Selena Gomez is a successful actor, singer, entrepreneur, and philanthropist. The 31-year-old is soon going to become a billionaire, with her current net worth being USD 800 million.

Selena Gomez, the talented actress, singer-songwriter, and former Disney Channel star, spent her 31st birthday amid immense love and support from her fans and loved ones. As she hit this milestone, she celebrated her birthday in style, dressed in a dazzling red leather embellished strapless mini dress from Bottega Veneta and Magda Butryum sandals styled by Dominic J. West, reports Vogue. She also took to social media to express her gratitude to her 426 million followers, sharing snippets from her star-studded birthday celebration.

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While we join in the celebrations, let’s delve into the remarkable financial success that has contributed to Selena Gomez’s eye-watering net worth, a staggering $800 million, making her the highest-earning Disney alum and even surpassing her close friend Taylor Swift’s impressive net worth of $600 million.

A high-profile career

Selena Gomez’s net worth is a culmination of various endeavors throughout her career. Her journey to fame began at the young age of ten when she made her screen debut on the show Barney & Friends. Subsequently, her roles in hit Disney shows like Hannah Montana and Wizards of Waverly Place catapulted her to stardom.

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As she transitioned into her adult years, Gomez diversified her portfolio as an actress, featuring in projects like Spring Breakers and Only Murders in the Building, a beloved show on the Hulu platform. Notably, she is also a producer on Only Murders as well as other successful series like 13 Reasons Why, Living Undocumented, and Selena + Chef, which earned her a Daytime Emmy nomination.

Musical success

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Apart from her acting prowess, Selena Gomez has seen remarkable success in the music industry. She started her musical journey with the band Selena Gomez & The Scene before embarking on a successful solo career. Her discography includes three number-one albums and nine top-ten singles, solidifying her status as a music icon. Both of her first two solo studio albums, Stars Dance (2013) and Revival (2015) hit No. 1 on the Billboard 200.

Entrepreneurial ventures of Selena Gomez

Gomez’s biggest money-making ventures lie in her entrepreneurship endeavors. In 2019, she founded Rare Beauty, a cosmetics brand that quickly gained immense popularity, raking in nearly $60 million in revenue within its first year. Her association with high-end brands like Coach, Louis Vuitton, Pantene, Adidas, and Puma has further bolstered her financial standing.

The star’s business acumen extends beyond the beauty and fashion industry. She has invested in brands like Serendipity Ice Cream and GoPuff and collaborated on her line of cookware with Our Place. These ventures, combined with her own brand endorsements, have been instrumental in significantly contributing to her net worth. Gomez also cofounded the mental health startup, Wondermind with her mother, Mandy Teefey, and Daniella Pierson, the founder of the pop culture newsletter, Newsette. The startup raised $100 million in funds, capitalizing on the mindfulness trend, per Fortune.

The power of social media

Selena Gomez’s massive following on Instagram, where she boasts a whopping 426 million followers has translated into substantial financial gains. Each of her sponsored posts reportedly earns her $1.7 million, making her one of the most influential social media personalities in the world.

Advocacy for mental health

Beyond her professional success, Selena Gomez has used her platform to advocate for mental health awareness. Gomez has been a prominent voice in the sphere of mental health, running her mental health startup, Wondermind, and being actively involved in the Rare Impact Fund, a nonprofit that focuses on increasing access to mental health services for young people. For her birthday, Selena urged her fans to contribute to the fund, demonstrating her genuine passion for making a positive impact on mental health issues.