Rumors about Justin Bieber‘s finances are not right on the money.
In fact, after an April 16 report in The Hollywood Reporter—citing multiple insiders familiar with the “Peaches” singer’s finances until recently—suggested he’s overstretched mostly due to real estate purchases and renovations and vacations, his reps set the record straight.
“Any source that is trying to sell you a story about alleged financial distress,” they told the outlet, “either doesn’t understand the entertainment industry or, more likely, is trying to paint an unflattering portrait of Justin, which bears no resemblance to reality.”
Indeed, a rep for Justin also tells E! News that as he moves forward, “These unnecessary stories and inaccurate assumptions will continue. But, they won’t deter him from staying committed to following the right path.”
The report was published less than a week after Justin announced that he and Drew House, the clothing brand bearing his middle name that he cofounded with former stylist Ryan Good in 2018, had cut ties.
“I Justin Bieber am no longer involved in this brand,” the “Yummy” singer wrote on his Instagram Stories April 10. “Drewhouse [sic] doesn’t represent me or family or life.”
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