Justin Bieber mulls lawsuit against former managers for allegedly mismanaging his $300M fortune

LOS ANGELES, CALIFORNIA: Justin Bieber is reportedly contemplating legal action against his former business managers for mismanaging his finances.

The "Peaches" singer has been furious for several years, convinced that he has lost a significant amount of money due to the decisions made by his ex managers, sources informed TMZ on Wednesday, October 23.

Justin Bieber's team divided on lawsuit over alleged mismanagement

Although the exact amount of money Bieber, 30, suspects has been mismanaged is not clear, insiders have reported that he is considering legal action against those responsible.

However, the pop star's current team is reportedly split on the issue of a potential lawsuit. Those opposed to legal action argue that Bieber has been spending irresponsibly for some time, leading to his own financial issues, as reported by TMZ.

The singer known for "Never Say Never," with an estimated net worth of $300 million, significantly increased his fortune in January 2023 by selling his music catalog to Hipgnosis Songs Capital for $200 million, Page Six reports.

The agreement encompassed shares of Bieber's publishing and recorded music catalog, stakes in his publishing copyrights, master recordings, and neighboring rights across his complete back catalog.

Hipgnosis acquires song catalogs from artists and generates revenue through online streaming, as well as the use of these songs in movies and advertisements.

Justin Bieber's journey from early fame to recent business changes amid financial concerns

Justin Bieber's rise to fame began at the age of 13, following the success of his 2010 hit song "Baby."

Prior to the sale of his music rights, the "Sorry" singer, who recently become a father to son Jack Blues with his wife Hailey Bieber, reportedly had a net worth of $100 million.

Earlier this year, Bieber ended his association with business manager Lou Taylor​ and appointed Edward White, who is also associated with Johnny Depp, as her replacement. The managers involved were not identified in the TMZ report.

Internet demands action against Lou Taylor

As soon as the news reached social media, it sparked a wave of reactions from users. A user wrote, "He needs to get in contact with Britney, they should do it together".

Another made a same comment saying, "We got you Bieber and call Britney".

The third commentator remarked, "Lou Taylor? Tri-Star? Ask Britney or her lawyer friend - Matt Rosengart".

Some users even want the authority to "investigate Lou Taylor".

"Lou Taylor can't run forever," stated a person.

Other chimed in, "LOU TAYLOR SHOULD BE IN JAIL RN".

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online