Jessica Alba‘s hard work is paying off!
The 40-year-old actress and entrepeneur’s The Honest Company went public on Wednesday (May 5) and raised $413 million its IPO, THR reported Thursday (May 6).
The company, which trades under the ticket HNST, opened with its price rising more than 40%, closing at $23 a share, and valued at more than $1.4 billion.
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Jessica herself owns more than 5.6 million shares of The Honest Company, worth nearly $130 million as of the closing price. She will also receive a one-time $2.6 million dividend, and will be getting a $700,000 base salary starting in 2022 from the company, plus an annual cash bonus worth up to $500,000, as well as annual restricted stock units valued at $1.5 million, up to $3 million in 2024.
“We believe that the success of our brand depends in part on our ongoing affiliation with Jessica Alba. The loss of the services of Ms. Alba, or the loss of our ability to use Ms. Alba’s likeness, could have an adverse effect on our business, financial condition, results of operations and prospects,” the company declared of their connection to the star.
“We plan to accelerate our growth outside the United States by leveraging the Honest brand and global reach of Jessica Alba. We plan to prioritize markets where consumer trends toward clean, ingredient-led products in our categories are accelerating.”
She was joined by her three children to ring the NASDAQ bell on the day the company went public.
Find out what Jessica Alba recently said about building her brand.