Justin Bieber sold his music catalog for $200 million

Due to bankruptcy

31-year-old Canadian singer Justin Bieber sold his music catalog of nearly 300 songs in December 2022 for $200 million to Hipgnosis Songs Capital. According to the new documentary «TMZ Investigates: What Really Happened to Justin Bieber?»available on the Hulu streaming service, the decision was driven by serious financial difficulties the artist was facing.

According to TMZ executive producer Harvey Levin, although Bieber had earned between $500 million and $1 billion over his career, in 2022 he was on the brink of bankruptcy — partly due to debts following the cancellation of his Justice World Tour.

«Justin’s camp admits that in 2022, he was on the verge of financial collapse,» Levin stated. That’s why, he said, Bieber insisted on an urgent sale of his catalog despite his then-manager Scooter Braun’s advice to wait until January 2023 for tax benefits.

The film also mentions that Bieber spent large amounts during the tour, including maintaining eight buses, spending around $2 million to renovate one of them, flying private jets, and purchasing luxury real estate in cash.

Furthermore, the documentary notes that had Bieber completed the canceled tour, he could have earned an additional $90 million. However, it was stopped in September 2022 due to the singer’s health condition.

Photo: Instagram @justinbieber