Pop sensation Justin Bieber is reportedly embroiled in a financial dispute involving hundreds of millions of dollars in debt, sparking rumors of potential bankruptcy.
On October 14th, U.S. entertainment outlets TMZ, Forbes, and The Hollywood Reporter revealed that Bieber allegedly owes his former manager, Scooter Braun, approximately $8.8 million.
The controversy began with the premature cancellation of Bieber's 'Justice' World Tour in 2022 due to health issues. This led to a $24 million debt from a $40 million advance payment.
Scooter Braun's company, HYBE America, initially covered the penalty, with Bieber agreeing to repay over ten years. However, after making one installment, Bieber reportedly ceased further payments. His business manager, Lou Taylor, accused Braun of taking excessive fees, claiming $26 million was unfairly pocketed.
HYBE America countered these claims with an internal audit, concluding Bieber owed over $1 million more to Braun. To address the escalating controversy, HYBE commissioned an external audit by PwC, which confirmed Bieber's debt to Braun at approximately $8.806 million.
Speculation about Bieber's financial health intensified, with The Hollywood Reporter noting unpaid dues to AEG and severed ties with former team members. A source expressed concern, stating, "Justin Bieber currently lacks anyone to protect or advise him."
Bieber's camp swiftly refuted these reports, issuing a statement dismissing them as "distorted claims from unnamed sources" and "false information from individuals no longer associated with him." They emphasized that Bieber remains focused on his path, unaffected by external speculation.
Meanwhile, TMZ plans to air a documentary titled 'TMZ Investigates: What Happened to Justin Bieber,' exploring related issues of mental health, marriage, religion, and financial disputes.