Bieber Investing in OPMG
posted on
Nov 06, 2012 02:04PM
Edit this title from the Fast Facts Section
How about the Bieber news?
http://www.mobiledia.com/news/165192.html
Bieber and Braun are keeping quiet about many of the social media investments they've made, but Braun says Bieber's portfolio represents between 2 and 5 percent of his net worth, or about $3 million.
And Bieber will likely add to those coffers after this fall's world tour, since he's expected to pocket a cool $80 million.
Some of that money may be going to his next big investment, Options Media Group Holdings, which sells PhoneGuard, an app that keeps teens from texting while driving. In June, he received the option to buy 121 million shares, which represents a 16 percent stake in the company. And given Bieber's huge social media presence and popularity, PhoneGuard may prove a golden investment -- especially since states are passing hands-free phone laws.
"It is tragic that almost on a daily basis there are reports of deaths and severe injuries caused by drivers who are texting and driving," Bieber said in a statement. "We need to change the attitudes in our society towards texting and driving, and I am making it one of my personal goals to make this happen."