Hailey Bieber’s recent billion-dollar deal with e.l.f beauty has some nice perks.
People reported on Thursday, May 29, that Bieber, 28, received a “generous cash payout” for e.l.f’s acquisition of her Rhode company. Sources told the outlet the deal “came” to Bieber and she was “honored” to have her hard work recognized by a leader in the beauty industry.
Bieber is reportedly “incredibly excited” to take Rhode to the “next level,” which she believes is possible thanks to the “resources and support” e.l.f. can provide.
After news broke of the deal, Bieber was photographed going out to celebrate. According to photos obtained by People, Bieber stepped out in a black strapless mini dress while attending dinner in Los Angeles.
Us Weekly has reached out to Bieber for comment.
News broke on Wednesday, May 28, that e.l.f. acquired Rhode for $1 billion, per WWD. The deal included $800 million in cash and stock at closing, with a potential additional $200 million earnout based on Rhode’s growth.
Bieber, for her part, took to social media to share the exciting business update.
“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,” she wrote via Instagram on Wednesday. “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.”
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.”
Bieber ended her note thanking her “amazing” team who helped her “build over the years.”
“I couldn’t have done it without all of you. And to our rhode community, thank you for being the most supportive and for being on this journey,” she penned. “This next chapter is going to be even more incredible together! As I’ve said, this is only the beginning. 🤍.”
Hailey’s husband, Justin Bieber, celebrated his wife’s accomplishment as well, sharing a series of snaps via Instagram that included him and Hailey embracing in a sweet hug and kiss.
Hailey and Justin, 31, tied the knot in September 2018. In August 2024, the couple welcomed son Jack.
Weeks before cementing herself as a billionaire, Hailey appeared on the cover of Vogue.
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