Selena Gomez's Rare Beauty Announces $100M Fund For Mental Health Resources
LOS ANGELES (CBSLA) — Selena Gomez's makeup company Rare Beauty announced Wednesday that it was launching a fund aimed at raising $100 million over the next decade to try to increase access to mental health resources.
According to the company, 1% of all Rare Beauty sales, along with funds raised from partners, would be dedicated to the Rare Impact Fund, which is expected to be one of the largest philanthropic efforts focused on mental health worldwide.
According to Scott Friedman, the company's chief executive, funds raised will be spent increasing access to mental health services, particularly in underserved communities.
Gomez, who founded the company in February of this year, has spoken candidly in the past about her own struggles with mental health, including in an April discussion with actress and singer Miley Cyrus on her Instagram Live show "Bright Minded." In the episode of the online series, Gomez spoke about her bipolar diagnoses and said she had been treated for depression and anxiety.
"Since the brand's inception, we wanted to find a way to give back to our community and further support people who needed access to mental health services, which have had a profound impact on my life," Gomez said in a statement.
The company also said it has created the Rare Beauty Mental Health Council, composed of expert advisers from leading universities, organizations and companies focused on mental health, to guide the company's strategy.
Read Rare Beauty's Instagram post about the Rare Impact Fund below.
(© Copyright 2020 CBS Broadcasting Inc. All Rights Reserved. City News Service contributed to this report.)
