Selena Gomez’s Billionaire Empire Leaves Her Mom Covering Startup Payroll Crisis.
Despite being the co-founder of a startup backed by a billionaire, Mandy Teefey—Selena Gomez’s mother and CEO of mental health company Wondermind—was reportedly forced to take out a loan against her home to make payroll.
According to Forbes, Wondermind began missing employee paychecks in March as funds dried up. With around 15 staff members on the books—not including freelancers and vendors—the startup reportedly fell behind on at least one round of payments. While employees have now received one of the two missed paychecks, outside vendors are still owed “hundreds of thousands,” including $60,000 to a PR firm, anonymous sources told the outlet.
Wondermind claimed the matter has been “rectified,” stating that outstanding payments will be submitted on Monday.
The financial troubles reached a peak in March, when Teefey informed staff via email that their healthcare benefits would be cut.
“We apologize for the email on a wellness day,” the internal message read. “As you are aware, we have been working tirelessly to secure our next round of funding.”
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The message also informed employees they’d need to sign up for COBRA—a temporary healthcare option for those who lose employer-sponsored insurance.
Wondermind released a statement calling the setbacks typical for startups:
“Like many startups, Wondermind has been working through its own set of growing pains. 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.”
Insiders told Forbes that trouble began in January 2023 when Teefey became Wondermind’s sole CEO. Despite her entertainment management background—having overseen her daughter’s acting and music career—employees reportedly questioned whether she had the business experience needed to lead a startup.
Adding to frustrations, Teefey allegedly turned down lucrative deals, including a multi-million dollar partnership with Airbnb, due to conditions requiring Gomez’s involvement.
Those claims were quickly disputed by Wondermind’s chief of staff, Emma Wright, who described the allegations as “insanely, grossly misleading.”
“She has been singularly focused on keeping everyone’s livelihoods intact and keeping the company growing,” Wright said, praising Teefey’s leadership style as being guided by “pure grace.”
Wondermind launched in 2021 and raised $5 million the following year. Meanwhile, Gomez, who co-founded the company, hit billionaire status in 2024—thanks largely to her beauty brand Rare Beauty, along with income from acting, music, partnerships, and real estate.
While Gomez’s personal net worth has soared to $1.3 billion, it remains unclear how involved she is in Wondermind’s financial decisions. Her investment in the company was noted by Bloomberg, though her direct involvement in crisis management appears limited.
It’s admirable that Mandy Teefey stepped in personally to cover staff wages, but it raises eyebrows why Selena Gomez—now worth over a billion dollars—didn’t step in to prevent this financial meltdown in the first place. For a mental health startup founded by one of the world’s most successful entertainers, it’s jarring to see such instability, particularly when it risks employee livelihoods and undermines public trust.
While it’s possible Gomez was unaware of the severity, the silence is hard to ignore. In a company meant to support wellness, the question remains: why didn’t its most powerful co-founder step in when it mattered most?
