Stephen Baldwin has hailed Hailey Bieber as being "super smart" amid her billion-dollar business sale

Speaking on The Adam Corolla Show podcast, he said: "The cool part of it is she's super smart, smart in business.

"Succeeded as a model prior to everything she's doing now. But the cool part was she actually had an offer to do something pretty big and cool in the cosmetics a couple years ago and didn't.

"The reason it's succeeding is people are responding to it. It actually works as hydration and all of that."

Stephen - who is also father to actress Alaia, 32, - added that he has "remained the same" throught the success of his children and insisted that they can always rely on him to be honest with them.

He said: "The sweet part of my kids, too, is, in the wake of whatever their success is, their dad remains the same. I've always been the same way. You know you're going to tell your daughter the truth."

Hailey - who is married to pop star Justin Bieber and has 11-month-old son Jack Blues with him - sold her company to e.l.f. Beauty in a deal estimated to be worth up to $1 billion, but she'll stay on as chief creative officer and head of innovation as well as acting as a consultant to e.l.f. Beauty - and Hailey is adamant the arrangement will help her take the products to a whole new level and expand across the world.

She told Glamour magazine: "When you're launching a brand, you're just so focused on what's right in front of you at the time.

"And of course, you always have really big dreams and really big goals for it. This is definitely one of those things being realised. I could have never anticipated that it would happen at this exact time ...

"I'm super excited ... I'll be the chief creative officer and head of innovation at Rhode and advisor to Elf Beauty.

"I feel like at this very moment in time, my vision has not been more clear to me. I want to expand globally, and I have so many more dreams and goals that I want to be realised. And I really believe that Elf is going to help us get there."