Hailey Rhode Bieber just became a billionaire at 28, and not gonna lie, we think she ate with this one.
Based on recent reports, the model and skincare + makeup business mogul sold her makeup and skincare brand Rhode to e.l.f. beauty for a 1 billion deal.
The 28-year-old who is married to Pop sensation Justin Bieber, started the brand back in 2022, and since, has expanded rapidly due to its online popularity, ushering in more than $200m in net sales over the past year (March to March), with plans of it launching in Sephora US and UK this year.
In the recent announcement of the deal, buyer e.l.f. Beauty called the business "a beautiful brand that we believe is ready for rocketship growth".
e.l.f is paying $800m in cash and stock for the company, with a further $200m payout possible depending on future sales growth. The deal is expected to close later this year.
Hailey will stay with the company as chief creative officer, and also mentioned that the deal marked the "next chapter" for the brand.
"Our partnership with e.l.f. Beauty marks an incredible opportunity to elevate and accelerate our ability to reach more of our community with even more innovative products and widen our distribution globally," she said.
