Is Justin Bieber really down to his last dollar? The short answer: absolutely not. 

Earlier this week, the internet went into a frenzy after The Hollywood Reporter dropped a report claiming that the “Peaches” singer was in financial distress, citing everything from luxury real estate splurges to pricey vacays. 

THR's insider also reported that the hitmaker owes his longtime manager, Scooter Braun, after abruptly canceling his Justice World Tour in 2022. Allegedly, the tour’s promoter paid Bieber $40 million in advance, while Braun’s company fronted an additional $20 million. Just a year later, Bieber sold his entire music catalog for a staggering $200 million.

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However, Bieber's team was quick to shut that narrative down, "Any source that is trying to sell you a story abut alleged financial distress...either doesn't understand the entertainment industry or, more likely, is trying to paint an unflattering portrait of Justin, which bears no resemblances to reality." 

Meanwhile, another anonymous source reached out to PEOPLE to address THR's report surrounding the debt. 

"This is just clickbait stupidity based on unnamed – and clearly ill – informed – 'sources,' disappointed that they no longer work with Justin," read the statement. "As Justin forges his own way forward, these unnecessary stories and inaccurate assumptions will continue. But, they won't deter him from staying comitted to following the rigt path." 

This news comes shortly after, Bieber removed himself from his clothing line Drew House and introduced his new brand, Skylrk. 

Earlier this month (April 3), Bieber dropped a animated promo on Instagram, where cartoon Justin literally sets the Drew House logo on fire, smooches his wife Hailey Bieber, and strolls off into his Skylrk future with baby in a stroller. 

Fans are still worried about Bieber and for good reason. Not only did he cut ties with Drew House, the streetwear brand he co-founded and once poured his heart into. In a blunt Instagram Story, he told fans the brand "doesn't represent me or family or life" anymore and even urged them not to support it if they're truly "rocking with him." It was a jarring move, especially since he's been quietly hyping his new fashion venture,Skylrk, for weeks.

From animated teaser videos to cryptic posts, Bieber seems to be in the middle of a major personal and professional shift, and Beliebers don't know how to feel. 

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Bieber hasn't been keeping a low profile amid the recent drama. In fact, Beliebers are buzzing after he popped up at Sexyy Red’s 27th birthday bash at The Players Club in L.A. and was caught planting a kiss on her cheek. 

Wearing a white fur coat like he walked out of a ‘70s pimp fantasy, Justin looked more alive than he has in months. Fans took several notes.

“Justin so happy to be outside around normal people,” one person commented. “He looks happier with Sexyy Red than he does with Hailey,” another fan wrote. 

Fandom Daily is keeping a close eye on Bieber and will deliver timely updates as the story unfolds.