"I want to preserve that for my son's future," she told WSJ Magazine. "It's an amount of money that I have not dealt with before, so I just want to be smart with it. I would like to invest it wisely," Bieber said."
"I never wanted to sell my company and wipe my hands clean and walk away from it," she told WSJ. "I'm still the one that's testing all the products, I'm still the one that's sitting in the product-development meetings."
Hailey Bieber launched Rhode online in June 2022 and sold the beauty brand to e.l.f. Beauty for $1 billion in May. Bieber retained an active role as founder, chief creative and innovation officer on Rhode's board and joined e.l.f. as a strategic adviser, continuing to test products and lead product-development meetings. Rhode reached $212 million in annual net sales by March. Bieber intends to invest the sale proceeds rather than spend them, aiming to preserve wealth for her son, Jack Blues, who was born in August 2024. E.l.f. Beauty has an estimated $7.7 billion market cap.
Read at Fortune
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