Justin Bieber Debating Lawsuit Against Managers for Wasting His Massive Fortune: Report

Justin Bieber is debating whether to file a lawsuit against some of his former business managers after they allegedly “grossly mismanaged” part of the singer’s fortune on bad decisions, TMZ reported on Wednesday, October 23.

The “Peaches” singer, 30, has been upset for “several years,” according to the site, which reported it was unclear how many managers were involved, but that it was “more than one.”

It was “unclear” how much money Justin believes was wasted, other than that it was a “huge” sum. Justin has a $300 million fortune as of 2024, according to Celebrity Net Worth.

The outlet reported Justin’s team was split on whether or not to sue, with one side feeling they shouldn’t bring a legal action because the Canada native had a period in his life where he was wildly spending his money, putting a big dent in his fortune.

Justin brought in a huge financial windfall when he sold the rights to his music catalog for more than $200 million in 2023. In Touch exclusively reported on June 19 that he was already running through his cash.

The Grammy winner and wife Hailey Bieber made the rare move of taking a commercial flight in May because of his dwindling funds. “While they always fly private, Justin simply couldn’t afford it this time,” a source spilled. “He spends more money than he’s got coming in and is now having to cut back on certain luxuries.”

The “Holy” singer hasn’t toured since 2022 and released his last album, Justice, in 2021. According to the insider, Justin’s lack of new income was causing friction with his wealth management team.

“They recently advised him against buying Hailey a $700K diamond ring, so he applied for a loan. But the loan was denied, and he purchased it anyway,” the source revealed. “If Justin doesn’t make some changes soon, he could lose everything. He is going to go broke.”

Justin announced on September 6, 2022, that he was cancelling his North American leg of his Justice world tour, following his battle with Ramsay-Hunt Syndrome.

The “Sorry” singer revealed he felt “exhausted” after performing at the Rock in Rio festival in Brazil on September 4, 2022, which led to his decision. “After getting off stage, the exhaustion overtook me and I realized that I need to make my health the priority right now,” his announcement read. “So, I’m going to take a break from touring for the time being.” He never resumed his tour.

Justin told fans in June 2022 about his health battle while showing the physical effects on his face. “Obviously as you can see from my face, I have this syndrome called Ramsay Hunt Syndrome, and it is from this virus that attacks the nerve in my ear and facial nerves and has caused my face to have paralysis,” he explained in an Instagram video.

“I hope you guys understand, and I’ll be using this time to rest and relax and get back to 100 percent so that I can do what I was born to do,” he continued. “But in the meantime, this ain’t it. I gotta go get my rest on so that I can get my face back to where it’s supposed to be.”