Justin Bieber has recently been facing financial constraints after he sold his song catalog in December 2022.
In a new TMZ documentary, the Baby hit-maker dropped almost 300-song collection to Hipgnosis Songs Capital for a reported $200 million.
It was mainly because he was on the verge of “financial collapse,” said a new documentary titled TMZ Investigates: What Happened to Justin Bieber?
In the documentary, which is streaming on Hulu, TMZ executive producer Harvey Levin revealed the Peaches singer collected between $500 million and $1 billion throughout his career.
However, Harvey stated he “had to sell his music catalog because he was broke,” because of debts after he 2022 cancellation of his Justice World Tour.
“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,” explained the executive producer in the documentary.
Harvey opened up that Justin’s former manager Scooter Braun encouraged the singer to wait until January 2023 to make the sale for tax break.
“Justin said, ‘I gotta sell it now.’ And he sold it in December. That’s how broke he was,” claimed the executive producer.
Elsewhere in the documentary, TMZ executive producer Don Nash alleged that Justin would have made $90 million if he had finished his Justice World Tour, which he cancelled in September 2022 in order to prioritise his mental health.
The TMZ documentary came one month after The Hollywood Reporter published a story similarly claiming that the singer had been left with millions of dollars in debt after cancelling the tour.
At the time, Justin’s spokesperson lashed out at the outlet’s sources in a statement.
“This is just clickbait stupidity based on unnamed — and clearly ill-informed — ‘sources,’ disappointed that they no longer work with Justin,” said a singer’s rep.
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