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.

On July 10, Hailey's husband, Justin Bieber, reportedly settled a financial dispute with his former manager, Scooter Braun. The "Peaches" singer reportedly agreed to pay $26 million to Scooter's company, HYBE, to reconcile money they paid to AEG for his canceled 2022 Justice tour, according to insider sources to People and TMZ.

While critics speculated that the Rhode deal was Justin's financial lifeline, Hailey has made it clear that her billion-dollar empire is hers alone