Less than three years after founding the company, Hailey Bieber’s beauty brand Rhode Beauty just hit a billion-dollar payday. Life & Style breaks down the major cosmetic deal that thrusts the model into billionaire status.
Hailey Bieber Founded Rhode Beauty in 2022
Hailey has always been known to inspire It Girl trends and turned her signature glazed donut skin into a business endeavor when she founded Rhode Beauty in 2022.
She told People that she began planning and concepting the brand during the 2020 COVID-19 pandemic, specifically craving out time to oversee all facets of the brand including meeting with cosmetic chemists and dermatologists, testing out samples and evaluating formulas.
“For me, that spans across all things in my life — [from] beauty [to] how I edit my wardrobe. It’s like that one really good pair of jeans you’re always reaching for,” she told the outlet in 2022. “That’s how I look at skincare as well. That one really good moisturizer you keep reaching for. That one really great hydration product you keep going back to. These formulas are very intentional and very specific so that they can become those curated essentials that you keep going back to.”
Rhode Beauty Was Sold to Elf Beauty in 2025
On May 28, 2025, it was announced that e.l.f. Beauty signed a $1 billion deal to acquire Rhode Beauty. The deal comprised of a $600 million cash payment, $200 million in shares of e.l.f. stock to Rhode’s existing equityholders and a $200 million earnout based on performance goals, per The Hollywood Reporter.
The outlet reported that Rhode Beauty earned $212 million for the year that ended on March 31, 2025, and was expected to grow when the brand hits Sephora shelves later this year.
Sources Predicted Hailey Bieber’s Rhode Beauty Deal
One month before the deal went public, insiders exclusively told Life & Style in April 2025 that the billionaire status was “very much within” Hailey’s reach due to Rhode Beauty.
“She launched the line less than three years ago, and the success she’s already had is absolutely phenomenal. Hailey could cash out today, but she’s made it very clear she is in this for the long haul,” the source said at the time. “Because Hailey is Justin Bieber’s wife and a social media influencer, some assume she’s slapping her name on the products just to make a buck but the truth is, Hailey has developed each product from the ground up with the goal of creating skincare that actually works.”
The insider explained that Hailey’s own “journey toward healthier skin” and nearly decade-long journey with perioral dermatitis — which causes a rash to appear around her nose and mouth — was a driving force of the endeavor.
“Over the years, she has tried so many products and a lot of them only made her complexion worse,” the insider said. “The whole aim of her label is to offer clean products with minimal ingredients because ultimately, she uses everything herself and she wants to be able to stand behind it.”
