Hailey Bieber is opening up about what she plans on doing with the money she earned after selling her skincare company Rhode.
Back in May, it was announced that the 28-year-old model sold her popular beauty brand to Elf Cosmetics in a $1 billion deal.
In a new interview, Hailey revealed what she plans on doing with the money she made in the massive deal.
Keep reading to find out more…Hailey told WSJ. Magazine that she will be keeping the money safe for her and husband Justin Bieber‘s 14-month-old son Jack to have one day.
“I want to preserve that for my son’s future,” Hailey shared. “It’s an amount of money that I have not dealt with before, so I just want to be smart with it.”
In the deal, Hailey split $800 million in cash and stock with Rhode CEO Nick Vlahos, as well as her co-founders Lauren Ratner and Michael D. Ratner.
Along with saving money for her son, Hailey said she “would like to invest it wisely.”
Also in the new interview, Hailey explained why she doesn’t show photos of Jack‘s face on social media.
“Until your child can understand it and it’s possible to have conversation around it, have no interest in putting him out there in any way,” Hailey explained.
With the acquisition, it was also revealed that Hailey will move into a few roles within the company.