Theo Wargo/Getty Justin Bieber was on the verge of "financial collapse" when he sold his music catalog in 2022, a new TMZ documentary claims The singer sold his catalog for a reported $200 million to Hipgnosis Songs Capital The debt was allegedly incurred following the cancellation of his Justice World Tour Justin Bieberwas in dire financial straits when hesold his song catalogin December 2022, according to a new TMZ documentary. Bieber, 31, unloaded his nearly 300-song collection to Hipgnosis Songs Capital for a reported $200 million — and it was because he was on the verge of "financial collapse," claims a new documentary titledTMZ Investigates: What Happened to Justin Bieber? In the documentary, which is streaming on Hulu, TMZ executive producer Harvey Levin claims the "Peaches" singer amassed between $500 million and $1 billion throughout his career, but ultimately "had to sell his music catalog because he was broke," due in part to debts incurred following the 2022 cancellation of his Justice World Tour. "I was on a call with multiple people — Justin's side acknowledges that in 2022, he was on the verge of… the words were 'financial collapse.' And that's why he had to sell his catalog," Levin alleges in the documentary. A rep for Bieber did not immediately respond to PEOPLE's request for comment. Joseph Okpako/WireImage Levin also alleged that when Bieber's then-managerScooter Braungot wind of the sale, he encouraged the star to wait until January 2023 to make the sale in order to get a tax break. "Justin said, 'I gotta sell it now.' And he sold it in December. That's how broke he was," Levin claims. Though it remains unclear just how Bieber spent his fortune, one TMZ staffer alleges that he had eight buses on his Justice World Tour and spent $2 million renovating one, and also flew on expensive jets and paid cash for several mega-mansions. Elsewhere in the documentary, TMZ executive producer Don Nash claims that Bieber would have made $90 million had he finished his Justice World Tour, which hecanceled in September 2022in order to prioritize his health. Jon Kopaloff/Getty The TMZ documentary comes one month afterThe Hollywood Reporterpublished a story similarly claiming that Bieber had been left with millions of dollars in debt after canceling the tour. At the time, a rep for the star slammed the outlet's sources in a statement, telling PEOPLE: "This 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. But, they won't deter him from staying committed to following the right path." Meanwhile, a source told PEOPLE that same month that the Grammy winner — who welcomed sonJack Bluesin August with wifeHailey Bieber— is "facing a lot of different demons right now." "He is making some really poor decisions lately, further impacting friendships, money and business. People are worried about him," the source said. Read the original article onPeople
