Selena Gomez’s Billion-Dollar Rise Contrasts with Mom’s Struggles to Save Startup
Despite being backed by a billionaire co-founder, Mandy Teefey—Selena Gomez’s mother and CEO of mental health startup Wondermind—was reportedly forced to take a loan against her home to cover employee salaries. According to Forbes, the company began missing paychecks in March as funding dried up, leaving around 15 employees and various vendors unpaid.
While one missed paycheck has since been settled, significant debts reportedly remain—such as $60,000 owed to a PR agency. Wondermind has stated that the situation has been “rectified,” promising to make the remaining payments soon.
In March, Teefey sent an email to staff notifying them of an immediate halt to healthcare benefits, asking them to opt into COBRA as the startup tried to secure additional funding. The message came during a company-designated wellness day, further frustrating staff.
The startup attributed the crisis to “growing pains” typical of early-stage companies, adding that they’re entering a “new chapter.” However, insiders suggest problems began in early 2023 when Teefey assumed full CEO responsibilities. Despite her strong background in entertainment management, concerns were raised internally about her startup leadership experience.
Sources also claimed that Teefey turned down major deals—like a multimillion-dollar Airbnb partnership—because they required Gomez’s involvement. Wondermind’s chief of staff, Emma Wright, disputed these claims, defending Teefey’s leadership and focus on protecting jobs.
Founded in 2021, Wondermind raised $5 million in 2022. Meanwhile, Selena Gomez’s fortune has skyrocketed, driven mainly by her booming beauty line Rare Beauty, which helped her reach a $1.3 billion net worth in 2024.
While Gomez co-founded Wondermind, her role in handling the current crisis appears minimal. This has led many to question why she didn’t step in to stabilize the startup when employee livelihoods were at risk—especially for a company built around mental wellness.
Teefey’s personal sacrifice is commendable, but the absence of visible support from Gomez has raised eyebrows. For a wellness brand with such high-profile backing, the crisis reflects a disconnect between public image and internal reality.
