According to a recent TMZ documentary, the renowned singer Justin Bieber reportedly sold his music catalog, a collection of nearly 300 songs, to Hipgnosis Songs Capital for $200 million.
The documentary, titled “TMZ Investigates: What Happened to Justin Bieber?” alleges that the singer was nearing “financial ruin.”
Harvey Levin, the executive producer of TMZ, stated that the “Yummy” singer had generated approximately $500 million to $1 billion 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 revealed in the documentary.
He further claimed that when Justin’s then-manager, Scooter Braun, learned about the sale, he advised the artist to wait until January 2024 for the transaction to benefit from a tax break.
Regarding this, Levin reported, “Justin said, ‘I gotta sell it now.’ And he sold it in December. That’s how broke he was.”
The specifics of how Justin Bieber spent the reported $200 million remain unclear, though one TMZ staff member claimed that he spent $2 million renovating one of his eight buses for the Justice World Tour, frequently used expensive private jets, and paid cash for numerous luxurious mansions.
