Selena Gomez Says Taylor Swift’s One-Sentence Advice Shaped How She Builds Her Business and It’s a Lesson Every Business Owner Can Use

At the Fortune Most Powerful Women Summit in Washington, D.C., Selena Gomez opened up about her journey from actress and singer to successful entrepreneur, and how being underestimated motivated her even more.

When she launched Rare Beauty in 2020, many people didn’t immediately take her seriously in the business world. Gomez said she often faced assumptions about what she could or couldn’t do, and that some believed she should “stay in her lane.” But she had a clear mission: to make a difference and redefine what beauty means.

That clarity paid off. Rare Beauty has grown into one of Gen Z’s favorite makeup brands, now valued at around $2.7 billion, making Gomez one of the world’s youngest self-made billionaires. Yet she credits part of that success to surrounding herself with the right people.

Gomez said her close friend Taylor Swift once gave her a piece of advice she never forgot: “If you’re the smartest person in the room, you’re in the wrong room.” For Gomez, that meant seeking out people who challenged her, believed in her mission, and brought fresh perspectives to her business.

As the brand grew, Rare Beauty also started giving back. Through the Rare Impact Fund, Gomez pledged 1% of sales to support youth mental health programs around the world.

According to Elyse Cohen, Rare Beauty’s Chief Impact Officer, the decision was “a risk,” but one that reflected the company’s core values. “We took risks from day one, and it’s part of how we created the lane that we created in the beauty industry,” Cohen said.

There are some risks worth taking — like building something meaningful or leading with purpose. And then there are the other kinds of risks: the ones that quietly threaten your business, your data, and the trust you’ve built.

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