The REAL Reason Justin Bieber Sold His Entire Music Catalog For $200 Million...

Remember when Justin Bieber sold his music rights a few years ago? Apparently it wasn’t on a whim — he had no other choice!

The pop star sold his entire music catalog to Hipgnosis Songs Capital for $200 million in December 2022. As a result, Justin would not receive any royalties for nearly 300 tracks he released before December 31, 2021. His move was a big shock. While artists have sold their catalogs before, you normally don’t see someone so young do it. And Justin is the youngest so far! AND still so popular. We mean, he already had examples close to him of stars who wished they’d never done it! So why did he? As we’ve heard a lot lately about the Biebs, it all comes down to money problems.

According to a new documentary called TMZ Investigates: What Happened to Justin Bieber?, Justin sold his catalog because he was on the verge of “financial collapse” in 2022. Whoa. TMZ executive producer Harvey Levin claimed the singer made between $500 million and $1 billion during his career but “had to sell his music catalog because he was broke,” especially due to the cancellation of the Justice World Tour. He reportedly still owes former manager Scooter Braun a lottttt of money for the tour! Levin explained:

“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 then claimed Scooter heard about the sale and encouraged the Yummy artist to push it back until January 2023 in order to get a tax break. However, Justin couldn’t — allegedly because he needed money ASAP:

“Justin said, ‘I gotta sell it now.’ And he sold it in December. That’s how broke he was.”

Jeez. While it is unknown how Justin pissed his fortune away, one TMZ staff member claimed the musician had eight buses on his Justice World Tour and spent $2 million renovating one, as well as a few on expensive planes and paid cash for multiple mansions.

At this time, Justin hasn’t addressed the latest claims. But what are your reactions, Perezcious readers? Let us know!

[Image via Justin Bieber/YouTube]