Justin Bieber’s severe financial struggles just came to light.
As per a new TMZ documentary, the Baby hitmaker sold his song catalog, nearly 300-song collection, to Hipgnosis Songs Capital for 200 million dollars reportedly.
The documentary titled, TMZ Investigates: What Happened to Justin Bieber? claims that the singer was on the verge of a “financial collapse.”
Harvey Levin, the TMZ executive producer claims that the Yummy singer has generated around 500 million to 1 billion dollars throughout his career, but ultimately “had to sell his music catalog because he was broke,” following the cancellation of his Justice World Tour in 2022.
“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 catalog,” Levin stated in the documentary.
He also claimed that when Justin’s then-manager, Scooter Braun got to know of the sale, he encouraged the artist to wait till January 2024 for his sale in order to get a tax break.
Over this, Levin reported, “Justin said, ‘I gotta sell it now.’ And he sold it in December. That’s how broke he was.”
It remains unclear how Justin Bieber spent the reported 200 million, with one TMZ staffer claiming that he spent 2 million dollars in renovating one of his eight buses of the Justice World Tour, flying in expensive jets and paying cash for many luxurious mansions.
