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Hailey Bieber is in celebration mode. The Rhode founder just sold her beauty company to e.l.f Beauty in an unprecedented move for more than $1 billion.
The model took to the streets of West Hollywood to celebrate the milestone at a dinner without her husband Justin Bieber. In pictures obtained by TMZ, Hailey was seen leaving a Sprinter van in a black mini dress to dine at celebrity hotspot Alba.
She shared her excitement for the business deal on social media. “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,” she wrote on Instagram. “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. I found a like-minded disruptor with a vision to be a different kind of company that believes in big ideas and innovation in the same way that I do and will help us continue to grow the brand.”
Hailey also revealed her new role in the brand. “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,” she concluded.
While the sale was completed for a total of $1 billion, that doesn’t automatically make Hailey a billionaire just quite yet. The Hollywood Reporter reported that e.l.f. Beauty will pay “a $600 million cash payment, $200 million in shares of e.l.f. stock to Rhode’s existing equityholders, and a $200 million earnout that would be payable over three years based on hitting performance goals.” It’s unknown how much Hailey’s shares are worth, but Celebrity Net Worth reported that the deal boosted her net worth to a whopping $300 million. And compared to her husband, that’s $100 million more than his.
The “Let Me Love You” singer showed his support for his wife by reposting a photo of her and the caption to his Instagram feed. Fans noticed that he did not provide a caption, and it might be because of the backlash when he posted his wife’s Vogue cover a week prior.
In a now-deleted caption, Justin wrote a very questionable caption when his wife’s Vogue cover dropped. “Yo this reminds me when Hailey and I got into a huge fight. I told hails that she would never be on the cover of vogue. Yikes I know, so mean,” he captioned a post of her Vogue cover, which has since been edited.
“For some reason because I felt so disrespected I thought I gotta get even,” he continued. “I think as we mature we realize that we’re not helping anything by getting even … So baby u already know but forgive me for saying u wouldn’t get a vogue cover cuz clearly i was sadly mistaken.”
In the same Vogue interview, Hailey Bieber criticized people who were doubting their marriage and wanted them to get a divorce. “Being postpartum is the most sensitive time I’ve ever gone through in my life, and learning a new version of myself is very difficult,” Hailey told the fashion magazine. “And to be doing that all the while going on the internet every day and people being like, ‘They’re getting divorced’ and ‘They’re this’ and ‘They’re not happy,’ it is such a mindf—-. I cannot even begin to explain it. It’s a crazy life to live.”
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