In recent months, pop star Justin Bieber has been on an apology tour with the intent of rehabbing his tarnished image. But while his reputation isn’t squeaky-clean and the heartthrob has taken some serious hits in recent months, his bank account is likely healthier than ever due to his unusually sharp business acumen.
Although it would be easy to get the impression that he spends all his money on cars and trips around the world, Bieber has actually maintained a respectable stock portfolio since he first rose to prominence in the late 2000s. On the advice of his manager, Scott “Scooter” Braun, Bieber has purchased small stakes in companies like Spotify, Stamped and Sojo Studios.
Even though his brand isn’t as strong as it once was, Bieber could live off the endorsement deals he signed as a fresh-faced youth for years to come. In 2010, Justin made a $12 million deal with OPI to design and market a signature line of nail polish. Bieber also received big bucks for promoting Adidas, Proactiv and Calvin Klein.
With a few years of investing experience under his belt, Bieber began to dip his toes into the entrepreneurship waters recently. In Nov. 2013, Justin was one of the seed investors in shots:), a photo-sharing social network app. As opposed to his other investments, Bieber has been very public about his support for the company, frequently hyping it up to his legions of fans.
Justin attracted a lot of attention with the release of the oddball music video for his comeback single “Sorry.” In a little over three weeks, “Sorry” has received more than 92 million plays, which will result in Bieber getting a sizable check from YouTube sometime soon. At the end of 2013, Bieber, who came to fame using the video sharing platform, had earned $14.4 million from his popular YouTube channel.
Mario McKellop is a freelance writer who has covered the pop culture beat since 2010.