Hailey Bieber: Rhode acquired in $1bil deal, is she now a billionaire, net worth, is she richer than Justin Bieber
Hailey Bieber’s skincare and beauty brand, Rhode, has been acquired by e.l.f. Beauty in a deal valued at up to $1 billion. Does this mean she is now a billionaire?
The 28-year-old model and entrepreneur, who co-founded Rhode in 2022 alongside Michael D Ratner and Lauren Ratner, confirmed the news this week, revealing she will remain actively involved in the brand as chief creative officer and head of innovation.
“From day one, my vision for Rhode has been to make essential skin care and hybrid make-up you can use every day,” Bieber said in a statement. “Just three years into this journey, our partnership with e.l.f. Beauty marks an incredible opportunity to elevate and accelerate our ability to reach more of our community with even more innovative products and widen our distribution globally.”
The deal is structured to include a $600 million cash payment, $200 million in e.l.f. stock, and a $200 million earnout contingent on performance targets over the next three years, according to The Hollywood Reporter.
Bieber's exact stake in the company hasn’t been disclosed, but Celebrity Net Worth estimates it to be between 50% and 70%, placing her newly estimated personal net worth at $300 million, more than her husband Justin Bieber, who is valued at $200 million.
In an interview with Women’s Wear Daily, Bieber, who is the daughter of Hollywood actor Alec Baldwin, said she is committed to growing the brand further through innovation: “I want to continue to push innovation—innovative products, innovative marketing—and I know they’ll (e.l.f. Beauty) be able to continue helping us.”
The acquisition comes amid Rhode’s meteoric rise. In under three years, the brand generated $212 million in net sales, with just 10 products and a direct-to-consumer model.
“I’ve been in the consumer space 34 years, and I’ve been blown away by seeing this brand over time,” said Tarang Amin, CEO of e.l.f. Beauty, in an interview with CNBC. “I didn’t think that was possible. So that level of disruption definitely caught our attention.”
Though the billion-dollar price tag has sparked talk of Bieber joining the ranks of celebrity billionaires, it’s important to note that she won’t receive the full amount, and much of the deal is tied to future performance.
Speaking to Vogue, she admitted: “I never, ever thought or expected it to turn into this. In my wildest dreams, it’s already gone beyond what I would’ve hoped for.”
Rhode’s president Lauren credited Bieber as the driving force behind the brand’s rise: “The number-one reason for Rhode’s success is Hailey. I think the consumer is really smart, and really understands authenticity.”
What did Hailey Bieber do previously?
Hailey, who launched Rhode in 2022, began her career as a teenage model, landing campaigns with major fashion houses such as Versace, Saint Laurent, Tommy Hilfiger and Ralph Lauren. She regularly appeared in top fashion magazines including Vogue, Elle and Harper’s Bazaar, and walked the runway during fashion weeks in New York, Paris and Milan.
Between 2017 and 2019, she co-hosted the celebrity rap battle show Drop the Mic on TBS and made brief appearances in music videos and film.
With 50 million social media followers, Bieber became a sought-after face for brands like BareMinerals and Superga, developing a signature “clean girl” beauty aesthetic that would later shape Rhode’s minimalist skincare identity.
When did Hailey Bieber marry Justin Bieber?
The couple first tied the knot in a civil ceremony at a New York City courthouse on September 13, 2018. They later held a larger formal wedding celebration on September 30, 2019 at the Montage Palmetto Bluff resort in South Carolina.
The celebrity couple welcomed their first child, Jack Blues Bieber in August 2024.