Selena Gomez brushes off financial crisis claims at Disney event after her billionaire status was debunked
Selena Gomez looked glamorous while attending a Disney event on Tuesday, hours after Forbes debunked her billionaire status.
The actress, 32, wowed in a chic black dress at the 2025 Disney Upfront presentation at Javits Center in New York City.
Her floor-length gown showed off her toned arms and featured a slit on the side. The star wore her dark tresses slicked into a bun.
She was joined by her Only Murders in the Building co-stars Martin Short, 75, and Steve Martin, 79.
Earlier on Tuesday, Forbes refuted her billionaire status, amid reports that her health startup Wondermind is in financial crisis, having allegedly missed multiple payments to associates.
Though in 2024, Bloomberg reported Gomez' net worth to be $1.3 billion, Forbes now puts it at roughly $700 million.
On Monday, a source confirmed that nine Wondermind employees were laid off with two weeks' severance, leaving only four employees.
Forbes reported that the startup, founded by Gomez in 2021 with her mother Mandy Teefey and former partner Daniella Pierson, owed tens of thousands in outstanding debts, which the company claims have since been settled.
Selena's mom told employees that she'd personally taken out a loan against her own home to support the struggling startup.
It's not clear how much of her own funds Gomez has contributed to Wondermind.
Dailymail.com has reached out to Teefey, Wondermind and reps for Gomez for further comment on the Forbes report.
Despite her high net worth, which places the former Disney star among the wealthiest self-made women entrepreneurs, the breakdown of her fortune may explain her limitations to heavily invest in Wondermind.
Selena's most significant asset is her estimated 51% ownership in her makeup line, Rare Beauty.
Rare Beauty generated $367 million in revenue in 2023, according to a California state filing.
Forbes estimates the company's value at around $1.3 billion.
Selena's mom told employees that she'd personally taken out a loan against her own home to support the struggling startup
Beyond Rare Beauty, Gomez has reportedly earned an estimated $90 million gross from her various ventures, including TV shows, music, endorsements, and tours.
That $90 million in gross earnings includes a reported $30 million from her 2017 Puma collaboration and an estimated $24 million for her role as star and executive producer of Hulu's Emmy-winning comedy series Only Murders in the Building.
She also had a significant part in the Oscar-nominated film Emilia Pérez, earning a Golden Globe nomination for best supporting actress, and executive produced the Netflix hit series 13 Reasons Why.
She purchased a $5 million home in Encino in 2020, and recently bought a $35 million Beverly Hills mansion with fiancé Benny Blanco.
Gomez started her career at 10, playing Gianna on 'Barney and Friends' from 2002 to 2004.
Her breakthrough came in 2007 with the lead role of Alex Russo in Disney Channel's 'Wizards of Waverly Place.'
She then transitioned to music, releasing her first album in 2008 and six more since, the latest a collaboration with Blanco in March.
Wondermind, launched in 2021, and secured $5 million at a $100 million valuation in a Series A funding round.
Despite the initial success, the company has faced challenges in subsequent funding.
A former employee revealed Teefey stated that she and Gomez had personally contributed $8 million by mid-2023.
Gomez 'is not involved in the day-to-day operations' at Wondermind.
She 'has invested millions of dollars over the years into [the company] to support her mother and their shared passion for mental health,' a source told People.
Still, Forbes reported that Wondermind owes freelancers and vendors a reported 'tens of thousands (if not hundreds of thousands) of dollars.'
A rep for the organization acknowledged to Forbes Saturday that the company had been dealing with 'growing pains,' the situation was subsequently 'rectified,' and changes have been made to ensure business will go on as usual - and that everyone gets paid on time moving forward.
'In the coming days we will be transitioning into a new chapter for Wondermind,' said the rep, 'and continuing our important work in mental fitness that helps hundreds of thousands of people.'
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