In 2020, Selena Gomez bought Tom Petty's former 11,500-square-foot LA estate for $4.9 million; six years later she sold it for $5.4 million

Selena Gomez has made a neat profit by selling her Encino home for $5.4 million, having originally purchased the property in 2020 for approximately $4.9 million. This unique residence, crafted in 1989 for rock legend Tom Petty, boasts an impressive recording studio and gourmet kitchen, and even served as the backdrop for her popular cooking series.