Justin Bieber Reportedly Won’t Pay $31 Million Settlement To Ex-Management Company Until The Sale Of Hailey Bieber’s Rhode Beauty Company Closes

Justin Bieber Reportedly Won’t Pay $31 Million Settlement To Ex-Management Company Until The Sale Of Hailey Bieber’s Rhode Beauty Company Closes

Justin Bieber said, “Not so fast.”

According to TMZ, Justin isn’t expected to pay back a $31 million settlement to Hybe, Scooter Braun’s former company, until his wife Hailey Bieber’s company, Rhode, officially closes its sale and the funds hit their account. You may recall that e.l.f. Beauty acquired Rhode for a whopping $1 billion.

A source told the outlet,

“The settlement between Scooter and Justin has one key provision. Justin doesn’t square his $31 million-plus debt until the Rhode deal is closed and fully funded.”

An audit reportedly showed Justin owed $26 million after Hybe covered that amount to AEG when he canceled his Justice tour. He also owed $11 million in back commissions, but Scooter waived $8 million of that. Justin ultimately agreed to pay $26 million plus half of the remaining commissions, totaling around $31.5 million.

 

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It’s alleged that Justin doesn’t have the funds right now, but as an investor in Rhode, he is expecting around $50 million from the sale to cover it.

It’s worth noting that a rep for Hailey said,

“The historic sale of Rhode is a huge accomplishment for Hailey and is completely separate from her husband and his business affairs.”

Thoughts?

[VIA]