Here's Whether Hailey Bieber's $1 Billion Rhode Acquisition Will Pay Off Justin Bieber's Multi-Million Dollar Settlement
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On July 10, Hailey's husband, Justin Bieber, reportedly settled a financial dispute with his former manager, Scooter Braun.
The "Peaches" singer reportedly agreed to pay $26 million to Scooter's company, HYBE, to reconcile money they paid to AEG for his canceled 2022 Justice tour, according to insider sources to People and TMZ.
In addition, Justin agreed to pay $5.5 million to cover half of the $11 million in unpaid commissions he reportedly owed Scooter, bringing the total to $31.5 million.
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On the same day the settlement was reported, we learned Justin was releasing his seventh album, Swag, and launched his new fashion brand SKYLRK.
Amidst this, speculation arose that Justin's settlement was postponed to line up with Hailey's $1 billion Rhode acquisition from e.lf. Beauty in May to help with his debts.
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But, according to People, a rep for Hailey revealed that Rhode's financial business is not associated with Justin's settlement. "The historic sale of Rhode is a huge accomplishment for Hailey and is completely separate from her husband and his business affairs."
Rhode was launched back in 2022 with Hailey as the founder, and now that it has been acquired, she will also serve as a strategic advisor, a chief creative officer, and head of product innovation to oversee marketing and innovative production. In May, a source told People, "This deal came to her," and she didn't even have to seek a buyer.
"She's incredibly excited about this new step. She's proud of how far rhode has come, and she truly believes that teaming up with e.l.f will help take the brand to the next level. The resources and support they're bringing to the table are everything she's been hoping for."
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"To be acquired and recognized by such a powerful global company feels like such an honor to her. She can't wait to take Rhode global. She also received a generous cash payout as part of the deal."
So, there you have it! Hailey and Rhode are standing on cosmetic business, and Justin's financial affairs apparently have nothing to do with it.
I love a good power couple!
We reached out to Justin team for further comments, and we'll let you know when we hear back.
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