'Broke' Justin Bieber sold his music catalog for $200 million to survive ‘financial collapse': Report
Singer Justin Bieber has been in the limelight for quite some time now- sometimes for his erratic behaviour on social media, rumours about marital trouble and issues with wife Hailey Bieber, and even on the verge of being broke. A new report from TMZ has now disclosed that the singer had to sell the rights to his music to escape a financial crisis. (Also read: Justin Bieber breaks silence on divorce rumours with Hailey Beiber, health issues: 'I am flawed and God forgave me')
The report adds that sources close to the singer have said that Justin was on the verge of a 'financial collapse' in 2022. The situation became so crucial that he had to sell the rights of his music to recover.
His former manager Scooter Braun was against this idea, adds the report. The sources say, 'Justin's manager Scooter Braun tried to tell him it was a bad idea to sell so early in his career, and to at least wait until January 2023 to get a tax break.' But Justin did not want to wait any longer and decided to sell it at the end of the year.
Justin is the youngest singer to have sold his music catalog. These revelations are being made through the new documentary 'TMZ Investigates: What Happened to Justin Bieber'.
Justin was discovered by Scooter Braun at 13 years old when the music manager and executive found him on YouTube. They worked together for almost a decade before parting ways in 2023.
Last month, Justin had shared a reflective and emotional message through his Instagram Stories on online attention to his personal life. He wrote, 'Every day I wake up thinking maybe I am too flawed for God to utilise me in this beautiful story of life. Yet God uses me (flaws and all) everyday. The same way he uses you. Our life is significant. God has a plan for us. Nothing disqualifies us from experiencing God's good plans for our life. I am choosing today to allow God's love and grace to shape my day and give me perspective and not make my day about trying to prove myself. Join me if you want.'
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