Justin Bieber considers suing business managers for squandering $300M fortune: report
Is it too late now to say sorry?
Justin Bieber is reportedly considering taking legal action against his former business managers for mismanaging his money.
The “Peaches” singer has been livid for several years because he believes he has lost a lot of dough due to decisions made by his managers, sources told TMZ Wednesday.
Though it is unclear exactly how much money Bieber, 30, believes has been squandered, the insiders told the outlet that he has been discussing the possibility of suing those responsible.
However, the pop star’s current team is reportedly divided about a potential lawsuit.
Those who are against legal action claim Bieber was spending irresponsibly for some time and caused his own issues, according to TMZ.
Page Six has reached out to his rep for comment but did not immediately hear back.
The “Never Say Never” crooner, who has an estimated net worth of $300 million, made the bulk of his fortune in January 2023 when he sold his music catalog for $200 million to Hipgnosis Songs Capital.
The deal included shares of Bieber’s publishing and recorded-music catalog, interest in his publishing copyrights, master recordings and neighboring rights for his entire back catalog.
Hipgnosis buys song catalogs from artists and earns revenue when their music is streamed online or used in movies or advertising.
Bieber rose to fame when he was 13 years old following the success of his 2010 song “Baby.”
Before selling his music rights, the “Sorry” singer, who recently welcomed son Jack with wife Hailey Bieber, was reportedly worth $100 million.
Justin parted ways with his business manager Lou Taylor earlier this year and replaced her with Edward White, who also works with Johnny Depp. TMZ did not name the managers in question in its report.
