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Hailey Bieber just sold her beauty band for a massive fortune.
Earlier this spring, friends of the Biebers reportedly worried about Justin’s unsustainable spending.
Now, any financial worries are presumably in the past.
Rhode sold for about $1 billion, proving that Hailey can defy anyone’s doubts. What does this mean for her?
Congratulations to new billionaire (more or less) Hailey Bieber!
Hailey Bieber has sold Rhode to e.l.f Cosmetics.
According to TMZ‘s report, Hailey’s deal is for $1 billion, but there’s a stipulation.
At the close of the deal, she receives $800 million in cash and stocks.
There’s $200 million with her name on it if the company performs well over the next three years.
This has been in the works for months. Early this year, there were whispers that she was working with JPMorgan Chase to facilitate the sale of Rhode.
Believe it or not, for a deal of this size, that’s a fairly quick turnaround.
Some acquisitions of this size take years.
That would seem to indicate that both sides were eager to make the trade.
Don’t worry; Hailey isn’t leaving the beauty business
This deal means that Hailey is selling her ownership stake in Rhode.
But she will remain the chief creative officer and head of innovation.
So Hailey will continue to oversee creative, product innovation, and marketing efforts for the company.
Hailey will also act as strategic advisor to Rhode and e.l.f. Beauty.
How much an “advisor” role means varies from situation to situation, of course.
After news broke about this massive deal, Hailey Bieber took to her Instagram page to thank the Rhode team, fans, and customers — and to clarify much of what we just discussed.
There are fan concerns that Hailey did not detail, however.
In 2022 — the same year that Hailey founded Rhode — Justin Bieber sold his music catalogue (the rights to all of his music from before 2021) for $200 million.
What does this mean for Justin?
Many experts noted that Justin could have gotten more for his catalogue if he’d wished. Reports have since alleged that Justin was broke (in rich people terms) and needed fast cash.
Now, Hailey is functionally the forever breadwinner.
Fans are now thinking about those divorce rumors and Justin’s string of alarming posts and worrisome actions. What would happen in a divorce?
We don’t know. But we do know that, as far as the public is aware, Hailey and Justin Bieber do not have a prenup. That is an awkward reality to consider.
