How In The Hell Did Johnny Depp Blow Through $650 Million?
Johnny Depp is in the middle of a $25 million legal battle with his former financial advising group but before it came to that, the Hollywood star somehow blew through the $650 million he earned during the 13-year span they represented him.
After realizing that his financial crisis was becoming a reality in 2016, Depp fired The Management Group and filed the lawsuit accusing them of fraud, mismanagement and negligence.
It didn’t take long for his former financial managers to launch a countersuit. The Management Group claims they did everything within their power to keep Depp from falling into financial ruin, but it was his own “ultra-extravagant lifestyle” that led him to lose it all. (RELATED: Johnny Depp’s ‘Clear And Epic’ Sense Of Entitlement Has Earned Himself A Sideshow At Disneyland)
Many of Depp’s outrageous expenses have been detailed in a piece published by The Hollywood Reporter on Wednesday — and although there are many millions unaccounted for, it’s easy to see how the “Pirates of the Caribbean” star wasted it all away.
At one time, Depp was the proud owner of 14 properties around the world, including an island in the Bahamas, a chateaux in the South of France, five houses in the Hollywood Hills and another five lofts in downtown Los Angeles. All in all, the 14 properties alone — not including costs of general upkeep — are worth an estimated $50-60 million, according to THR.
Depp also had a 156-foot yacht, which could be considered another property in its own right. He original bought the luxurious vessel for $10 million, spent an additional $8 million on renovations and shelled out $350,000 a month to maintain it. When The Management Group began cautioning Depp about his spending, his yacht was the first thing he let go.
The 53-year-old actor also required a 40-person staff that cost him $3.6 million a year, spent $30,000 a month on wine alone, an undetermined amount on his “army of attorneys” to get him out of various legal troubles, and various loans like the one he made to his sister Christi Dembrowski for $7 million.
Depp also once bought a home for his former partner Vanessa Paradis for $4.5 million, owns more than 200 artworks, 45 luxury vehicles and a collection of around 70 guitars.
According to Depp’s former accountant at The Management Group, Depp earned $650 million while under their representation. The Hollywood Reported noted that it’s unclear if Depp understood that his blockbuster paychecks weren’t entirely his to spend, but he clearly didn’t hold back by any means.
Depp’s current lawyer, who he hired in October to handle the ongoing case, insists that his client wasn’t properly advised and was so focused on his artistry that he didn’t pay attention to his finances.
In any case, the hundreds of millions of dollars are now gone and we won’t find out where they went until the case goes to trial in January and more information on Depp’s financial disaster is exposed.