Welcome to the beauty founder billionaires club, Hailey Bieber.
On Wednesday, May 28, it was announced that the model's hit beauty and skincare brand, rhode, which she founded only three years ago, was bought by beauty veteran e.l.f. Beauty for a whopping $1 billion.
Reveling in the news in a post on Instagram, she 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. 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."
© Getty Images"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 to step into an even bigger role as Chief Creative Officer, and Head of Innovation of rhode as well as strategic advisor to e.l.f. Beauty," her statement continued.
Hailey's net worth
Though the billion-dollar sale doesn't quite make Hailey a billionaire just yet, it certainly increases her net worth.
A press release detailing the sale states that rhode, which is also Hailey's last name, was the No. 1 skincare brand in Earned Media Value in 2024, representing 367% year-over-year EMV growth.
© GC ImagesMoreover, per Harper's Bazaar, the deal is structured as follows: there's $800 million payable at closing, in a combination of cash and stock, with an additional potential earnout of $200 million based on the future growth of Rhode over the next three years.
Since news of the sale, Hailey's reported net worth has been updated to an alleged $300 million.
© InstagramJustin Bieber's net worth
Since 2018, Hailey has been married to the "One Less Lonely Girl" singer, and last August, they welcomed their first child together, son Jack Blues. In December 2022, the pop star sold his nearly 300-song collection to Hipgnosis Songs Capital for a reported $200 million, which is what his reported net worth is estimated at.
More beauty billionaires
In her sale to e.l.f. Beauty, Hailey joins an elite club of women who also have their own billion-dollar beauty brands. Her good friend Kylie Jenner founded Kylie Cosmetics in 2014, which is reportedly valued at $1.2 billion, and she herself has a net worth of $710 million, per Forbes.
© GettyMoreover, in 2021, Rihanna was named the youngest self-made billionaire woman in the US by Forbes at age 34, with a net worth of $1.4 billion, in large part thanks to the success of Fenty Beauty, which she co-owns with LVMH.
Last but certainly not least, Selena Gomez, who had an on-and-off relationship for almost ten years with Justin, is also close to being a billionaire, with a net worth of $700, per Forbes. Her brand Rare Beauty is valued at $2 billion.
