Forbes denies Selena Gomez is a billionaire

Forbes estimates singer and actress Selena Gomez ‘s fortune at $700 million, not yet entering the billionaire ranks as previously reported.
Singer and actress Selena Gomez. Photo: Hulu
Recently, Forbes Magazine attracted attention when it published an article with the title: “Why isn’t Selena Gomez a billionaire?”.

In the post, Forbes talked about the financial situation of Wondermind Company founded by the American singer and actress, as well as the truth about Selena’s assets that were said to exceed 1 billion USD in a previous financial analysis.

In 2024, Bloomberg announced that Selena Gomez became a billionaire with an estimated net worth of $1.3 billion. But according to the latest Forbes report, her fortune is only at $700 million.

Still, the former Disney star is on the list of America’s richest self-made women and one of the wealthiest celebrities.

According to Forbes, the majority of Selena’s wealth comes from her 51% stake in Rare Beauty, a cosmetics company she founded in 2019. The company once made waves with its liquid blush. Rare Beauty reported $367 million in revenue in 2023.

Forbes magazine valued Selena’s cosmetics company at around $1.3 billion, based on feedback from beauty industry analysts. But experts also noted that the company’s valuation has dropped in recent months.

In addition to Rare Beauty, Selena Gomez has earned about $90 million in profits over the years from TV shows, music, brand advertising contracts and tours.

Of that, $30 million Selena received from a 2017 collaboration with Puma. An estimated $24 million of her earnings came from the Emmy-winning comedy series ” Only Murders in the Building ,” on which she served as executive producer and starred.

Selena also had a prominent role in the Oscar-nominated film “Emilia Pérez,” which earned her a Golden Globe nomination for Best Supporting Actress in a Motion Picture. And she’s an executive producer on the controversial Netflix hit series “13 Reasons Why.”

The 32-year-old singer’s real estate has also attracted attention. In 2020, Selena spent nearly $5 million on her home in Encino. Most recently, she bought a $35 million estate in Beverly Hills with her fiance and music producer Benny Blanco .
Selena Gomez is one of the famous Disney stars. Photo: Disney producer
Previously, Forbes reported that Wondermind – the mental health company Selena Gomez founded with her mother in 2021 – faced tens of thousands of dollars in debt.

Wondermind’s CEO even told employees that she had to mortgage her own house to keep the struggling startup afloat.

It’s unclear how much of Selena Gomez’s own money she has invested in Wondermind over the years, but the company has struggled to find funding and has fallen behind on employee salaries.

According to some employees, Selena has been largely absent from Wondermind’s work due to her busy personal schedule. She has been filming the fifth season of “Only Murders in the Building” in New York and focusing on her cosmetics company Rare Beauty.

Experts predict that this cosmetics company can achieve success beyond Selena’s reputation.