The young and talented Selena Gomez has been one of the more controversial figures in the entertainment world during the period from 2010 to 2014. Her on and off dating relationship with Justin Bieber is always good for a tabloid headline. But we’re just not sure if this is for publicity or if she simply is not ready to put the brakes on her businesses to spend the time and energy necessary. What is certain is that she has done most everything right when it comes to being an entertainer and business woman, as her net worth of $50 million demonstrates.
It may seem strange, but Selena Gomez is approaching her 16th year in the entertainment industry. She achieved her first part as an actress on the well-known PBS show, “Barney and Friends” playing the role of Gianna. Obviously that money was tucked away for future use, but as her fans have seen that money is just a drop in the bucket when compared to her current net worth that exceeds $50 million.
How much did she make for that first child acting gig? About $3,000 per episode, which was the standard rate at the time. That may not seem like a lot given her current estimated net worth, but it is fair to ask how many preteens make that kind of money.
While she got her start as an actress, she has made a bundle of money from her singing and dancing talents, some which have led to endorsement contracts from major and elite international brands. But in moving her career forward she did not forget her acting roots. That $3,000 per episode for “Barney and Friends” grew to $30,000 per episode for taking the leading role in the Disney television production of the “Wizards of Waverly Place.”
The tally for these two TV series is a grand total of about $3.3 million, getting about $100,000 for her role as Gianna, and for the 106 episodes of “Wizards of Waverly Place” it totals $3.18 million. As they say you have to start somewhere, and $3 million is a good place.
One estimate has her making roughly $6.8 million a year since 2009, totaling 90% of her current net worth. The year prior to that she started her own movie production company, July Moon Productions, which have has some successes and some flops, but serves as a way to both elevate her revenues and use to shelter some of her money from the Tax Man. Of course, she spent some of this income on her Hollywood lifestyle, but also opened the door on investments such as her $2.25 million home in Studio City, California.
Where much of her money rolls in is from her singing and music albums. She has made about $15 million in music sales since she started professionally singing back in 2008. In the first year, her net worth jumped from $250,000 to $8.5 million. By 2014 she quadrupled that number.
Gomez has sold 24.3 million songs and 3.4 million albums. Her list of albums and their total sales includes:
- Kiss and Tell – 924,000
- A Year Without Rain – 814,000
- When the Sun Goes Down – 707,000
- Stars Dance – 407,000
- For You – 112,000
When we are talking about music income we excluded her concert tours. Her Star Dance concert tour grossed an estimated $11 million.
In contemporary business, your brand is everything because it opens the doors for product endorsements, which is a great way to make passive income. Selena has contracted with fashion designer Coach to promote their purses and fashion accessories to the tune of $10 million. Then there is Pantene, which she has earned a minimum of $3 million for her brand and efforts. And as early as 2010, when she was just getting started increasing her net worth, she also launched her own fashion line – Dream out Loud.
No net worth computation would be complete without including revenue from social media. Currently she earns at least $550,000 a year from social media endorsements. That may not seem like much with all those huge number we put up earlier, but every half-million adds up.
Though all of these number are impressive, what it most impressive is that Selena Gomez was diagnosed with lupus in 2013. She needs to take occasional breaks from her entertainment career to recharge, but she continues to amaze fans with her wide range of talent. But running down the list of the wide range of sources of income she has, it is equally clear that she has a good sense of business and makes the most out of every opportunity. Success may be measured by money, but Selena Gomez’s net worth should more accurately be estimated by the monetary value of her assets and the potential upside of her acting, singing, musical, and business talents.