Selena Gomez’s Real Estate Journey and $800 Million Net Worth
Selena Gomez made her initial appearance on American screens when she was just 10 years old, taking on a role in the children’s show “Barney & Friends.” Her subsequent rise to stardom occurred during her time on Disney Channel’s “The Wizards of Waverley Place” from 2007 to 2012, establishing her as a global sensation. Her star power has only continued to grow, with the Texas-born talent making her mark as an actor, singer, and entrepreneur. Currently, Selena boasts the title of being the most followed woman on Instagram, with an astounding 400 million followers and counting.
Selena’s most recent project is her role in the series “Only Murders in the Building,” where she stars alongside Martin Short and Steve Martin. Reflecting her character’s lively personality, Selena currently resides in the Upper East Side of New York City, a fact she disclosed in a recent interview with Elle Magazine. In her own words, “Thank God I can… I love living with the older generation, so I’m on the Upper East Side. It’s very nice for that. I’m currently in a little cave, and it’s so lovely and private.” Indeed, her current residence remains discreet, with limited public information available about her home.
Let’s take a trip down memory lane to 2011 when Selena Gomez and Justin Bieber were navigating their on-again-off-again relationship. During that period, Selena purchased her first significant property, a $2.2 million mansion located in Tarzana, California. According to the LA Times, this 6,630 square-foot home boasted a “traditional style” with two stories, a guesthouse, and an elegantly designed swimming pool.
During her time at this residence, Selena decided to expand the property by an additional 2,000 square feet, conducting various remodeling and renovation projects. Eventually, she chose to part ways with the property, selling it to Iggy Azalea for an impressive $3.45 million.
Just three years later, in 2014, Selena Gomez made a significant real estate move by acquiring a property in Calabasas. Transitioning from her previous Tarzana residence, Gomez invested $3.69 million in a luxurious Mediterranean-style mansion, featuring five bedrooms, six bathrooms, and a range of exquisite amenities. The house boasted a gym, an underground wine cellar, and a home cinema, providing a lavish lifestyle within its walls. Outside, the property was equally captivating, with a dining area equipped with a pizza oven, a serene swimming pool, and an abundance of picturesque landscaping.
Gomez resided in this splendid mansion for just one year before deciding to put it on the market in 2015, initially listing it for $4.5 million. However, even celebrities are not impervious to the ever-fluctuating nature of the real estate market. Consequently, in 2016, Gomez found herself compelled to lower the asking price to $3.3 million after approximately 12 months on the market. Eventually, the property found a new owner in the form of French Montana, who made the additional investment of installing a $400,000 recording studio in the guest house. This strategic upgrade, combined with market trends, allowed him to sell the property for a substantial profit, fetching over $6 million in 2020.
Fort Worth, Texas
Towards the end of 2015, Selena Gomez made a significant real estate investment by acquiring a sprawling mansion spanning 10,016 square feet in her hometown. Many media outlets speculated that her decision to return to her roots was influenced by her Lupus diagnosis, which she had received around the same period. In a heartfelt Instagram post in 2018, Selena expressed her affection for the place, saying, “I visit this place every chance I get… I love you Grand Prairie.” The mansion boasted luxurious amenities such as an eight-seat home theater, a saltwater swimming pool, a golf green, and even a thrilling waterslide.
However, this seemingly extravagant purchase proved to be a less-than-wise real estate choice. When Selena Gomez decided to put the house on the market in 2016, she encountered difficulty finding potential buyers. Originally, the mansion was listed for a substantial $3.499 million, but it eventually sold for a significantly reduced price of $2.7 million, and this transaction took more than two years to finalize, concluding in October 2018.
Studio City, California
In 2017, Selena purchased a charming single-story bungalow in Studio City, California, featuring four bedrooms, four bathrooms, a lovely library, and a spacious main bedroom with two walk-in closets and a spa-like bath. The property also included a swimming pool, a built-in barbecue area, and lush fruit trees and vegetable beds. In 2020, Selena sold the house for $2.368 million, slightly more than her initial purchase price of $2.25 million, emphasizing its enduring value.
In 2020, Selena made a significant decision to upgrade her living space, opting to move into the lavish Encino residence once owned by the legendary musician, Tom Petty. This sprawling estate boasts six bedrooms and an impressive ten bathrooms, and it holds a rich history as it was originally custom-built by the iconic singer-songwriter and his first wife, Jane Benyo, back in 1989. This construction came after a tragic arson fire had consumed the original Tudor-style mansion that once occupied the same grounds. Covering a vast expanse of 37,752 square feet, this mansion is an epitome of seclusion and luxury.
Nestled on an expansive parcel of nearly one acre, the property exudes an aura of tranquillity, ensconced at the terminus of a private driveway that is gracefully adorned with a lush canopy of trees. Situated within the exclusive Rancho enclave of the neighborhood, this abode offers not only a sense of serenity but also a sense of opulence.
Inside the mansion, there are numerous amenities that enhance the quality of life for its fortunate occupants. These include a well-stocked wine cellar, a state-of-the-art gym, a luxurious massage room, and a splendid outdoor pool featuring a cascading waterfall that flows gracefully into a serene, meandering stream. To top it all off, the residence is equipped with a vocal booth that occupies the same hallowed space where Tom Petty once had his original recording studio.
What is Selena Gomez’s net worth?
The versatile entertainer, known for her dual talents as a singer and actor, has been in the industry since the tender age of ten. Consequently, it comes as no shock that her accumulated wealth has reached a substantial $800 million over the years. As reported by Celebritynetworth.com, a significant portion of her fortune is attributed to the remarkable success of her cosmetics brand, Rare Beauty. She introduced this venture in September 2020 through an exclusive collaboration with the renowned beauty retailer, Sephora.
- Selena Gomez’s Rise to Stardom: The article begins by highlighting Selena Gomez’s early career, from her start on “Barney & Friends” at age 10 to her breakthrough on Disney Channel’s “The Wizards of Waverley Place.” She’s now a global sensation with a massive Instagram following of 400 million.
- Selena’s Real Estate Journey: It delves into her real estate ventures, including properties in Tarzana, California, Calabasas, California, Fort Worth, Texas, and Encino, California. It discusses the unique features of each property and her experiences with buying and selling them.
- Insights into Her Latest Residence: Selena’s current residence in the Upper East Side of New York City is briefly explored, providing a glimpse into her lifestyle and preferences for privacy.
- Selena’s Net Worth: The article concludes by revealing Selena Gomez’s net worth of $800 million, with a significant portion of her wealth coming from her cosmetics brand, Rare Beauty, launched in collaboration with Sephora in 2020.
Micajah McGregor, Editor in Chief of FanFest.com and renowned entertainment journalist, graduated from USC with a focus on Journalism and Film Studies. With an MBA from The Wharton School, he began his career at “PopCulture Pulse” and has been instrumental in shaping FanFest into a prime entertainment news source. Known for his financial analysis of celebrity net worths, Micajah received the ‘Digital Editor of the Year’ award in 2018. He’s also an active blogger, sharing his passion for superhero films and ’90s TV. Contact him at [email protected] for engaging entertainment insights.