Selena Gomez Reveals Taylor Swift’s Game-Changing Advice for Business
UPDATE: Selena Gomez shared pivotal business advice from her billionaire friend, Taylor Swift, that has transformed her approach to running her billion-dollar beauty brand, Rare Beauty. Speaking at the Fortune Most Powerful Women Summit on October 25, 2023, Gomez emphasized the lasting impact of Swift’s words: “If you’re the smartest person in the room, you’re in the wrong room.”
This revelation underscores the importance of collaboration and mentorship in the business world. Gomez, who recently achieved a net worth exceeding $1 billion thanks in large part to Rare Beauty’s remarkable success, highlighted how surrounding herself with talented individuals is critical to her company’s mission.
Gomez conveyed her admiration for Swift, stating, “She is one of the most brilliant people I’ve ever met.” Their friendship, which blossomed during their teenage years, has been a source of support and guidance. Gomez noted, “I’m not sure what I would say I’ve done for her other than been there as a friend, but one thing stuck out to me…”
The Rare Beauty founder explained that her initial entry into the beauty industry was met with skepticism. “I think a lot of people would have preconceived ideas of what I’m good at,” she said, reflecting on the challenges she faced as a musician transitioning into business. However, her resolve to make a difference remains unshaken.
Gomez’s focus on creating a supportive environment is evident in her management style. “There’s no dumb question. You have to learn and not be afraid of all the things that you might lose out on,” she stated, encouraging aspiring entrepreneurs to embrace curiosity and collaboration.
Recent reports from Bloomberg confirmed Gomez’s billionaire status, making her one of only five living musicians alongside legends like Jay-Z and Rihanna. As of now, Forbes estimates Taylor Swift’s net worth at a staggering $1.6 billion, further solidifying her position among music industry elites.
Their enduring friendship, initiated while they both dated Jonas Brothers in their youth, has evolved into a powerful alliance in the world of business. Gomez humorously remarked, “She and I like to say the best thing we got out of those relationships was each other.”
With this latest revelation, Selena Gomez continues to inspire many by demonstrating the power of mentorship and the importance of surrounding oneself with visionary thinkers. This developing story highlights how collaboration can lead to unprecedented success in the competitive beauty industry.
Stay tuned for more updates on Selena Gomez’s journey and insights from the Fortune Most Powerful Women Summit.
