Would You Let Justin Bieber Manage Your Money? #Shorts

Justin Bieber makes as much as $80 million a year from his music but the real riches aren’t from the tune he keeps. The 27 year-old star is also a savvy investor. In fact, through investing, he’s been able to grow his net worth to hundreds of millions of dollars. So should you let Justin Bieber manage your money?

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Bieber has booked three world tours over 125 live performances with his first tour in 2010 grossing $53 million. He makes millions on sponsorship deals with Calvin Klein, Proactive and his brand of fragrances but it’s startup investing that has boosted his net worth to over $285 million!

Bieber has been an early investor in more than ten companies including Liquid IV, $1.1 million in Shots Studios, $1.5 million in Tinychat along with P Diddy and Ashton Kutcher and even Spotify. He’s able to invest in these companies early then cash out for millions when the company issues shares of stock. Reports are that Bieber typically invests from $250,000 to a million dollars with as much as 5% of his net worth in startup investments.

All of these have been in music tech and influencer platforms, following Peter Lynch’s advice of ‘Invest in what you Know’. Investing in stocks and companies in which you have a professional or deeper knowledge will help you pick the best investments.

#celebritynews #investing

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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.