If Selena Gomez is worth about $700 million, why is her and her mom’s mental health company, Wondermind, reportedly in “dire financial straits” right now?
The “Bluest Flame” singer launched the “mental fitness ecosystem” with her mom, Mandy Teefey, and The Newsette CEO Daniella Pierson back in 2021. Per the website, Wondermind is an “easy, inclusive space where people can come together to explore, discuss, and navigate their feelings.” The site offers worksheets, mental health-related articles, podcast recommendations, gift guides, vulnerable Q&As with celebrities (including Selena), and more.
In 2021, Selena spoke to Entrepreneur about her hopes for Wondermind and working with her mom. “Something I’ve always tried to do in my career is make sure I lend my voice to places where it matters,” she shared. “And I have to give my mom credit for that because she taught me everything.”
Despite the meaningful mission and Selena’s name attached, the company is apparently in major financial distress. Forbes reported that Mandy had to take out a loan against her home to help cover the company’s debts. The situation is a bit puzzling because, well, Selena Gomez is one of the richest people in the world. So, what’s going on with Selena Gomez, Mandy Teefey, and Wondermind? Here’s what we know so far.
Selena Gomez And Mom Mandy Teefey Wondermind Drama, Explained
Wondermind Financial Setbacks, Explained
According to the Forbes article, Wondermind ran out of money and stopped paying employees, vendors, and freelancers in late March. The outlet reported that the company is being “kept afloat” by Mandy, who told employees that she took out a loan to pay the debts. Per the report, freelancers and vendors are “owed tens of thousands (if not hundreds of thousands) of dollars.” Yikes. According to current Wondermind employees who “spoke on the condition of anonymity for fear of retribution,” the company owes $60,000 to a PR firm in addition to all the money staff members are owed.
A spokesperson for the mental health company claimed that the company has “rectified” the situation and that employees and freelancers will receive their checks on May 12.
“Like many startups, Wondermind has been working through its own set of growing pains,” the spokesperson told Forbes in a statement. “In the coming days we will be transitioning into a new chapter for Wondermind, and continuing our important work in mental fitness that helps hundreds of thousands of people.” Mandy and Selena did not share a comment for the article.
What’s Going On With Selena Gomez And Her Mom, Mandy Teefey?
Soo, are Selena and her mom good? Well, apparently Selena’s role at Wondermind, Chief Impact Officer, is pretty much for show. “We have to fight with her agent to get her to do anything for us and she rarely does,” a Wondermind employee told Forbes. “And by ‘do anything’ I mean post something on Instagram or interview her for an article so it does good traffic.” They claimed that Selena only met with staff one time in the last three years. However, a spokesperson for Wondermind disagreed, emphasizing that that characterization of Selena’s involvement is “absolutely not true.”
Following the Forbes report, a source told People that Mandy did not take out a loan to pay the outstanding debts. The insider also claimed that Selena immediately helped when she learned about the financial situation. “Selena has invested millions of dollars over the years into Wondermind to support her mother and their shared passion for mental health, including when she was alerted about the most recent financial setback, and immediately invested more money as she’s not involved in the day-to-day operations,” the source shared.
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Based on Selena’s recent Instagram post, she and Mandy definitely aren’t feuding! For Mother’s Day, the actress shared a carousel featuring photos of mothers in her life. In the first photo, Mandy naps next to a baby Selena. “Mothers hold their children’s hands for a short while.. but their hearts forever and ever,” Selena wrote in her caption. “One of my favorites. And I love all the mothers in my life.. 🩷.” Mandy commented, “Love you more!!! XOXO.”
Hopefully, Wondermind will be thriving soon with Selena’s help!
