Selena Gomez has credited her close friend Taylor Swift with providing a single piece of business advice that helped the Hollywood actress, singer, and entrepreneur grow her cosmetics brand, Rare Beauty.
Speaking at Fortune's Most Powerful Women conference in Washington, DC, on Oct. 15, Gomez revealed that Swift told her, “If you're the smartest person in the room, you're in the wrong room.” Gomez explained that she now surrounds herself with “really incredible people” and isn't afraid to ask questions.
🎥 | Selena Gomez opens up about the best advice Taylor Swift has given her at the Fortune Most Powerful Women Summit:
October 15, 2025
“She said that if you're the smartest person in the room, you are in the wrong room." pic.twitter.com/O84C6v8BP5Founded in 2019 and launched in 2020, Rare Beauty has become a cornerstone of Gomez's financial success. According to Fortune, the brand was valued at an estimated $2.7 billion in mid-2025, making Gomez one of the world's youngest self-made billionaires. A substantial portion of the wealth of the actress comes from her stake in the company.
The Bloomberg Billionaires Index first ranked Gomez in September 2024, reporting her net worth at $1.3 billion, largely due to Rare Beauty. Bloomberg also added that she has other ventures, including brand partnerships, acting roles, and a mental-health startup, which could help maintain her wealth even if she steps back from the public eye.
Mental health is a major focus for Gomez. In 2021, she co-founded Wondermind, a mental health and wellness platform, with her mother, Mandy Teefey, and Daniella Pierson. The company, though, reportedly faced financial difficulties this year, resulting in missed paychecks and layoffs.
Gomez's path to fame began early. She appeared on Barney & Friends at the age of 10 before rising to stardom as a Disney Channel star in Wizards of Waverly Place, which concluded in 2012. More recently, she has starred in Hulu's Only Murders in the Building.
Unlike her friend Taylor Swift, who became a billionaire in October 2023 largely through music and touring, Selena Gomez has utilised her talent, business ventures and hundreds of millions of social media followers to build her fortune.
Despite Bloomberg's report, Forbes earlier this year suggested Gomez's net worth was roughly $700 million, falling short of billionaire status.
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