Hailey Bieber‘s company was just bought in a $1 billion deal – and that’s not the only thing she’s celebrating.
On May 28, the rhode founder, 28, announced that e.l.f. Beauty would be acquiring her cosmetics brand, and it’s rumored that she’s received a “generous cash payout.”
An anonymous source tells People Magazine that Bieber didn’t even have to look for a buyer and that the deal “came to her” and that she’s “incredibly excited” about it.
“To be acquired and recognized by such a powerful global company feels like such an honor to her. She can’t wait to take rhode global.” the insider said.
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Bieber took to Instagram to share the good news, telling her 55 million followers that “the most important thing to me is to keep bringing rhode to more spaces, places, and faces globally.”
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The $1 billion deal was first announced in a press release. According to the statement, Bieber will continue her role as rhode founder and will also serve as rhode’s chief creative officer, head of innovation, and act as a strategic advisor to the combined companies.
The rhode acquisition comes on the heels of intense media scrutiny of Hailey’s husband, Justin Bieber. Justin is reportedly $8 million in debt to his former manager, Scooter Braun, and recently faced backlash for comments fans found to be “disrespectful” towards his wife.
Nevertheless, Justin also seems to be celebrating Hailey’s achievement.
Justin, 31, added screenshots of Hailey’s announcement and caption to an Instagram carousel, but did not add his own comments.
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“🥹❤️,” Hailey wrote in the comment section.
Hailey added that she looks forward to rhode’s “new exciting chapter” and thanked co-founders Michael D. Ratner and Lauren Ratner who “helped bring my vision to life from the start.”
The nepo-baby-turned-entrepreneur was spotted celebrating the landmark deal at a dinner in Los Angeles. Bieber stepped out in a black strapless mini dress by Saint Laurent by Anthony Vaccarello and also wore black slingback pumps and a pair of black sunglasses.