earns $2.558 million for each of her sponsored posts.

    Gomez also has earned millions of dollars through her past brand partnerships. In 2016, Coach paid her $10 million to partner along with them. Similarly, in 2017, she got $30 million by working with Puma.

    Selena Gomez Lives In a $4.9 Million Worth Home

    The millionaire actress and singer lives in Encino, Los Angeles in a $4.9 million mansion. Selena moved into the 11,500-square-foot house in 2020.

    The house consists of a recording studio, a large pool, a wine cellar as well and a gym. It was built in 1989 and was previously owned by singer Tom Petty.

    Today, Selena is a successful actor, singer, producer, businesswoman as well and philanthropist who lives a peaceful life in her mansion. In her early 30s presently, she is living a wealthy and single life.

    The Artist’s Mental Health Startup Receives Large Donations

    On top of being a singer, actress, and entrepreneur, Selena also involves herself in philanthropic causes. She launched her mental wellness site, Wondermind in 2022, and the startup has accumulated a huge amount of donations.

    The site makes a ton of money from donations from several people as well as companies. As per Forbes, Serena William‘s firm, Serena Ventures donated $5 million to the singer’s company.

    One percent of Gomez’s cosmetic line, Rare Beauty income also goes to the Rare Impact Fund which also contributes to the Wondermind.

    According to Entrepreneur, Wondermind had a $100 million valuation in August 2022.

    All of the donations contribute to the mental fitness ecosystem of Wondermind, from their CPG products to their daily online content to make mental health accessible to everyone.