Justin Bieber Sold His Music Catalog for $200 Million Because He’d Lost His Entire Fortune, New Documentary Claims

Justin Bieber was in dire financial straits when he sold his song catalog in December 2022, according to a new TMZ documentary.

Bieber, 31, unloaded his nearly 300-song collection to Hipgnosis Songs Capital for a reported $200 million — and it was because he was on the verge of “financial collapse,” claims a new documentary titled TMZ Investigates: What Happened to Justin Bieber?

In the documentary, which is streaming on Hulu, TMZ executive producer Harvey Levin claims the “Peaches” singer amassed between $500 million and $1 billion throughout his career, but ultimately “had to sell his music catalog because he was broke,” due in part to debts incurred following the 2022 cancellation of his Justice World Tour.

“I was on a call with multiple people — Justin’s side acknowledges that in 2022, he was on the verge of… the words were ‘financial collapse.’ And that’s why he had to sell his catalog,” Levin alleges in the documentary.

When reached by PEOPLE, a rep for Bieber had no comment.

Levin also alleged that when Bieber’s then-manager Scooter Braun got wind of the sale, he encouraged the star to wait until January 2023 to make the sale in order to get a tax break.

“Justin said, ‘I gotta sell it now.’ And he sold it in December. That’s how broke he was,” Levin claims.

Though it remains unclear just how Bieber spent his fortune, one TMZ staffer alleges that he had eight buses on his Justice World Tour and spent $2 million renovating one, and also flew on expensive jets and paid cash for several mega-mansions.

Elsewhere in the documentary, TMZ executive producer Don Nash claims that Bieber would have made $90 million had he finished his Justice World Tour, which he canceled in September 2022 in order to prioritize his health.

The TMZ documentary comes one month after The Hollywood Reporter published a story similarly claiming that Bieber had been left with millions of dollars in debt after canceling the tour.

At the time, a rep for the star slammed the outlet’s sources in a statement, telling PEOPLE: “This is just clickbait stupidity based on unnamed — and clearly ill-informed — ‘sources,’ disappointed that they no longer work with Justin. As Justin forges his own way forward, these unnecessary stories and inaccurate assumptions will continue. But, they won’t deter him from staying committed to following the right path.”

Meanwhile, a source told PEOPLE that same month that the Grammy winner — who welcomed son Jack Blues in August with wife Hailey Baldwin Bieber — is “facing a lot of different demons right now.”

“He is making some really poor decisions lately, further impacting friendships, money and business. People are worried about him,” the source said.