Bieber got his start on YouTube in 2007 when his YouTube channel, where he covered songs, was discovered. Then he was signed to Raymond Braun Media Group which is R&B artist Usherâs record label. He released his first debut album, “My World” just two years later in 2009 which became certified platinum in the U.S. He followed this successful album with “My World 2.0” in 2010. Bieber became the first artist to have seven songs from a debut record on the Billboard Hot 100 chart.
The Rise of Bieberâs Net Worth
Justin Bieber practically lived his teen years and grew into adulthood standing in the limelight. Currently, the pop star earns between $60-80 million per year thanks to album sales, touring, merchandise and product endorsements.
While his 2010 tour âMy Worldâ brought in $44 million and the album itself brought in $6.4 million, his “Believe” tour brought in another $42,7 million and the album earned $7.1 million in 2012.
Bieber received a $3 million endorsement deal with the skincare line Proactiv and the singer also earned $3 million in royalties from his first fragrance, “Someday.” His fragrance line actually broke records as the best selling celebrity fragrance launch in Macyâs history. In more recent years, he became a model and brand ambassador for Calvin Klein.
In terms of investments, Bieberâs financial advisers have been helping him grow his wealth by investing in the Silicon Valley Tech Start-Up scene along with companies like Spotify, Tinychat, Stamped, Sojo Studios and various other companies.
Justin Bieber is also no stranger to giving back. For his 17th and 18th birthdays he encouraged fans to make donations to a clean water campaign. He helped raise $68,805 between the twoÂ years. He also granted 200 wishes through the Make-a-Wish foundation in 2013 as well as participated inÂ several other charity events and fundraisers.
Predictions for Justin Bieberâs Net Worth
Predictions reveal that Justin Bieberâs net worth is expected to exceed $250 million by the end of the year. Itâs clever of his team to help him invest in important stakes in technology companies early on in order to build and sustain his wealth over time.
Like many other celebrities, Bieber has succeeded in creating several different streams of income that all contribute to his high net worth. Several sources recommend that the best way to become a millionaire is to establish many different sources of income; most millionaires have at least seven. Diversifying your income is one of the best ways to become more financial stable and grow your wealth quicker.
In Justin Bieberâs case, he seems to be handling his finances properly and still has many years to continue to build and maintain his wealth.
Photo: Flickr: Adam Sundana