Wondermind, the organization focused on mental health that the renowned artist Selena Gomez He co -founded with his mother, Mandy Teefey, would be going through serious economic difficulties.
Reports of Forbes magazine revealed that Teefey, who serves as executive director of the Foundation, would have resorted to a mortgage on his personal property to cover the salaries of the company’s team.
It is estimated that, by March 2025, Wondermind accumulated debts for hundreds of thousands of dollars, including a considerable sum of $ 60,000 owed to a public relations agency.
The publication details that Teefey was seen in a critical situation when, apparently, the Foundation began to run out of liquidity to deal with the payments of its approximately 15 employees, without considering external suppliers and collaborators.
Despite this adverse financial panorama, a Wondermind spokesman said that economic problems have already been remedied and that all pending payments will be completed shortly.
Founded in 2021, Wondermind aims to promote “mental health” through the creation and dissemination of educational content, such as podcasts and informative articles.
The company reached an assessment of 100 million dollars in 2022 and has received investments of important funds such as Serena Ventures, Lightspeed Venture Partners and Capital Sequoia.
Although it has been reported that Mandy Teefey managed for years her daughter’s successful career in cinema and television, sources close to the company suggest that some employees considered that she lacked the necessary strategic vision to boost business growth.
Despite its remarkable success in other ventures, such as its Cosmetics brand Rare Beauty, Selena Gomez does not participate directly in Wondermind’s daily operations. However, he has pledged to provide support to the company and his mother at the moment challenging.
It should be noted that Selena Gomez reached the status of multimillionaire in September 2024, with a net worth estimated at 1.3 billion dollars, according to Bloomberg.
Much of his fortune is attributed to the success of Rare Beauty, launched in 2020. However, her careers as a singer and actress, her real estate investments and sponsorship agreements have also contributed significantly to her wealth.
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