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In 2023, Justin Bieber sold his music catalog to a company called Hipgnosis Songs Capital for $200 million. Hipgnosis is one of those companies that basically buys song catalogs in order to earn royalties when a song appears in a movie or TV show, commercial, or is streamed online. Justin made a ton of money with the sale and now has an estimated net worth of $300. Unfortunately, Justin’s fortune may have been mismanaged by his former business managers. Page Six via TMZ is reporting that Justin has been angry for “several years” because he feels his ex-managers have lost him a lot of money. He’s even considering suing them over it.
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. 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.
This sounds messy, and it’s no wonder that his team is split on what to do. I wonder if he’ll hire a financial investigator to sort it all out for him. Someone who can figure out what Bieber spent vs. any lost money at the hands of his former managers. If his money was mismanaged, then I feel badly for the Biebs. It must suck to feel and be constantly be taken advantage of, no matter how much fame or money you have. Justin is not without his problems, but he does seem to have had the quintessential child-star journey, which is sad. Hopefully, they’ll be able to get to the bottom of this and he can get some better people around him moving forward.
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The same Lou Taylor who was managing Britney’s fortune, which is currently minimal compared to what it should have been, another child star without guiding parents protecting their interests. I hope, Justin can get back what he lost.
While the truth might be in the middle here (neither JB nor LT being 100% responsible for squandering), Lou Taylor has definitely got a very negative track record. If I were Justin, I would definitely make sure that everything this woman did was aboveboard, especially since he was a child star like Britney. And lurking in JB’s past are some interaction with Diddy. He looks like he might be in for a rough period.
JB was minor when he met Diddy, so I am sure you are not insinuating bad behavior on JB’s side. He was very clearly taken advantage of by his managers. I remember, he was touring non-stop at one time that he struggled both physically and psychologically. There is literally no protection for child stars, it is unbelievable. If you have stage parents or uneducated ones, your financial future, health are at the hands of your managers, which, the music history shows, don’t give a sh*t about anything but money.
SevenBlue, Nothing has come out so far, but given the victims, elementary school aged–middle aged, male and female, I’m concerned that there is a good chance that Diddy was not well behaved euphemistically speaking around JB.
Yeah, very unfortunate if true but I am grain of salting this for now. There’s been a few times where stars suing the business manager has been on the grounds of “how dare they not stop me their employer from spending $200,000 a month a parties”. Mmmhmmm. So we shall see.
Justin was really out of control there for a while, he had so many sports cars. It reminds me a lot of Johnny Depp blaming his business managers for his $100k/month wine habit. It’s possible Justin was taken advantage of, but it’s also possible that he spent way more than he realized during his phase when he was acting out.
We still don’t know what happened to Britneys money especially from her perfume sales from revlon. Her brother claimed that they had sold over 100 billions worth over the years yet Britney only had 60 million to her name in total according to her dad the conservator… Even if she had the worst royalty deal she still should have had a lot more money than what was accounted for. Lou Taylor has her own church if I’m not mistaken and she is also very involved with the kardashians not to mention diddy. I feel like it’s the worst mismanagement ever, theft or a ponzi scheme. I also wonder if artists that sell their catalouges gets to keep all the money or if management and agents takes their cut on that too.
I honestly feel this Lou woman has dirt on people, because How??? I cant wait for the exposé on her,she seems like a vulture.
I think you mean $300M
Haha I definitely had to read it twice. I was like “well yeah if he only has a net worth of $300 he SHOULD sue!”.
🤣🤣
Seriously
I know it’s the thing to do, but why spend millions in lawyer fees just to get the same amount back? These cases drag on for years and Justin should consider himself extremely lucky that he survived the fame gauntlet as well as he did. He has f.u. money already and should leave it alone. If he’s not careful his former managers can very easily link his spending to indulgence and unsavory activities.
Sometimes it’s just a means to bleed the other party dry. Not sure how effective that is though when both parties are worth hundreds of millions….
Exactly. They’re playing a very expensive game that lawyers will do their well-paid best to keep in litigation for as long as possible. I completely missed the Beiber craze and can’t hum a single one of his songs. That he’s still in the news astounds me. However, he does seem to be in a stable relationship so good on him.
That is a lot of money. How do you keep track of it? I would not have just one person in charge of it. Spread that out and get different advisors. His talent has turned out to be a bit of a curse. I feel like he got discovered too young.
There’s never 1 person in charge at a business management company. It’s a team, and they usually have outside teams for investments, etc.
I remember when Taylor Swift was asked on Vogue’s 73 questions about the best advice she can give to aspiring singers and her response was an immediate “Get a good lawyer.”
At the level of wealth Bieber and Britney both earned it is terrible how they have been victimized by crooks and/or family.
Decades ago, The Rolling Stones admitted that they “sold out” to Corporate sponsors to underwrite their tour. Jagger famously said “We created, toured and we Had To get sponsorship. We’ve been ripped off for years.”
Finding people to trust at that level of money, I’d think Bruce S. and certainly Paul McCartney must have the best in the business working for them.
I hope Taylor Swift has excellent people on her team.
I’m pretty sure she does… other up and coming musicians have shared in recent years she has sat them down and given them Music Industry for Dummies and they’ve said that helped get them on top of their financial situation.
Her parents have always been very involved in the management of her career as she was pretty much a child star too, but they were both well-paid professionals, so she was never in the position of needing to be the main breadwinner unlike other famous kids which is what really screws them up. Given I think she’s currently the wealthiest musician (female musician? either way) solely from music – no fashion lines, makeup etc – I think she’s doing ok.
Bieber and Britney both came from humble starts, their parents had little to no financial smarts.
The list of creative talent who earned huge and either pissed it away themselves, or had crooked people stealing them blind is terribly long.
Al Pacino has a bio out, and talks about “going broke twice”
Diane Keaton, his gf at the time, went along to meeting with his financial team/lawyers.
Pacino tells the story that Diane, at one point, and yelled at everyone something like
“He is a terrific talent in acting. He is also an Idiot when it comes to money! Treat him as needed.”
Pacino “broke” well, I did have several very nice houses, 26 nice cars, etc., etc. but I wanted them.
smh, I wish I had such money troubles, Al.
“Justin (made a ton of money with the sale and) now has an estimated net worth of $300.” 😂
Justin was so young when he rose to stardom. He was preyed upon by those in the industry and his so-called protectors were missing in action. Shame on them. He was ridiculed when he was acting up and obviously wading through the muck and confusion of abuse all by himself, being labeled as a douch-y, privileged white boy. Shame on us. We need to do a better job as a society of asking questions and listening to young people, male or female. My heart goes out to him. May we do better for other young people now and into the future.
My heart broke a little when he said he wants to support young artists so they don’t go through what he did.
I used to find him so annoying, but always side-eyeing his parents at the same time. In retrospect, I don’t know what type of behavior I expected from a kid with so many leeches and emotional vampires attached to him. The Diddy stuff makes me feel even worse about what he might have endured. Hope all is well with him now and going forward; he’s still a young man and has a long future ahead of him.
Whew!
Taking these people down makes zero sense financially, HOWEVER, I honestly wish someone or a group of persons would.