Rumor has it that Justin Bieber is going broke after numerous drug scandals and a prominent DUI arrest. New reports suggest that the pop star-turned-bad boy is spending over $1 million dollars a month.
Page Six was among the first to report about Bieber's alleged money woes. According to one source who spoke with the publication, he's spending so much money there's almost nothing left:
"He's blowing through $1 million a month. The guys handling his investments at Mellon Bank complain that there is nothing left for them to invest."
The paper goes on to discuss exactly where the money is going. In addition to an alleged $8,000 a week marijuana habit, the paper points to other absurd spending patterns:
"As for where the money's going, he has a large entourage, some of whom live and travel with him. The pop idol and his posse, including his hard-partying father, just returned from a lavish vacation in Panama."
This isn't the first report we've seen to suggest that the Biebs is having money trouble. This week's OK! also claims that Justin is going broke:
"As if Justin Bieber didn't have enough problems with his recent arrests, a source tells OK! that the 19-year-old bad boy is blowing through all of his money by chartering private jets, going on extravagant shopping sprees and maintaining his entourage."
Of course, these reports don't really add up, when one takes into consideration his net worth. According to popular website Celebrity Net Worth, the bad boy is worth over $10 million:
"To date he has sold over 15 million albums and countless more singles around the world. Every year Justin earns $50-70 million from music sales, merchandise, product endorsements, touring and more."
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