Hollywood Spender: How Johnny Depp went bankrupt
'14.07.2017'
Source: Vanity Fair
The famous Hollywood actor Johnny Depp has always liked to live in a big way, not counting money. But now he will have to reconsider his habits and desires, since recently he is practically bankrupt.
For many years, Depp was among the highest paid (according to 20 million dollars per film) Hollywood actors, but somehow he stepped into a financial hole, writes Vanity Fair.
The fact that the star went bankrupt was influenced by various factors. We will try to understand the financial history of the famous spenders.
Johnny Depp accuses his former business managers Joel and Robert Mandels of fraud, while their counterclaim quotes his maniacal expenses: private islands, a French castle, a 48-meter yacht and much more.
In the financial turmoil, the actor turned to court auditors for help, as well as to celebrity lawyer Adam Waldman, whose clients include Angelina Jolie and Cher. Depp was shocked that his cash millions had disappeared somewhere and large assets had to be sold. White accountants claim to have discovered anomalies in the handling of Depp's finances by his former business managers Robert and Joel Mandels and their firm - Management group (TMG).
It turned out that almost 10 million dollars left Depp to pay income tax and to third parties, including his sister, relatives or people who worked with him. And this is without the knowledge of the actor himself and his permission. There were other violations, noted Waldman. But all the accusations Mandels denied, calling them fabricated.
During the 17 years that Depp worked with the Mandels brothers, he earned 650 million dollars, the auditors considered. 5% of this amount went to pay for services Management group (TMG), another 5% to the star's lawyer Jake Bloom. In total, Depp spent about $ 65 million on them.
After a thorough review of financial history, Depp’s 13 side filed a lawsuit in January, demanding that former business managers refund 25 million dollars for negligence, fraud, and so on. But representatives of the company filed a retaliatory claim in which they stated that Depp had been warned more than once and asked not to be so wasteful.
What does Johnny Depp spend money on?
- The maintenance of 14 private houses, including the castle in France and the islands in the Bahamas.
- For the purchase and maintenance of 48-meter yacht (was sold in 2013 year to repay the loan debt).
- The content of 14 repositories in Los Angeles, which are filled with collectible items (paintings, guitars).
- 300 thousand dollars a month is spent on the maintenance of full-time employees.
- 24-hour security for Depp, his children, and family members costs 150 thousands of dollars per month.
- 30 thousand dollars a month for elite alcohol.
- $ 5 million went to a memorial service for the late gonzo journalist, author of the novels Fear and Loathing in Las Vegas, The Rum Diary by Hunter S. Thompson. He was Depp's idol.
- Divorce from Amber Heard cost 7 million dollars.
Depp's former business managers have argued that it is his own fault that he went bankrupt. His exorbitant spending and "selfish, reckless and irresponsible lifestyle" led to this.
