Over the past decade, the net worth of Johnny Depp continued to soar higher and higher. The actor’s net worth, however, has recently taken a turn for the worse.
Just how bad have things gotten for Johnny Depp and his net worth? Keep reading to find out.
The extent of the turmoil Johnny Depp’s financial problems were experiencing came into light this past month when he sued his former financial management team – The Management Group (TMG). The financial management team, however, has filed a counter lawsuit against Depp alleging his excess spending is the true reason his net worth took a nose dive. In the counter lawsuit, the financial management company claims Johnny Depp’s excessive spending amounted to $2 million more than he could afford.
So, What Has Happened To Depp’s Net Worth?
Johnny Depp is an actor who has had a pretty impressive Hollywood career thus far. His career as a successful actor also has no signs of slowing down anytime soon. It wasn’t that far back in history that Johnny Depp had a net worth of roughly $400 million. Thanks to Depp’s flamboyant lifestyle and need overspending, however, he is now on the brink of bankruptcy.
Per PEOPLE, the counter lawsuit filed by TMG does a great job of outlining the reason why Depp is in the financial dismay he is currently in. It is believed that Johnny’s obsession with collectibles and arts got the better of him as they played a large role in him overspending millions of dollars more than he could afford each year.
— eduardo (@dirtmeister) February 2, 2017
Johnny Depp’s lawyers, however, are maintaining that the actor’s overspending is not the reason his net worth has taken a nose dive. The lawyers are arguing the financial company mismanaged his finances and that is ultimately what has resulted in him nearing bankruptcy. A spokesperson from TMG, however, claims they gave Depp a fair warning regarding his overspending on collectibles and art. The financial company claims they even urged Depp to get a prenup as well.
Per International Business Times, Johnny Depp’s overspending included a $30,000 monthly wine budget TMG maintains that they urged Depp to cut back and warned him of his overspending.
Johnny Depp’s lawsuit against TMG is seeking $25 million in compensation for the damages the company caused to his finances for “mismanaging his money.” In the lawsuit, Depp’s lawyers are arguing the financial management company took a rather hefty fee to manage his finances without getting the actor’s consent and then failed to pay taxes in a timely manner. This resulted in Johnny having to pay a fine for the delayed payment.
— Rhonda (@qnoftherealm) February 2, 2017
In the counter allegations, the financial company has also filed a case against Depp regarding a loan they gave to him back in 2012. The financial management company claims Depp has not made any payments back to the company towards the low.
Johnny Depp and TMG had a business relationship of 17 years before the relationship took an ugly turn.
His Previous Net Worth
Per The Richest, it was fairly common knowledge that Johnny Depp had previously had a net worth of $400 million. He earned roughly $35 million in 2012 and another $30 million three years later in 2015. Considering how high Johnny Depp’s net worth once was – it is no surprise that some of his fans are not having much sympathy for the fact that the finances have taken a nose dive and that he may be nearing bankruptcy.
Do you think it is possible that TMG mismanaged his finances or do you think Depp just had a problem with overspending? Share your thoughts with us on Johnny’s financial woes in the comments section found down below.
[Featured Image by Christopher Polk/Getty Images]