Selena Gomez, chart-topping singer and founder of makeup brand Rare Beauty, joined Taylor Swift and Rihanna this month as one of the few female vocalists to become a billionaire.
Gomez, 32, is the most followed woman on Instagram, with an audience of 424 million. Gomez primarily uses this large following to promote her makeup brand, Rare Beauty, which generates the largest majority of her wealth. The cosmetics company was launched in September of 2020, just months before Gomez went public with her diagnosis of bipolar disorder.
“I wanted to create a whole lane in the makeup world that was also centered around mental health,” Gomez said in a 2023 interview with Fast Company.
Gomez has not been afraid to share her story with bipolar disorder in recent years. In 2022, she released her documentary, “My Mind and Me,” which follows her journey learning how to manage her disorder.
“I had to hit my rock bottom and I had to do it at my time.” Gomez said in a SXSW panel discussing the documentary. “I’d like to think and hope that I’m in a better place now.”
Gomez has continued to bring light to those who are struggling with their mental health. In February 2022, Gomez co-founded a mental health organization with her mother, Mandy Teefy, and entrepreneur Daniella Pierson called Wondermind, which shares insightful advice on issues from therapy to toxic relationships.
“Through the years, we’ve each had our own mental health struggles,” the Wondermind website says. “One day, we were all talking about it and realized there was no easy, inclusive space where people could come together to explore, discuss, and navigate their feelings. So we thought, why not make it happen? And Wondermind was born.”
Gomez’s dedication to exploring and defending mental health has set her apart from other celebrities’ philanthropy. While Rare Beauty’s annual revenue of $350 million is short of Rihanna’s Fenty Beauty with an annual revenue of $582 million, it is Rare Beauty’s Rare Impact Fund that differentiates the two.
“The Rare Impact Fund was started by Selena Gomez as part of her commitment to addressing mental health and self-acceptance,” the Rare Impact Fund website says. “We are mobilizing $100 million in contributions for youth mental health.”
With both the Wondermind platform and the Rare Impact Fund, Gomez strives to use her following and prosperity to continue taking steps in the right direction for mental health advocacy.
“I find it empowering when I can speak or just hear others tell their story,” Gomez said in a Wondermind blog. “It’s not a scary place. What we’re building is so exciting, and I’m really grateful. I’m nervous… and excited.”
