Speculation around Justin Bieber’s finances has taken over social media, with many fans wondering if the pop star is facing serious debt. This comes after a recent report suggested he might owe millions following the abrupt cancellation of his Justice World Tour. Now, many fans are wondering about what happened.
Here is what Bieber said about his financial situation.
Is Justin Bieber in debt?
Reports have recently circulated questioning Justin Bieber’s financial status. Some suggest he may be in serious debt following the abrupt end of his Justice World Tour in 2023. New reports claimed that canceling the tour led to financial fallout, including an alleged $20 million owed to tour promoter AEG. According to the outlet, Bieber had received a $40 million advance and has only returned part of it.
In response to these rumors, Bieber’s team has firmly denied the claims. They called the reports “clickbait stupidity” and criticized the unnamed sources behind them. Their statement to US Magazine read, “As Justin forges his own way forward, these unnecessary stories and inaccurate assumptions will continue. But they won’t deter him from staying committed to following the right path.”
In another statement to The Hollywood Reporter, they emphasized that such stories are inaccurate and an attempt to ruin Bieber’s reputation. The statement read, “Any source that is trying to sell you a story about alleged financial distress… Either doesn’t understand the entertainment industry or, more likely, is trying to paint an unflattering portrait of Justin, which bears no resemblance to reality.”
The article from The Hollywood Reporter also referenced Bieber’s January 2023 decision to sell his entire music catalog for $200 million. This included his publishing rights, master recordings, and back catalog. While the deal was initially set to go through at $140 million, Bieber’s team, including his former manager Scooter Braun, successfully negotiated the price to $200 million. This sale was expected to provide Bieber with long-term financial security.
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