At the 2024 TIME100 Summit in New York City, renowned artist Selena Gomez spoke passionately about her beauty brand, Rare Beauty, emphasizing its commitment to mental health awareness. The brand, launched in Sept. 2020, has quickly risen to a $2 billion valuation, and, according to Gomez, there are no signs of slowing down. Selena Gomez’ net worth now stands at $800 million.
During a session titled “The Beauty of Impact,” moderated by TIME Senior Editor Lucy Feldman, Gomez, alongside Elyse Cohen, Vice President of Social Impact and Inclusion at Rare Beauty, shared insights into the brand’s mission-driven approach. “I didn’t want to enter the cosmetics world without a mission,” Gomez stated, highlighting the brand’s focus on fostering a community where mental health can be openly discussed.
Selena Gomez’ Rare Beauty, which she describes as her “pride and joy,” has made mental health advocacy a core part of its identity. The actor shared her personal experiences with bipolar disorder, which she publically revealed in her 2020 documentary, “Selena Gomez: My Mind & Me.” Gomez noted that understanding her mental health condition was “freeing” and underscored the importance of alone time in her mental well-being.
Cohen also shared her mental health priorities, emphasizing the power of community and storytelling in combating isolation. She detailed the achievements of the Rare Impact Fund, which has raised over $13 million to support youth mental health initiatives and partners with 26 organizations. Gomez has pledged that 1% of all Rare Beauty sales—not just profits—will go towards mental health action, demonstrating a firm commitment to making a tangible impact.
In addition to discussing Rare Beauty’s impact, Gomez opened up about her complicated relationship with social media. Selena Gomez’ Instagram followers reached 429 million, making her the most-followed woman on Instagram. Gomez recounted taking a four-year break from personally posting on Instagram, a period she described as “the most rewarding gift I gave myself.” She expressed the frustrations and pressures of social media, which occasionally led her to become defensive over the people she cares about.
The TIME100 Summit brings together leaders from various sectors to promote solutions for a better world. It features a roster of influential figures, including Elliot Page, Tory Burch, and John Kerry.