Besides being one of the most famous actors in Hollywood, Johnny Depp is also known for his love of art. He has also been accused of squandering his wealth. He has been sued for damages by his former business managers, as well as by his ex-wife.
Squandering of his Fortune
Having an ultra-extravagant lifestyle has cost Johnny Depp tens of millions of dollars. He has spent millions of dollars on private planes, expensive wine, and luxury items. He has bought a private island in the Bahamas, a chateau in the South of France, and a horse farm in Kentucky.
In January 2017, Johnny Depp sued his former managers, Joel and Rob Mandel, of The Management Group (TMG) for $25 million. The lawsuit alleges that Depp spent two million dollars a month on his lavish lifestyle, while he was unable to pay his bills. In court, the actor and his attorneys claimed that his money managers were stealing from him. He also claimed that he was mishandling his money and had lost significant assets.
Breach of Contract
TMG countersued Depp for promissory fraud and for breach of contract. According to the countersuit, Depp spent hundreds of thousands of dollars on expensive art and memorabilia. In addition, TMG claims that Depp spent $5 million to shoot Hunter S. Thompson’s ashes from a cannon. It also accuses Depp of paying $3 million a year to maintain 40 staff members.
Lawsuit Against Former Business Managers
During a mediation session, Johnny Depp and the Management Company reached an amicable settlement. The two sides agreed to a settlement that was expected to be worth at least $25 million.
The parties had been threatening a trial over the fraud claims. The trial was set to begin in August in Los Angeles. However, the trial was delayed due to Johnny Depp’s $2 million-a-month lifestyle.
The Management Group was responsible for handling the finances of Johnny Depp for 17 years. It is run by Joel and Robert Mandell, who claim Depp had an expensive lifestyle and overspent. They also claim he ignored warnings to curb spending.
Luxury Items & Private Jets
The Management Group alleged that he spent millions on luxury items and private jets, and documented millions in expenses on wine, art, and household staff. But some people wonder if the details are accurate.
Depp’s lawyers did not respond to a Deadline request for comment. They did say that the terms of the settlement are confidential.
During his prime, Johnny Depp’s net worth was estimated at a whopping $900 million. The actor spent millions of dollars on a flamboyant lifestyle. He purchased a private yacht, several homes in the Bahamas and a posh property portfolio.
Impressive Collection of Artwork
Johnny Depp is not just an actor – he’s also an artist. He has an impressive collection of artwork, including portraits of celebrities such as Keith Richards and Bob Dylan. His paintings sold for a total of 3.6 million US dollars when they were auctioned.
Johnny Depp has had a number of successful films, including Edward Scissorhands, Alice in Wonderland, and Donnie Brasco. He has been the subject of numerous media reports, and he has become a household name. In 2012, Depp was the highest-paid actor in the world. He earned a total of $15 million from a film project called The Rum Diary.
Most Prominent Roles
One of his most prominent roles was as Captain Jack Sparrow in the Pirates of the Caribbean franchise. The franchise has grossed more than $4 billion worldwide. He has starred in five installments.
Lawsuit Against Ex-Wife
Earlier this year, Johnny Depp filed a lawsuit against his ex-wife Amber Heard for $50 million in compensatory and punitive damages for an op-ed she wrote in The Washington Post two years ago. In the piece, Heard accused Depp of physical abuse and referred to herself as a public figure representing domestic violence. The lawsuit is a way for Depp to recover his reputation, which he says was destroyed by the op-ed.
Heard’s lawyers said the lawsuit is part of an ongoing smear campaign. But it is unclear whether Heard’s attorneys plan to appeal the verdict.
The libel case started more than a week ago and will likely last for six weeks. It has turned into a contentious battle between the two parties. During the hearing, Depp accused Heard of innumerable acts of domestic violence. He said Heard would pick fights with him and escalate them. He also said he had a nervous breakdown and damaged his home.