Pirates of the Caribbean star Johnny Depp and his former business managers at The Management Group (TMG) have been embroiled in litigation over whether or not the company mismanaged his earnings over the years. Depp claims that they owe him more than $25 million, while they claim that it was Depp’s extravagant spending that caused all of his financial hardship.
If you never thought you’d see the words “Depp” and “financial hardship” in the same sentence, you’re not alone. However, according to The Weekly Standard, it’s easy to see how those two things managed to converge…
The star’s extraordinary spending was said to include over $75 million on 14 homes, including a 45-acre chateau in the South of France, islands in the Bahamas, houses in Hollywood and Los Angeles and a Kentucky horse farm.
He spent $18 million buying and renovating a yacht, says the suit; $3 million to blast the ashes of writer Hunter S Thompson out of a custom-made cannon; $200,000 on private planes and $4 million on a failed record label.
He paid out tens of millions on “a massive and extremely expensive art collection” including works by Warhol, Basquiat and Modigliani, and “world class jewellery” as well as 70 collectible guitars.
TMG also explained…
“Depp lived an ultra-extravagant lifestyle that often knowingly cost Depp in excess of $2 million per month to maintain, which he simply could not afford,” lawyer Michael Kump wrote in the cross-complaint. “Depp, and Depp alone, is fully responsible for any financial turmoil he finds himself in today.”
