Hailey Bieber is focused on her business endeavors, despite the rumors surrounding the financial details of her $1 billion deal with Rhode via PEOPLE.
Earlier this month, her husband, Justin Bieber, resolved a financial dispute with his former manager, Scooter Braun. The 31-year-old singer agreed to pay $26 million to Braun’s former company, HYBE, as part of an advance he received from AEG Presents for his ultimately canceled 2022 Justice Tour. Additionally, he consented to pay $5.5 million to cover half of the $11 million in unpaid commissions owed to Braun.
TMZ reported on July 10 that Bieber and Braun had settled their dispute, coinciding with the announcement of Justin’s upcoming seventh album, “Swag,” and the launch of his fashion brand, SKYLRK.
Simultaneously, rumors began to circulate suggesting that the Grammy-winning artist delayed settling his debts until after Hailey, 28, secured her $1 billion deal with e.l.f. Beauty for the acquisition of her brand, Rhode, in May.
However, Rhode’s business move is in no way associated with her husband’s settlement.
“The historic sale of rhode is a huge accomplishment for Hailey and is completely separate from her husband and his business affairs.”
It has been noted that the acquisition of Hailey’s company, which she launched in 2022, occurred on May 28th. She will continue her role as founder and additionally serve as Rhode’s chief creative officer and head of innovation, overseeing creative, product innovation and marketing. She will also act as a strategic advisor to the combined companies.
Following the news, a source told PEOPLE that Hailey didn’t even have to look for a buyer. “This deal came to her,” the source shared.
“She’s incredibly excited about this new step. She’s proud of how far Rhode has come, and she truly believes that teaming up with e.l.f will help take the brand to the next level. The resources and support they’re bringing to the table are everything she’s been hoping for.”
“To be acquired and recognized by such a powerful global company feels like such an honor to her. She can’t wait to take Rhode global. She also received a generous cash payout as part of the deal.”
During an appearance at the Business of Beauty Global Forum on June 10, the mom of one said she had a good feeling about the business proposition. “I remember walking away like, ‘They’re it,’” she recalled. “I knew it in my gut. We just said so many of the same things.” She also called Rhode “her baby,” so the idea of even partnering up was a “very, very big deal.”
As his wife celebrated the major milestone, a source told PEOPLE that Justin is “beyond proud” because she’d “seen how hard she’s worked from day one.”
