Earlier this year, Mr Musk spearheaded a failed attempt to buy it.
It has expanded rapidly thanks in part to its online popularity, reporting more than $200m in net sales over the 12 months to March, with plans of being offered in Sephora stores in the US and UK this year.In its announcement of the deal, buyer e.l.f. Beauty called the business "a beautiful brand that we believe is ready for rocketship growth".
e.l.f - short for eyes, lips and face - is paying $800m in cash and stock for the company, with a further $200m payout possible depending on future sales growth.The deal is expected to close later this year.Ms Bieber, who will stay with the company as chief creative officer, wrote on social media that the deal marked the "next chapter" for the brand. Other co-founders and current executives will continue to lead the business after the sale.
"Our partnership with e.l.f. Beauty marks an incredible opportunity to elevate and accelerate our ability to reach more of our community with even more innovative products and widen our distribution globally," she said in the business announcement.The brand has become particularly popular on social media, with viral TikToks about their pocket blush and "peptide lip treatments".
Ms Bieber's decision to launch a beauty line follows in the footsteps of other celebrities, such as Rihanna, whose Fenty Beauty was worth nearly $3bn last year, according to Forbes estimates.
It also follows Kylie Jenner, who sold a stake of her cosmetics company in 2020 to Coty for $600m, and Selena Gomez's Rare Beauty line, which earned her a place on the Bloomberg billionaire index last year.There were protests on the other side too, backing Yoon and his martial law order. Throughout, many young South Korean men have supported Yoon, who positioned himself as a champion of theirs, mirroring their grievances in his presidential campaign in 2022.
These men consider themselves victims of "reverse discrimination", saying they feel marginalised by policies that favour young women. One that is often cited is the mandatory 18 months they must spend in the military, which they believe puts them at a severe disadvantage compared to women.They label as "man haters" those women who call themselves feminists. And they have been at the heart of a fierce online backlash against calls for greater gender equality.
These groups have long existed, mostly out of the public eye. But over the years they moved closer to the mainstream as their traction online grew, especially under Yoon.It was them that Yoon appealed to in his campaign pledges, vowing to abolish the Ministry of Gender Equality and Family, saying it focused too much on women's rights.