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Actress-Turned-Mogul Alba Makes $122 Million in Honest IPO

Beauty firm’s debut values Alba’s 5% stake at $98 million
IPO also results in 260% return for Arnault-backed L Catterton

WATCH: The personal-care products brand Honest Co. jumped 44% in its trading debut, delivering what co-founder Jessica Alba called a “pinch me moment.” (Source: Bloomberg)

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By Devon Pendleton

May 5, 2021 at 2:44 PM UTC

Updated on

May 5, 2021 at 9:06 PM UTC

This article is for subscribers only.

Actress Jessica Alba cemented her claim to one of the most lucrative side gigs in Hollywood after shares of her beauty business, the Honest Co., soared 44% in its market debut.

The “clean” beauty- and baby-products maker’s stock closed at $23 Wednesday after it priced the shares at $16 in its initial public offering. Alba’s roughly 5% stake is valued at $98 million, according to the Bloomberg Billionaires Index. She also has exercisable options valued at about $24 million.