Hailey Bieber enters billionaires club with $1B Rhode deal as husband Justin battles financial woes
LOS ANGELES, CALIFORNIA: Hailey Bieber has officially entered the billionaire club after sealing a massive $1 billion agreement for her skincare brand, Rhode.
The company shared on Wednesday, May 28 that it has officially entered into a binding deal with e.l.f. Beauty.
The 28-year-old model and entrepreneur confirmed on Instagram that Rhode is now joining forces with e.l.f. Beauty in a landmark deal that includes $800 million in cash and stock, with the potential for an additional $200 million based on future performance.
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Hailey Bieber cashes in with $1 billion Rhode deal
“When I launched @rhode in 2022, I always had big dreams for the company, and the most important thing to me is to keep bringing rhode to more spaces, places, and faces globally. So today I am so incredibly excited and proud to announce that we are partnering with e.l.f. Beauty as we step into this next chapter in the world of rhode,” Hailey wrote.
She continued, “I feel invigorated, excited and more ready than ever to step into an even bigger role as Chief Creative Officer, and Head of Innovation of Rhode as well as strategic advisor to e.l.f. Beauty.”
“This next chapter is going to be even more incredible together.” As part of the acquisition, Hailey will remain deeply involved as Rhode’s Chief Creative Officer, Head of Innovation, and a strategic advisor to e.l.f. Beauty.
The founder of the skincare brand expressed heartfelt gratitude to her “amazing” team, saying she “couldn’t have done it without” all of them. She also gave a special shoutout to her loyal customers, ending with a hopeful note, “As I’ve said, this is only the beginning.”
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e.l.f. financed the acquisition with $600 million in debt, signaling major confidence in Rhode’s growth trajectory. The deal positions Bieber not only as the face of a breakout brand but as a serious player in the beauty business world.
Justin Bieber's financial struggles
While Hailey’s star continues to rise, husband Justin Bieber is reportedly grappling with financial instability. The pop star, 31, is said to have racked up significant debt following the abrupt cancellation of his 2022 “Justice” world tour.
According to TMZ, filings show that Justin borrowed more than $8 million from former manager Scooter Braun to manage the fallout.
Though the singer’s reps have denied any financial distress, insiders suggest otherwise. Reports allege that Bieber’s extravagant spending has led to troubling cash flow issues, with one source claiming, “At one point, he couldn’t even get a credit card.”
Internet reacts as Hailey Bieber's beauty brand Rhode sells for $1 billion
Hailey Bieber’s skincare brand Rhode has officially been sold in a blockbuster $1 billion deal, sparking a wave of excitement, questions, and memes across social media.
Fans and celebrities alike showered Bieber with praise and admiration. “Yessss! Boss woman. Congrats Hailey,” model Jasmine Tookes wrote.
Supermodel and close friend Gigi Hadid chimed in, “Congratulations hails !!! Sooo mega.”
Others marveled at the magnitude and speed of the acquisition, “This was an incredibly fast acquisition. I don’t know if it typically happens this fast. I would love to understand. She’s been doing incredibly well, but I need to know how she did it.”
“The girls are becoming billionaires in a very short time. I love it,” one commented.
Naturally, comparisons to husband Justin Bieber weren't far behind, “Bieber never has to sing again. GOD IS A WOMAN.”
“Wait so that means that Hailey would be RICHER than Justin? LOOOOOOOL So that's why he's been so salty,” one user lamented.
And one commenter had advice for the newly-minted mogul, “Hailey, take your billions and your baby and run, girl!”
This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online
