Selena Gomez’s mother, Mandy Teefey, reportedly took out a mortgage in opposition to her dwelling to assist pay employees employed on the billionaire’s psychological well being startup, Wondermind.
Teefey, the corporate’s CEO, discovered herself in a disaster when the enterprise allegedly began working out of funds to pay its estimated 15 staff, not together with distributors and freelancers, in March, Forbes reported Saturday.
In line with the outlet, employees have been compensated for one out of two missed paychecks, and freelancers and distributors are nonetheless ready to be paid “a whole bunch of 1000’s.”
Selena Gomez’s mother, Mandy Teefey, reportedly took out a mortgage in opposition to her dwelling to assist pay employees employed at her and her daughter’s psychological well being firm, Wondermind. Getty Pictures
In line with Forbes, the corporate began working out of cash in March. Mandy Teefey/Instagram
Round $60,000 can be owed to a PR agency, nameless staff alleged.
Wondermind advised Forbes that the corporate has “rectified” the difficulty, and the remainder of the funds might be submitted on Monday.
In March, emails noticed by Forbes revealed that Teefy notified Wondermind employees that their well being care firm was terminating worker well being advantages.
“We apologize for the e-mail on a wellness day,” the e-mail learn, per Forbes. “As you might be conscious, now we have been working tirelessly to safe our subsequent spherical of funding.”
Workers had been additionally knowledgeable within the e mail that they must elect into COBRA protection, which permits individuals who misplaced their jobs or had a discount in hours to briefly proceed their well being plans.
Staff are nonetheless lacking one paycheck and freelancers are allegedly owed 1000’s. SXSW Convention & Festivals through Getty Pictures
The corporate advised the outlet that the difficulty has been mounted. Mandy Teefey/Instagram
“Like many startups, Wondermind has been working by its personal set of rising pains,” they mentioned in a press release.
“Within the coming days, we might be transitioning into a brand new chapter for Wondermind, and persevering with our vital work in psychological health that helps a whole bunch of 1000’s of individuals.”
Sources advised the outlet that the corporate’s points allegedly began in January 2023 when Teefey, 49, was appointed as the only CEO.
Regardless of Teefey having reportedly managed her well-known daughter’s movie and TV profession for years, the staff claimed she didn’t have the perception to assist the enterprise succeed.
Teefey has additionally allegedly turned down multi-million greenback model offers, together with one with Airbnb, if the businesses prompt that Gomez, 32, be concerned.
Allegations about model offers, nonetheless, had been slammed by Wondermind’s chief of employees, Emma Wright, as “insanely, grossly deceptive.”
Staff are anticipated to obtain their missed funds on Monday. WireImage
Reps for Gomez weren’t instantly accessible to Web page Six for remark. @selenagomez/Instagram
Wright additionally praised Teefey’s management abilities, saying she “[leads] with simply pure grace.”
“She has been singularly centered on preserving everybody’s livelihoods intact and preserving the corporate rising,” the businesswoman mentioned.
Reps for Wondermind and Gomez weren’t instantly accessible to Web page Six for remark.
Wondermind was based in 2021 and raised $5 million in funding the next 12 months, per Forbes.
The “Solely Murders within the Constructing” star, in the meantime, reached billionaire standing in September 2024 with a reported web value of $1.3 million.
The “Solely Murders within the Constructing” star reached billionaire standing final 12 months. selenagomez/Instagram
Bloomberg credited the majority of the “Calm Down” singer’s monetary success to her Uncommon Magnificence make-up model. selenagomez/Instagram
Bloomberg credited the majority of Gomez’s monetary success to her Uncommon Magnificence make-up model, which she established in February 2019 and launched the subsequent 12 months.
Whereas 80 p.c of Gomez’s wealth stems from her cosmetics firm, the outlet additionally acknowledged that her singing and performing careers, actual property investments and paid partnerships contributed to her wealth.
The Disney alum’s Wondermind firm funding was additionally credited.