Singer Justin Bieber is reportedly considering legal action against his former financial managers for allegedly mismanaging his massive fortune.
Sources revealed to TMZ on Wednesday that the “Peaches” singer has been livid for years, convinced he has lost a staggering amount of cash due to his managers’ questionable decisions. While the exact figure of his alleged losses remains under wraps, insiders say he’s been openly discussing the prospect of suing those responsible for his financial turmoil.
Even more surprising is that Bieber’s current team seems divided over a potential lawsuit, pointing fingers at the pop star himself for being “irresponsible” with his finances. An insider revealed to Page Six that the “Ghost” singer’s spending habits are nothing short of “out of control.”
“He spends eye-watering amounts per month. At one point, he couldn’t even get a credit card,” the source claims. The insider alleges that Bieber frequently splurges on private jets, luxury houses, and donations to his spiritual leader and church. Despite having an estimated net worth of $300 million, thanks partly to a $200 million music catalog sale to Hipgnosis Songs Capital in January 2023, Bieber’s financial decisions are raising eyebrows. For context, the deal included his publishing and recorded music catalog and interests in his publishing copyrights, master recordings, and neighboring rights for his entire back catalog.
In a recent shake-up, Justin severed ties with his business manager, Lou Taylor, bringing Edward White on board instead—who also manages Johnny Depp. However, it’s unclear who exactly will be targeted in a potential suit.
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