Recently in a documentary, it has been revealed that the prominent singer Justin Bieber had to sell off his $200M music catalogue to a music rights investment and management company in 2022. According to the new documentary, Bieber had to sell off his catalogue as the singer was “on the verge of financial collapse”.
Why did Bieber sell off his music catalogue?
In the new investigative documentary titled ‘TMZ Investigates: What Happened to Justin Bieber?’, it was revealed that the singer had been going through some major financial crunch. “I was on a call with multiple people — Justin’s side acknowledges that in 2022, he was on the verge of … the words were ‘financial collapse’. And that’s why he had to sell his catalogue,” claimed the executive director of the firm who made the documentary, according to Page Six. He continued, sharing that “Justin said, ‘I have to sell it now.’ And he sold it in December. That’s how broke he was.”Levin, according to the documentary, had his suspicions that the singer went into massive debt after he cancelled his world tour in 2022. It was also revealed in the video that the singer’s lavish lifestyle for the tour and in general also got in the way. It has been alleged that for the cancelled tour, Justin got 8 buses and spent over $2 million on bus renovations. Along with this, the ‘Sorry’ singer was also spending money on travelling by private jets and living in extravagant mansions.
Many rumours are going on surrounding Justin’s life
This is not the first time financial crunch rumours have arisen about the pop star. During an independent audit done by a leading accounting firm, it was found out that Bieber was in debt worth millions to former manager Scooter Braun. During the audit it was revealed that Justin owed Scooter approximately $8,806,000.
Bieber’s spending habits are up for debate
In an earlier report shared by Page Six itself, it was found that Justin’s spending habits are a major issue behind his financial crisis. A statement was shared from a source, saying, “He spends eye-watering amounts per month. At one point, he couldn’t even get a credit card. Justin is surrounded by a lot of people that do not have his best interests at heart.”Various media outlets had reached out to Justin Bieber for a comment; however, no official statement has been issued.
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