Selena Gomez, the multi-talented actress, singer, and now billionaire entrepreneur, is using her significant wealth and influence to make a lasting impact on youth mental health. With a net worth estimated at $1.3 billion, driven largely by her cosmetics brand Rare Beauty, alongside endorsement deals with major brands like Puma and Coach, Gomez is positioned to have a profound effect on philanthropy for years to come. Her commitment to mental health advocacy has grown exponentially since the launch of the Rare Impact Fund in 2020, which focuses on providing critical support for mental health resources, particularly for young people.
Rare Impact Fund: Raising Millions for Youth Mental Health
In recent years, Gomez has elevated her philanthropic work, and the Rare Impact Fund has become a central vehicle for her efforts. The fund’s mission is simple yet vital: to break the stigma surrounding mental health while making mental health resources more accessible, especially for young people. Last year, Gomez’s star-studded Rare Impact Fund Benefit raised over $2 million. Despite the glitz and glamour of the event, Gomez remains deeply committed to the long-term impact of the fund, as demonstrated by her ongoing advocacy and focus on youth mental health.
When I spoke with her ahead of the inaugural benefit in 2023, Gomez shared her vision for the Rare Impact Fund. “We want to reach people that may feel unheard. I just want to get down into all of those areas and break down the stigma as much as I can and continue to share my platform,” she said. This statement exemplifies her dedication to not just raising awareness, but actively working to change the conversation around mental health.
The second annual Rare Impact Fund Benefit, held in late October, continued to build on its momentum. The event, buzzing with excitement, featured stands from major brands like Abercrombie & Fitch, Pacsun, and Pinterest, and culminated in a charity auction. During her time on stage, Gomez lightened the mood with a joke but quickly turned serious as she highlighted the work of key grantee partners supported by the Rare Impact Fund. She specifically mentioned Didi Hirsch Mental Health Services, an organization providing vital mental health and suicide prevention services since 1942. “I am very honored to be working with such incredible change makers,” Gomez said, recognizing the impactful work of the organizations she supports.
The event, like the year before, raised over $2 million, bringing the total funds raised by Rare Impact Fund to $15 million since its inception. However, Gomez and her team are quick to point out that the work of the Rare Impact Fund is far from over. As the youth mental health crisis intensifies nationwide, philanthropic efforts are still struggling to meet the growing demand for services.
Gomez’s Strategic Focus on Youth Mental Health
In the wake of a deepening mental health crisis, especially among young people, Gomez has positioned herself as a key advocate. The youth mental health crisis in the U.S. has been exacerbated by the pandemic, with young people facing increased rates of anxiety, depression, and suicidal thoughts. Amid this crisis, organizations like the Trevor Project, Peer Health Exchange, and Trans Lifeline are among the grantee partners of Rare Impact Fund. These groups are addressing urgent needs, from suicide prevention and crisis support to creating stronger mental health networks for marginalized youth.
As Rare Impact Fund continues to expand, Gomez’s vision is clear. The fund aims to raise $100 million to tackle youth mental health through a three-pronged approach: school-based solutions, building networks of support, and suicide prevention. Since its launch, the Rare Impact Fund has partnered with 26 nonprofit organizations, and Rare Beauty contributes 1% of all sales to the fund, ensuring that its impact continues to grow.
Elyse Cohen, the president of Rare Impact Fund, highlighted the growing support for the initiative, saying that the event’s success is a testament to the increasing awareness and engagement surrounding mental health. “This year, we had 20 financial sponsors, 18 auction donors, and 14 in-kind sponsors. The event has truly become an anchor for raising awareness and funds,” Cohen said. The Rare Impact Fund Benefit has clearly become a significant force in the mental health space, attracting support from both major corporations and individuals dedicated to making a difference.
A Commitment to Diversity and Inclusion
Another critical component of the Rare Impact Fund’s work is its commitment to diversity and inclusion. Many of the organizations that Rare Impact Fund supports are led by people of color, reflecting Gomez’s belief that mental health services must be tailored to the diverse needs of the population. In fact, Francia Raisa, a close friend of Gomez, spoke at last year’s inaug
ural benefit about the importance of diversity and inclusion in the mental health field. As a woman of color, Raisa highlighted how important it is for mental health services to be accessible to communities that are often overlooked or underserved.
This emphasis on diversity is crucial in a landscape where mental health care can be disproportionately difficult to access for people of color. According to the National Alliance on Mental Illness (NAMI), people from historically marginalized communities often face barriers to accessing quality mental health services, whether due to systemic racism, economic inequality, or cultural stigmas.
Looking Ahead: Selena Gomez’s Long-Term Impact
Given her young age, with Gomez now 32 years old, she is positioned to have a long and impactful career in both entertainment and philanthropy. She continues to build momentum with Rare Impact Fund, and with her growing fortune, influential celebrity status, and commitment to youth mental health, Gomez is well-positioned to become a major force in charitable giving. As more and more billionaires, such as Melinda French Gates and Arthur Blank, step up their mental health efforts, Gomez’s potential to shape this field is significant.
Meena Srinivasan, cofounder and executive director of Transformative Educational Leadership (TEL), one of Rare Impact’s earliest grantee partners, emphasized the importance of school-based mental health programs. “Building emotional intelligence and resilience in students is a long-term solution to the challenges we face. The Rare Impact Fund’s support makes that vision possible,” Srinivasan said. Rare Impact’s work in educational settings is helping lay the foundation for lasting mental health change among the next generation.
As the Rare Impact Fund continues to evolve and expand, Selena Gomez’s work in the mental health space is just getting started. Her combination of wealth, influence, and passion for improving youth mental health makes her one of the most exciting philanthropic advocates to watch in the years to come.
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