Playing the role of mentor and big bro might’ve just laced Usher’s pockets in a huge way.
The R&B superstar’s shares in RBMG, the music label responsible for signing Justin Bieber in 2008, were just acquired by HarbourView for an estimated $40 million, Billboard reports. At this time, the company says it is “focused on niche markets and esoteric investment opportunities in the media and entertainment space.”
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One may be wondering why Usher would have the rights to Bieber’s catalog in the first place.
So, let’s break down a timeline of their relationship.
Prior to signing his first record deal at the age of 14, Bieber was taken under the wing of Usher, who became his mentor very early on in his career.
Thanks to the “My Way” crooner, Bieber was able to connect with L.A. Reid and sign to Island Records in October 2008. In less than a year, the young superstar landed several hits on the Billboard Hot 100. His breakout song “Baby” even made it on the renowned countdown music talk show “106 & Park.”
Usher's Net Worth
Usher is sitting on an estimated net worth of $180 million, AfroTech previously reported.
As one of the best-selling artists of all time, Usher has sold more than 75 million records globally. Not only that, he and Bieber’s manager, Scooter Braun, are the co-founders of the aforementioned record company RBMG Records.
Justin Bieber's Net Worth
A Full Circle Moment
As an artist discovered via YouTube in 2007, Bieber was no stranger to covering other artists prior to his big break. In fact, a lot of the music he covered happened to be music by Usher — talk about a full circle moment.