"Scooter Braun and SB Projects are no longer involved in Justin Bieber's current business or management and will not be involved in the future. Justin is excited about the projects he's currently working on and is focused on what lies ahead.
Justin Bieber has ceased working with his business manager, Lou Taylor, and has hired Johnny Depp's chief financial officer, confirmed by PEOPLE.
"They parted ways a few weeks ago in May," a source told about Bieber and Taylor. "It was a mutual and smooth transition. It was no longer a fit."
At 30 years old, Bieber has linked his companies—Bieber Time Touring LLC, Justin Bieber Brands LLC, and Bieber Time Merchandise—with Taylor's firm, Tri Star Sports And Entertainment Group, in 2022.
Bieber's longtime manager, Scooter Braun, is still managing the musician, according to the source. "[Bieber] is still under contract and will not be leaving any time soon," they say. However, several sources have told PEOPLE that Braun, 42, and Bieber have not worked together for months.
Braun's representatives have not immediately responded to PEOPLE's request for comments.
At the Black Music Action Coalition's Music Maker dinner, in association with ASCAP, which took place at Delilah on January 31, 2024, in West Hollywood, California, Lou Taylor was present.
Bieber has now hired Depp's business manager, Edward White, who founded Edward White & Co. in 1976.
The California-based firm, which recently merged with Eide Bailly, provides tax and consulting services and counts among its clients several Hollywood figures, including Jack Nicholson and Allen Paulson, as well as the estates of Lena Horne and Vin Scully.
"[Taylor] supported them in the transition to Edward White," the source told PEOPLE.
White has been working with Depp, 61, since 2016. In 2022, he testified in Depp's defamation trial against his ex-wife Amber Heard.
Before the Depp vs. Heard trial, White helped the actor with his finances in 2017 and assisted him in a lawsuit against The Management Group for mishandling his finances.
Johnny Depp attended the British premiere of "Jeanne du Barry" at Curzon Mayfair on April 15, 2024, in London, England.
Bieber's latest move comes after he sold his catalog of 291 songs to Hipgnosis Songs Capital in 2023. Billboard valued the deal at just over $200 million.
This move meant he was selling the rights to every song he had released or was interested in until the end of 2021, including his six studio albums—My World 2.0, Under the Mistletoe, Believe, Purpose, Changes, and Justice—and other projects such as My World and Journals, as well as hit singles "Baby," "Boyfriend," "What Do You Mean?" "Sorry," "Love Yourself," "Yummy," "Holy," and "Peaches," among others.
Hipgnosis now holds a 100% stake in the profits made from Bieber's writing and recording credits as well as in "neighboring rights," otherwise known as money generated from any public broadcast of the song in stores, restaurants, etc.
However, his recorded masters will continue to belong to Universal Music Group in perpetuity.
