How Johnny Depp managed to squander $2 million a month
Johnny Depp’s former manager claimed the Hollywood actor spent $2 million a month before losing his lifetime earnings of hundreds of millions of dollars.
From being Hollywood’s highest-paid actor, Depp is currently in a rough state having to face money problems.
Depp previously blamed his former manager, Joel Mandel of The Management Group, for the loss of his hard-earned money from all the blockbuster films he has been part of during his 35 years in the acting industry.
Although, Mandel suggested that the $650 million he earned in the last 13 years has been squandered by Depp due to his very lavish lifestyle.
Suing TMG, Depp accused the company of mismanaging his finances over the years. As for TMG, they are countersuing and blamed the actor’s luxurious lifestyle for his money woes. More details about TMG’s side of the story on our Twitter page. Follow us at AmoMama USA.
They claimed that Depp’s way of living cost more than $2 million a month. TMG suggested that they had warned Depp with regards to his spending, but he supposedly ignored them.
As declared by Mandel in his lawsuit in 2017, he said, “Depp, and Depp alone is fully responsible for any financial turmoil he finds himself in today. He has refused to live within his means.”
In a new and exclusive interview with Rolling Stone, Depp’s precise monthly expenses have been laid out in the publication.
A major chunk of Depp’s money went to the maintenance of his several properties. According to the court documents by Mandel, Depp spent around $75 million just to maintain his 14 residences.
His properties include a chateau in the South of France, a chain of islands in the Bahamas, some homes in Hollywood, multiple penthouses in downtown Los Angeles, as well as a horse farm in Kentucky.
Also, a great deal of Depp’s money supposedly goes to his guitars. Throughout his music career, he has allegedly collected a total of 70 guitars.
Johnny Depp is broke? https://t.co/c7BtItDaMl— Jay Sanchez (@jaysanchez) June 22, 2018
Apart from music, the actor also likes to collect art pieces. Mandel suggested Depp has a 200-piece art collection. He also has a knack for collecting Hollywood memorabilia – mostly related to Marlon Brando and Marilyn Monroe – worth millions of dollars, which was why he needed 12 storage facilities to store them.
Included in the court documents filed by Mandel were claims that Depp had spent a total of $2.7 million on private jets.
Not only that, he also alleged Depp of hiring a sound engineer who spent years feeding him lines during film production. In his interview with Rolling Stone, Depp did not confirm the allegations but admitted that he had sounds fed to him like a crying baby or exploding bombs to help him act with his eyes.
Just like most celebrities, Depp is fond of his luxurious vehicles. Although, through his career, he has owned about 45 of them, which costs millions and millions of dollars.
Depp also paid for his basic yet still extravagant needs. He has paid over a million dollars each year for his on-call doctor, he has spent an annual fee of $1.8 million for 24/7 security, and he also paid around $3 million each year for his staff consisting of 40 people.
Aside from the above-mentioned expenses, Depp also paid for late fees. He claimed in his lawsuit that his representatives failed to pay his taxes on time, which resulted in over $7 million worth of late fees to the IRS.
Depp has been hoping to gain back some of the money he had lost over the years.