In a statement shared with PEOPLE, a rep for Hailey Bieber says her $1 billion Rhode acquisition has nothing to do with her husband Justin Bieber's "business affairs" following his financial settlement with Scooter Braun.

Hailey Bieber's business is standing on its own regardless of speculation on the future of her $1 billion Rhode deal. On July 10, Hailey's husband, Justin Bieber, reportedly settled a financial dispute with his former manager,

Hailey Bieber just sold Rhode to E.L.F. Beauty for $1 billion, and reps say it has nothing to do with Justin’s $31M Scooter Braun settlement. While she calls it a power move, fans are split on whether selling was the right call.