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 rep shut down rumors that her husband Justin Bieber needed the money that the model made from her $1 billion Rhode Skin deal to pay off his debt to his former manager Scooter Braun.

Justin Bieber is reportedly depending on his wife, Hailey Bieber, to pay his $31 million settlement with Scooter Braun. A source told TMZ on Thursday that a term within the settlement specifies that Justin won’t have to pay his former manager until Hailey’s Rhode $1 billion deal with e.l.f. Cosmetics hits their bank account.

After President Donald Trump signed into law his tax and spending bill, which included major changes to student-loan repayment, the Department of Education announced it was beginning to implement some of the new provisions.

Prior to the Rhode Skin founder's clarification, reports circulated that Justin—who shares son Jack Blues Bieber, 11 months, with Hailey—didn't have the money to pay Scooter the $31.5 million they reportedly agreed upon to make up for unpaid commissions and an owed advance that resulted from him canceling his 2022 Justice tour.

Hailey Bieber is denying claims that her husband, Justin Bieber, is relying on the sale of her beauty company to settle his multimillion-dollar debts.

Hailey Bieber offered her hot take on the butter yellow trend, calling the shade "played out." "It's not butter yellow because it's LEMON," the Rhode founder wrote in response to comments about her brand's latest lip launch.

Hailey Bieber and Justin Bieber are supportive of each other's respective ventures, including their footwear endeavors. The Rhode founder rounded out an athleisure look in Los Angeles on Wednesday with a pair of slippers from her husband's mysterious Skylrk brand, giving the shoes her style stamp.