It appears that speculation about Selena Gomez‘s billionaire status has emerged following reports that her mother took out a loan using their home as collateral. This has led many online users to question Selena’s wealth, given her mother’s need for financial assistance from an outside source.
Hey there! As a fellow gaming enthusiast, let me spill the beans on what’s been buzzing around recently regarding that popular singer and her mom’s financial decision. So, the singer has been making headlines for various reasons, but the latest chatter revolves around her sudden popularity. Now, you might be wondering why her mother decided to take out a loan. Well, it turns out that she needed some extra cash to help finance her daughter’s unexpected rise to stardom. The costs of promotions, album production, and other expenses associated with the music industry can quickly add up, making it challenging for even successful artists to cover everything on their own. So, in a nutshell, the loan was taken out to support the singer’s burgeoning career and help her continue to shine brighter than ever!
Selena Gomez’s mother take out loan sparking question on billionaire status
The mother of the “Love On” singer (Selena Gomez) recently used her home as collateral to secure a loan, which she then used to support Wondermind, Selena’s mental health startup. Thanks to Mandy Teefey’s efforts, the company has been able to pay back one out of two delayed salaries to its 15 employees.
Despite not having settled its debts, the company is yet to pay freelancers and suppliers. Currently, it owes a substantial sum to these parties, with reports suggesting tens of thousands of dollars are outstanding. Additionally, they still need to pay around $60,000 to their PR firm.
In January 2023, trouble with the startup, Wondermind, started emerging. This was when Gomez’s mother assumed the role as its sole CEO. Correspondences obtained by Forbes revealed the grim state of the company, with Teefey notifying her staff that their healthcare benefits would be withdrawn in one of the messages.
As a devoted fan, I’ve noticed some buzz among us about Selena Gomez’s billionaire status, particularly given recent developments involving Wondermind and Mandy Teefy’s financial choices. However, let me clarify that Selena joined the exclusive billionaires club back in September 2024, boasting a reported net worth of an impressive $1.3 billion, according to the latest updates I’ve gathered.
As reported by Bloomberg, the primary source of Gomez’s wealth is her Rare Beauty cosmetics company, which she established in 2020. Furthermore, her earnings from acting roles, singing projects, real estate investments, and lucrative partnerships all contribute significantly to her substantial net worth.
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2025-05-12 23:22