.png)
Justin Bieber's terrible financial problems have recently come to light.
According to a new TMZ documentary, the Baby hitmaker sold his song portfolio, which includes roughly 300 songs, to Hipgnosis Songs Capital for $200 million.
The documentary is called TMZ Investigates: What Happened to Justin Bieber? said that the singer was on the edge of "financial collapse."
According to Harvey Levin, the TMZ executive producer, the Yummy singer has made between $500 million and $1 billion in his career, but finally "had to sell his music catalog because he was broke," following the termination 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 'financial collapse.'" "That's why he had to sell his catalog," Levin explained in the documentary.
He further said that when Justin's then-manager, Scooter Braun, learned of the transaction, he advised the singer to wait until January 2024 to receive a tax advantage.
Levin stated that Justin responded, 'I have sell it immediately.'" He sold it in December. "That's how broke he was."
It's unclear how Justin Bieber spent the estimated $200 million, but one TMZ staffer claims he spent $2 million remodeling one of his eight Justice World Tour vans, traveling on luxury aircraft, and paying cash for numerous opulent residences.
