Justin Bieber’s team is denying reports that the pop star is in “financial distress,” in the form of US$20mil (RM88.26mil) tour debt.
Sources told The Hollywood Reporter that the 31-year-old Sorry crooner owes a hefty debt to manager Scooter Braun’s company, after Bieber cancelled his Justice world tour in 2022.
As tour promoter AEG had given Bieber a US$40mil (RM176.62mil) advance, insiders say he still owed over US$20mil, which was put up by Braun’s company and only some of which Bieber has thus far repaid.
Those recently familiar with the Grammy winner’s finances also told THR that despite selling his entire music catalogue for US$200mil (RM883.11mil) in January 2023, Bieber is essentially writing checks he can’t cash.
The Yummy singer’s camp meanwhile told the magazine, “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 outlet reports that cancelling the tour with a year’s worth of shows still scheduled meant Bieber left an estimated US$90mil (RM397.37mil) on the table and was forced to let go more than 100 crew members.
Bieber’s team on April 16 told Us Weekly that The Hollywood Reporter’s story is “just clickbait stupidity based on unnamed – and clearly ill-informed – ‘sources,’ disappointed that they no longer work with Justin.”
“As Justin forges his own way forward, these unnecessary stories and inaccurate assumptions will continue,” his team said in a statement. “But they won’t deter him from staying committed to following the right path.” – New York Daily News/Tribune News Service
