Hailey Bieber is setting the record straight about her billion-dollar Rhode beauty brand sale. This comes amid wild rumors tying the sale to her husband Justin Bieber’s alleged financial drama with Scooter Braun. Reports claimed Justin was waiting on Hailey’s massive deal to settle a hefty debt. However, Mrs. Bieber has responded, saying her business moves are all her own.
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Hailey Bieber Denies Using $1B Sale To Pay Husband’s Alleged Debt
Hailey is not here for the gossip! On Friday, July 18, the 28-year-old mogul’s team shut down rumors that her Rhode beauty brand’s billion-dollar sale was being used to bail out her hubby’s alleged debt to Scooter’s company, Hybe.
“The historic sale of Rhode is a huge accomplishment for Hailey and is completely separate from her husband and his business affairs,” her rep told Us Weekly with the quickness.
The statement comes after TMZ alleged in an article published on Thursday that Justin was holding off on paying Scooter. Why? Apparently, he wanted to wait until Hailey’s Rhode deal was finalized. Sources alleged that Justin is an investor in Rhode, and the sale could net him about $50 million, which is more than enough to clear his tab with Scooter, allegedly. But Hailey’s camp is making it crystal clear: her coins are her coins, and they’re not being used to clean up anybody else’s financial issues.
Justin Allegedly Owes How Much To Scooter?
According to TMZ, an independent audit revealed that Justin allegedly owed Scooter’s company, Hybe, $26 million. This came after Hybe reportedly bailed him out when he canceled his Justice tour, footing the bill for promoter AEG. That’s not all, though. Justin allegedly owed Scooter $11 million in back commissions for past work. There was also talk of an additional $8 million in other commissions, but Scooter supposedly waived that amount.
Justin reportedly agreed to pay back $26 million plus half of the commission debt, bringing the total to about $31.5 million. Sources claimed there was one major catch in the settlement: Justin wasn’t going to cough up a dime until Hailey’s Rhode deal was allegedly signed and funded.
Why Did Hailey Bieber Sell Rhode?
Hailey’s Rhode empire made headlines back in May when she sold the brand to e.l.f Beauty for a staggering $1 billion, per Forbes. The deal broke down as follows: $600 million in cash and $200 million in e.l.f Beauty shares, and a potential extra $200 million if Rhode hits its three-year growth goals. Even after the sale, Hailey’s staying in the driver’s seat as Rhode’s chief creative officer and head of innovation. This suggests she’ll continue to play a huge part in the brand’s direction. The sale was a major flex for Hailey, who built Rhode into a skincare and beauty powerhouse from the ground up.
