Hailey Bieber saves the day (financially) amid Justin's money problems: Source
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(NewsNation) — It's Hailey to the rescue!
When Hailey Bieber and Justin Bieber first got together, he was the one with the financial clout.
She was a model; he was a mega pop star worth more than $500 million.
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But this week, when Hailey sold her beauty line she founded just three years ago, Rhode, for $1 billion to e.l.f. Cosmetics, she reversed those roles… and Hailey is now the one bringing home the bacon.
Announcing the deal on Instagram, Hailey wrote: '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,' Hailey's caption began.
'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,' Hailey continued. '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.'
'I feel invigorated, excited and more ready than ever,' she explained, adding that she will now serve as Chief Creative Officer, and Head of Innovation of Rhode as well as a strategic advisor to e.l.f. Beauty.
She then thanked her Rhode team and the 'supportive' Rhode community. 'This next chapter is going to be even more incredible together! As I've said, this is only the beginning. 🤍.'
According to the Wall Street Journal: 'E.l.f. Beauty agreed to pay Rhode's equity holders $800 million at closing, including $600 million in cash and $200 million in new shares of e.l.f. Beauty common stock. And depending on the brand's growth over the next three years, e.l.f. could pay as much as $200 million more.'
A source told me: 'Hailey saved the day (financially). She's also very smart when it comes to business and having good people around her so she can be trusted with the money — and make sure she, Jack and Justin have a good financial foundation from here on out.'
It was financial worries, if anything, that may have caused a strain on their marriage.
Much has been made of Justin's financial fallout from his 'out of control' spending, partying and split from former manager Scooter Braun.
Bieber was on the hook for millions after he pulled out of his 2022 tour — and ended up selling his music catalogue for $200 million because he was 'broke,' according to Page Six.
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'He spends eye-watering amounts per month. At one point, he couldn't even get a credit card,' the source told Page Six. 'Justin is surrounded by a lot of people that do not have his best interests at heart.'
Justin's profligate spending didn't stop when he sold his catalogue, however. It continued into this year, and sources again told P6: 'He's flying in all his friends on private jets to his birthday party, putting it all over Instagram. He'll spend $300,000 at the Nobu at Coachella. He hasn't worked in a really long time.'
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