Justin Bieber made nearly $1 billion as a global icon, now he's in deep financial trouble and sold his music catalog for $200 million to avoid going broke

Justin Bieber was at the pinnacle of success, raking in almost a billion dollars as an international music phenomenon. But, behind the glamour, financial troubles were in the making.

A new documentary tells how he was on the brink of bankruptcy and why he sold his music catalog just in time. The documentary explores his financial woes, mental health, marriage, and career challenges, as quoted in a report by TMZ.

The new documentary from TMZ, "TMZ Investigates: What Happened to Justin Bieber", is currently available on Hulu.

Why did Justin Bieber sell his catalog so young?

Justin Bieber sold his entire music catalog for $200 million in 2022 after almost going bankrupt, the new TMZ documentary has revealed.

ALSO READ: Pope Leo XIV inauguration mass: Date, time, place, live streaming and all top leaders who will attend Despite making as much as $1 billion, overspending and poor money management led to his financial distress. He blew up all his hard-earned money and ended up in such bad financial shape that he had to sell his music catalog.

How bad were his financial problems?

After his Justice tour was cancelled, Justin Bieber found himself in serious financial trouble. According to a series of audits, the pop star owes Scooter Braun, his former manager, millions, as per a report by The Blast.

Despite his public denials, insiders believe Bieber's financial difficulties are real.

According to those close to Justin, he was in danger of "financial collapse" in 2022, to the extent that he felt compelled to sell the rights to his songs that December.

According to reports, Scooter Braun, Justin's manager, tried to advise him against selling so early in his career and to at least wait until January 2023 to receive a tax break. However, Justin refused to wait and sold in December, as per a report by TMZ.

Although many artists have sold their catalogues, Justin is by far the youngest to do so. His decision was largely influenced by his financial situation.

FAQs

Why did Justin Bieber sell his music catalogue?
He was reportedly on the verge of financial ruin in 2022 and sold it for $200 million to avoid bankruptcy.

Where can I watch the documentary about Bieber?
“TMZ Presents: What Happened To Justin Bieber" is now available on Hulu.