Justin Bieber owes concert promoter AEG $24 million after receiving a $40 million advance payment for the canceled 2022 Justice Tour.
Bieber's former manager, Scooter Braun, allegedly covered the tour debts with a repayment agreement, with Bieber reportedly making only one installment before stopping payments.
Bieber's business manager, Lou Taylor, discovered that Braun was overpaid in commissions by $26 million, contributing to Bieber's financial troubles.
Sources claim that Bieber's spending habits, including eye-watering monthly expenses and a lavish real estate portfolio, have led to his financial strain.
Despite cashing out $200 million from a catalog publishing rights deal, Bieber is reportedly overextended financially, with sources familiar with his finances indicating significant financial pressure.
Source: comingsoon.net
Justin Bieber Justice Tour & Scooter Braun Loan Reports Explained
REUTERS/Mario Anzuoni
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