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People Top 5
LAST UPDATE: Tuesday February 10, 2015 01:10PM EST
- August 22, 2011
- Vol. 76
- No. 7
Hollywood's Richest Teens!
With Hefty Paychecks and Swanky Splurges, These Young Stars Have It All. How They Earn, Spend and Save Their Millions
Selena Gomez, 19
Love doesn't cost a thing, but if it did, these two could certainly afford it. Gomez earned an estimated $5.5 million in the past year, thanks to her music, her role on Disney Channel's Wizards of Waverly Place and about $1.5 million for the movie Monte Carlo. "I splurge on vacations and taking family and friends with me," she says. (No kidding: She and Bieber recently stayed in a $6,000-a-night suite at the St. Regis Monarch Beach in California.) But she's on an allowance: "If I wasn't, Lord knows what would happen."
Justin Bieber, 17
The pop sensation pulled in $53 million this past year, according to Forbes, from concerts, music sales and a 3-D movie that grossed nearly $100 million. This summer his fragrance "Someday" sold $3 million in just three weeks. Raised by a single mom, Bieber says he knows how "fortunate" he is. "My mom and I used to share off the menu and order water instead of the drink I wanted. I promised myself one day I would be able to not care about how much I spend." Mission accomplished!
Who are the NEXT OLSENS?
These Hollywood siblings are heading for superstardom
Willow Smith, 10, and Jaden Smith, 13
Will and Jada Pinkett Smith's kids are millionaires without Mom and Dad's help. Jaden earned $5 million in 2010, according to a source-$3 million just for starring in The Karate Kid. Willow made about $4 million from her single "Whip My Hair," a record deal and other gigs.
Dakota Fanning, 17, and Elle Fanning, 13
Dakota, who just graduated from high school, earned an estimated $4 million for Twilight: Breaking Dawn. Little sis Elle made about $1.5 million starring in Super 8, and the screen veterans have plenty more roles lined up.
Nick Jonas, 18
The youngest sib in the Jonas Brothers band earned an estimated $12.5 million last year and is now branching out into producing and songwriting for other artists. The singer tells PEOPLE his first splurge was a Mustang: "My first and favorite car." But he spreads the wealth. Last year he gave Mom a Rolex for Christmas.
Richest TV STAR!
Angus T. Jones, 17
Two and a Half Men's half-man started trading quips with Charlie Sheen and Jon Cryer at age 9. Now he's nearly grown up, with a superstar paycheck to match: His current contract is worth $7.8 million, including $300,000 an episode plus bonuses. Otherwise, he says, he's a typical teen: "I go to school, I clean my room, I get in trouble."
Richest MOVIE STAR!
Taylor Lautner, 19
It's not just his flock of female fans that keeps this teen smiling. He's made a killing from the Twilight movies, earning $8.5 million for the final two films, according to a source. He also pulled in a reported $7.5 million for the action movie Abduction. His latest splurge? A $200,000 Mercedes-Benz SLS AMG Roadster.
Can anyone TOP MILEY?
They act, they sing-but these kid idols have a long way to go to outearn the pop princess
Richest TEEN QUEENS!
Demi Lovato, 19
The Disney Channel star made an estimated $3.5 million last year. "I'm incredibly blessed," she says. She recently bought a house for her family for a reported $2 million-plus.
Miranda Cosgrove, 18
The star of Nickelodeon's iCarly pulled in an estimated $3 million last year from acting, her album and a lucrative Neutrogena contract-but her biggest splurge, she says, was "an iPad."
Miley Cyrus, 18
She earned an estimated $15 million last year, according to Forbes, and $48 million touring the year before.
- with Kiri Blakeley,
- Sharon Cotliar,
- Carlos Greer,
- Cynthia Wang.
Treat Yourself! 4 Preview Issues
The most buzzed about stars this minute!