Justin Bieber is considering filing a lawsuit against his business managers after they allegedly spent a large amount of his multi-million dollar fortune.
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Sources close to the “Baby” hitmaker revealed to TMZ that his former business managers had mismanaged the estimated $300 million fortune. Bieber, understandably upset, allegedly believes he lost a large amount of money due to the decisions the managers made.
The amount lost due to his ex-business managers’ decision was not revealed. Now, the insiders say Justin Bieber is looking into his legal options.
However, those involved in the situation claimed that Bieber was irresponsible and mismanaging his fortune himself for some time. They also believe he has caused his own financial issues.
Justin ended his partnership with his former business manager Lou Taylor earlier this year. He is now working with Edward White, who also works with Pirates of the Caribbean actor Johnny Depp.
The financial situation comes nearly two years after Justin Bieber sold his music catalog for $200 million to Hipgnosis Songs Capital.
According to Page Six, as part of the deal, Bieber sold shears of his publishing, interest in his publishing copyrights, master recordings, and neighboring rights for his entire back catalog.
Justin Bieber’s Wife Hailey Recently Gushed About How He Bought Her a Sweet Gift For ‘Not Reason’
Meanwhile, Justin Bieber’s wife Hailey took to Instagram Story earlier this week to reveal the sweetest gift she received from him for “no reason.”
“@justinbiber bought me a plant for no reason,” Hailey wrote with a picture of a plant. She also used a tear emoji. “it’s the little things.”
The plant was seen soaking up the sunlight inside a teal-colored pot on a side table.
The couple welcomed their first child, a baby boy named Jack Blues, in August.
Bieber recently dealt with drama over his former friendship with disgraced rapper Sean “Diddy” Combs. A source close to the “Sorry” singer stated that while he was aware of Diddy’s arrest and allegations, he is more focused on his family. “It’s not anything that he wants to focus on, though,” they said about Diddy’s legal woes.
The insider also revealed that Justin Bieber has “been in a happy bubble since baby Jack was born.”
“He just wants to focus on being a great dad and husband,” the source insisted.
Another source praised Justin and Hailey for their new baby. “The pregnancy was something that they very much wished and prayed for,” the insider revealed. “The day they found out that Hailey was pregnant was the best ever for Justin. He was over the moon with excitement. It was a big celebration for them,” the insider claimed, adding that “Justin’s already a great dad.”