Justin Bieber is reportedly in massive debt to his long-time friend and former manager, Scooter Braun. TMZ recently reported that Pricewaterhouse, or PWC, an independent auditor hired by Braun’s current company, Hybe, showed that Bieber owed the businessman approximately $8,806,000, after conducting a 6-month-long audit. The $8.8 million figure is completely documented, as per the news outlet.
Justin Bieber’s canceled tour is why he owes millions of dollars to Scooter Braun, ‘source’ says
Justin Bieber, who now has an estranged relationship with his ex-manager, Scooter Braun, allegedly owes millions of dollars to the businessman, who is now associated with Hybe. According to TMZ, multiple sources told them the singer was “broke” after cancelling his 2022 Justice World Tour due to health concerns. The artist owed the concert promoter, AEG, $24 million as they gave him $40M upfront in advance. However, the singer ended the tour early.
At that time, Braun’s company, Hybe, decided to pay off Bieber’s debt. Meanwhile, the singer agreed to pay back the amount to Hybe over 10 years. As reported by Page Six, an insider told them that Braun “stepped in to help him.” TMZ reported that Bieber had made only one installment, after which he allegedly “stopped paying.”
The insider told the publication that people from Bieber’s end called and claimed that the musician did not have the money. Meanwhile, sources close to Bieber claimed that Lou Taylor, the singer’s business manager, began to dig into the books. The manager came up with the conclusion that Braun was allegedly overpaid by $26 million in commissions.
According to TMZ, this led Hybe to conduct an internal audit. The reports determined that Justin Bieber owed Scooter Braun $1 million as he had underpaid him in commission. After Hybe hired PWC, they determined that the artist owed his former manager around $8,806,000.
Originally reported by Nikita Nath on Reality Tea.
