Hailey Bieber reveals how she plans to spend money from $1 billion Rhode sale
Bieber first announced Rhode’s acquisition by e.l.f. Beauty in May, as a strategic step to expand the brand globally
Hailey Bieber has revealed that she plans to save the earnings from her $1 billion Rhode Skin sale to e.l.f. Beauty for her son’s future.
The 28-year-old model and entrepreneur confirmed that she intends to manage the profits wisely following the major acquisition of her skincare company earlier this year.
“I want to preserve that for my son’s future,” Bieber told WSJ. Magazine in an interview published on October 14. “It’s an amount of money that I have not dealt with before, so I just want to be smart with it.” The model and businesswoman shares 14-month-old Jack Blues Bieber with husband Justin Bieber.
Bieber reportedly split $800 million in cash and stock from the deal with Rhode CEO Nick Vlahos and cofounders Lauren Ratner and Michael D. Ratner. She said she plans to invest the proceeds “wisely,” ensuring long-term stability for her family.
The Rhode founder also opened up about her decision to keep her son’s face off social media, explaining that she prefers to protect his privacy until he is old enough to understand the implications of public exposure.
Bieber first announced Rhode’s acquisition by e.l.f. Beauty in May, calling it a strategic step to expand the brand’s reach globally. Despite the sale, she will continue as Chief Creative Officer and Head of Innovation at Rhode while also serving as a strategic advisor for e.l.f. Beauty.
