More like Johnny DEBT, Amirite?
It’s important to set this story up right, so let me set the tone by getting a little “mood” music ready.
Earlier this month, Johnny Depp sued his former business team at The Management Group (TMG) for $25 million in a fraud lawsuit. Then on Tuesday, TMG filed a cross-complaint, claiming the actor 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.”
In Depp’s lawsuit, his lawyers claim, “As a result of years of gross mismanagement and sometimes outright fraud, Mr. Depp lost tens of millions of dollars and has been forced to dispose of significant assets to pay for TMG’s self-dealing and gross misconduct.”
In TMG’s cross-complaint, the management firm asks Depp to pay up for more than $560,000 in allegedly unpaid commissions and credit card fees. Furthermore, TMG is asking for a court declaration saying that it “complied with all of its fiduciary obligations under the law and that Depp is responsible for his own financial waste.” TMG also alleges that Depp still owes them $4.2 million, and has since filed a non-judicial foreclosure proceeding on one of Depp’s homes to recoup that debt.
According to the court papers, Depp’s former managers claim they repeatedly warned Depp of his wasteful spending and even encouraged him to get a pre-nup before marrying Amber Heard. His refusal to do so ended up costing Depp a $7 million settlement. TMG alleges that, “Depp, and Depp alone, is fully responsible for any financial turmoil he finds himself in today,” and, “has refused to live within his means, despite the best efforts of TMG and the repeated warnings about his financial condition.”
Hold onto your butts, because here is what the court papers also revealed:
The complaint claims Depp spent:
- Over $75 million on 14 residences, including a 45-acre chateau in the South of France, a chain of islands in the Bahamas, multiple houses in Hollywood, several penthouse lofts in downtown Los Angeles and a horse farm in Kentucky.
- $18 million to “acquire and renovate a 150 foot luxury yacht.”
- Millions more buying and maintaining 45 luxury vehicles.
- $300,000 per month on expensive wines flown from all over the world.
- $3 million to blast the ashes of Hunter S. Thompson out of a custom-made cannon in Aspen, Colorado.
- Tens of millions on “a massive and extremely expensive art collection,” including “world class jewelry,” about 70 collectible guitars, and over 200 works by artists such as Warhol, Klimt, Basquiat, and Modigliani.
- Millions on collectibles and memorabilia involving icons such as Marilyn Monroe, John Dillinger and Marlon Brando. The collection is so extensive it fills “12 storage facilities” and cost over $1 million just to archive.
- $300,000 per month on 40 full-time employees.
- $150,000 per month on full-time security guards that protect - him and his family “24/7, 365 days a year” wherever they go.
- $200,000 per month on private planes.
- $10 million over the years on supporting various friends and family, including $4 million invested into a failed music label run by a friend.
Obviously I have highlighted my most favorite part and ask that this is how my body is disposed of when I die.
Depp’s personal attorney, Adam Waldman, issued this response to the countersuit:
How cataloguing alleged spending by Mr. Depp of his own money could somehow absolve the defendants of their large and multi-faceted mosaic of wrongdoing will ultimately be determined by the Court.
Ok, but tell me more about this cannon thing.