According to Celebrity Net Worth, Justin Bieber is worth four hundred million dollars, and he just sold his music catalog for more than half that.
After much negotiation the deal is done, Variety reports that Justin has sold all shares of his publishing and recorded music catalog to Hipgnosis Songs Capital for over $200 million. The agreement also contains his entire recording history of close to three hundred songs that were released before December 31, 2021.
Variety quotes Justin’s manager Scooter Braun as saying, “When Justin made the decision to make a catalog deal, we quickly found the best partner to preserve and grow this amazing legacy was…Hipgnosis. For 15 years I have been grateful to witness this journey and today I am happy for all those involved. Justin’s greatness is just beginning.”
Variety also shared information that the founder and CEO of Hipgnosis, Merck Mercuriadis, said in a statement, “The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable. This acquisition ranks among the biggest deals ever made for an artist under the age of 70.”
While most artists who sell their catalogs tend to be classic and legendary rock acts like Bruce Springsteen ($500 million), Bob Dylan ($200 million), and Fleetwood Mac, Hipgnosis has spent millions of dollars on the catalogs of younger artists too like Justin Timberlake ($100 million).
The company also owns a portion of the rights to hit songs like “Despacito,” Mariah Carey‘s “We Belong Together” and “Touch My Body,” Madonna and Britney Spears‘ “Me Against the Music,” Usher‘s “Yeah,” The Chainsmoker‘s “Closer,” Ed Sheeran‘s “Shape of You” and Maroon 5‘s “Girls Like You.”
According to Hipgnosis Song Fund’s website, it is “the first UK investment company offering investors a pure-play exposure to Songs and associated musical intellectual property rights. Our focus is building a diversiﬁed Portfolio, acquiring Catalogues that are built around proven hit Songs of cultural importance by some of the most talented and important Songwriters globally.”