Justin Bieber may be one of the most prominent musicians in the world with a net worth of millions of dollars, but a recent report claims that the singer is quickly losing money because of his spending habits.
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According to a source who spoke to InTouch Weekly, Justin and his wife, Hailey Bieber, always travel to their destinations by private jet. However, Justin’s financial problems were so serious that they were forced to go on a promotional tour last month.
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“Even though they always fly separately, Justin simply couldn’t afford it this time,” the insider revealed, adding: “He spends more money than he makes and now We have to cut back on some luxuries.”
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Bieber still hasn’t released a new album in over three years and his last tour was in 2022. This means the money hasn’t hit his bank account yet and that’s causing problems within the team manager of his estate because of an incident in which he was advised not to buy his wife a $700,000 diamond ring.
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It is known that the musician applied for a loan to buy the ring but was rejected, so he bought it directly.
“If Justin doesn’t make some changes soon, he could lose everything. He’ll go bankrupt,” the source added.
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At the time of this writing, Justin Bieber has not yet confirmed whether the rumors circulating about his financial status are true or not.
The recent news comes after the musician sold his entire music catalog, which includes six studio albums: My World 2.0, Under the Mistletoe, Faith, Purpose, Change, And Justice.
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Bustle reports that while the exact amount of money he made from the sale has not been publicly disclosed, it is estimated that he received a whopping $200 million.
In other updates about the pop singer and his wife, Hailey Bieber, the two are expecting their first little bundle of joy with the announcement that the beauty mogul is pregnant.
“Everyone is excited for them… They will be great parents and Justin will be extremely involved. This will be the next big project for him. He is so excited to raise They have a name that they think is perfect,” an insider told People magazine.
The couple has not yet revealed the gender of their child and has not shared the Rhode Beauty founder’s due date.
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