Hailey Bieber
Long Rhode to Billionaire Status
… Sells Makeup Company for $1 Billion!!!
Published
Hailey Bieber‘s Christmas came real early this year … ’cause she just sold her makeup brand to e.l.f. Cosmetics in a deal that could land her in the 10-figure club.
We’ve confirmed with people in the know that Hailey sold her brand Rhode in a deal that stipulates she’ll receive $800 million in cash and stocks at the close of the deal … with an extra $200 million headed her way if the company performs well over the next three years.
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The sale comes just a couple months after news broke that she was working with JPMorgan Chase to facilitate a sale … a pretty quick turnaround for a major company like this.
While Bieber’s selling the ownership stake in the company, she will retain her role as Rhode’s chief creative officer and head of innovation, overseeing creative, product innovation and marketing — and, she will act as a strategic advisor to Rhode and e.l.f. Beauty.
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Hailey shared a heartfelt statement to Instagram shortly after the news broke in which she detailed her excitement at the new partnership … and thanked the whole team that made Rhode into the brand it is today.
As you know … we broke the story that Justin Bieber sold his music catalog for just $200 million because they were broke and needed the cash — detailed in our documentary, “TMZ Investigates: What Happened to Justin Bieber.”
Looks like they got a whole lot of cash now … and, they can go down any Rhode they want in life!
Content shared from www.tmz.com.