“He refused to take measures to get his finances under control”: Johnny Depp Accused Management of Mishandling Finances Despite Spending $30000 for Wine Every Month
Johnny Depp is one of the richest celebrities in the entertainment industry and is pretty popular for his wild celebrity lifestyle. The actor has never compromised on living a luxurious life which is all credited to his successful acting and music career. While he hit the rock bottom for a while due to his ex-wife, Amber Heard’s claims, he is getting ready for his comeback in the industry.
Though he won the defamation lawsuit filed against his ex-wife for her claims, their long feud unveiled many secrets of his personal life including his extravagant expenses. Despite his heavy expenses, the actor filed a lawsuit in 2017 against his management agency for mismanagement of his financial interests.
Johnny Depp Sued His Ex-Managers for Mishandling His Finances
The 59 years old actor, Johnny Depp in early 2017 filed a lawsuit against The Management Group (TMG), run by Joel Mandel and his brother, Robert Mandel claiming that they mishandled his finances while they were managing his finances between 1999 and 2016. He demanded $25 million as damages stating they “spent millions of dollars without his permission.”
The lawsuit alleged that they had failed to file the former’s tax returns on time which ended up leaving him $5.7 million in penalties. Not just that, TMG overpaid for several services and made unauthorized loans.
The company in return countersued him stating that the Pirates of the Caribbean actor was to be blamed for his habits as his expenditures were “increasingly irresponsible.” This led to major drama as his financial history was soon brought to the public with the parties resolving the lawsuit outside of court.
Johnny Depp’s Lavish Lifestyle Came to The Public
Due to his lawsuit against the company, his financial history shocked the world as he had some extravagant expenses which were “irresponsible” as per his ex-managers. As per the managers, he purchased a $5 million cannon to shoot his friend Hunter Thompson’s ashes at his funeral.
His “luxurious and extravagant lifestyle” included $18 million on a 150-foot yacht, $75 million on 14 homes, $200,000 every month on private jets, $100,000 every month on an addiction specialist, $30,000 a month on wine, $300,000 a month maintaining 40 staff and $4 million on a failed record label.
The managers even confronted the actor regarding his expenses however he allegedly ended up “rebuking and cursing his business managers for issuing such warnings and advice” and continued to increase his spending rather than acknowledging the same. Despite those warnings, he never took appropriate measures to lessen the burden. However, he eventually let go of a few of his expensive properties to clear his rising debt.
Source: The Guardian; The Things
