It seems Johnny Depp’s situation has gone from bad to worse since 2017 has kicked off. After going through a dramatic and very public divorce from his ex-wife, actress Amber Heard, and having been accused of domestic abuse by the Magic Mike star, Depp then found himself being named the most overpaid actor in Hollywood by Forbes.
However, no matter how overpaid the Black Mass star may be, he is reportedly experiencing some serious financial issues these days, and the $7 million he was forced to fork over to Heard likely stung the star a bit. To start the year off, Depp also launched a lawsuit against his former financial management group, pointing the finger at the company for mismanaging his finances. However, as Business Day notes, it’s fair to say from details that have since surfaced following the discovery of filed retaliation by The Management Company, that Depp did have a thing or two to do with his current financial state.
“Mr. Depp has appeared in some of the highest-grossing (“Pirates of the Caribbean”) and weirdest (“Yoga Hosers”) films of the past 30 years, earning him an estimated $650 million. Being a rich movie star, however, does not necessarily bring great financial savvy. Over the past decade, Mr. Depp has paid more than $5.6 million in interest on overdue taxes, has lent millions of dollars to people unlikely to pay him back and has unwisely splurchased a number of questionable investments, not the least of which is that town near St.-Tropez.”
The retaliation is what allowed for Johnny’s spending habits to be made known to the masses and has also raised speculation about other moves the star has made over the past few months, such as selling a number of his investment properties, and having fired his long-term manager Tracey Jacobs because he could no longer afford the cost to keep her. Depp reportedly hired a new manager at a cheaper cost in October of last year. Eyewitness News shares details about these claims regarding Johnny’s decision to change management.
“The 53-year-old Hollywood star is believed to have got rid of UTA’s Tracey Jacobs last October as signing a new deal with rival agency CAA meant he would be paying lower commissions.A source told The New York Post’s Page Six column: ‘Depp told Jacobs and UTA he no longer wanted to pay their commissions. But they pushed back.’On their lower prices, another insider said: ‘They don’t do blue-light specials.’However, CAA were “sensitive” to Johnny’s financial situation when he signed with them.”
A source close to the Pirates of the Caribbean star did speak out about the situation and shut down this claim, stating that Depp simply changed management because a change was due. The insider shared that the actor really just wanted to make the switch for a fresh start.
Johnny Depp is ‘so broke he has fired his long time manager and struck a deal with a rival agency’ https://t.co/pqnS7VQ7Mf
— Larry (@ljyoung28) February 7, 2017
“He was with Tracey Jacobs for a gajillion years — their relationship had run its course. He was looking for a change.”
— Fortune (@FortuneMagazine) February 6, 2017
As for the lawsuit that Johnny filed against TMC, he has now been counter-sued by the company who claim that Depp was always made fully aware that his spending habits would result in financial ruin and that he was spending his fortune at a faster rate than “he could afford.” The publication notes the details included in the court filings by the company’s legal team regarding Johnny Depp’s spending. Essentially, the company puts full blame on the star.
“Depp often responded by rebuking and cursing his business managers for issuing such warnings and advice, while increasing his extravagant lifestyle and spending, and demanding that his business managers find some way to pay for it all.”
[Featured Image by Christopher Polk/Getty Images for People’s Choice Awards]