What is Selena Gomez’s net worth? Singer’s mother Mandy Teefey reportedly took home loan to clear paychecks at their joint venture Wondermind

Selena Gomez and her mother, Mandy Teefey’s mental health startup, Wondermind, went through a bumpy ride in the recent past. The enterprise faced a financial crisis in March 2025, which made it difficult for them to pay the employees’ salaries.

According to a Forbes report from May 10, 2025, Mandy Teefey had to take a loan, keeping her home as collateral to pay back the salaries of as many as 15 employees. While a percentage of the employees’ dues have been paid off, vendors and freelancers have yet to be compensated.

The company allegedly owes a heavy amount to freelance writers, some of whom hadn’t received payment in over three months. A spokesperson from Wondermind told the publication:

“Like many startups, Wondermind has been working through its own set of growing pains.”

The spokesperson shared that they were preparing to begin a new phase for Wondermind in the days ahead and would keep focusing on their mission to support mental well-being. According to Celebrity Net Worth, Selena Gomez has a net worth of $1 billion.

Meanwhile, the company reportedly has an outstanding debt of $60,000 to a PR firm. Present employees claimed that the issues started in January 2023. They believed that Mandy Teefey lacked the necessary experience to run the business effectively.

According to them, she rejected key brand partnerships that wanted Selena Gomez, including a multimillion-dollar deal with Airbnb. Chief of Staff Emma Wright told Forbes:

“People who might have that opinion might not know what happens behind the scenes of negotiations.”

Sources said that Mandy Teefey did not take a loan, and Selena Gomez provided financial support

Amidst all these claims, People Magazine published an exclusive report on May 11, 2025, citing a source who shared that Mandy Teefey did not take any loan. According to the source, Selena Gomez has put millions of dollars into the company due to their shared commitment to mental health.

When informed about the company’s recent financial issues, she quickly provided more funds, even though she wasn't involved in its daily operations. To help keep the company going, Mandy Teefey also stepped in by offering a personal loan.

A Wondermind employee claimed they often had to negotiate with Selena Gomez’s agent to get her to contribute, such as posting on Instagram or doing interviews to boost traffic. The employee also said that Gomez rarely interacted with the team.

However, a company spokesperson denied this, stating that Selena Gomez’s contributions were significant. In contrast, Emma Wright praised Mandy Teefey’s leadership, saying she witnessed someone who consistently acted with grace and stayed committed to protecting employees’ jobs and helping the company move forward.

In the meantime, Gomez posted a heartwarming tribute to her mother on Mother’s Day on Instagram. Sharing pictures with her and Benny Blanco’s mother, the Calm Down singer wrote:

“Mothers hold their children’s hands for a short while.. but their hearts forever and ever. One of my favorites. And I love all the mothers in my life.”

In a 2021 interview with Entrepreneur, Selena Gomez talked about Wondermind and mentioned that throughout her career, she always aimed to use her voice in meaningful ways. She gave credit to her mother for teaching her the importance of doing that.

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