Johnny Depp bankruptcy financial distress fires manager

Johnny Depp Fired Long-Time Manager Due To ‘Financial Distress’

Johnny Depp continues making headlines with his luxury lifestyle that reportedly costs him $2 million a month, according to the Daily Mail. The 53-year-old Pirates of the Caribbean star reportedly fired his agent of three decades because he could no longer afford her commission fees.

Johnny Depp’s lifestyle has come under increased scrutiny lately as the actor, who reportedly earned over $250 million for the five films of the Pirates of the Caribbean franchise, is accused by his former management team of leading an extravagant lifestyle which resulted in his “financial distress.”

Johnny Depp reportedly fired his long-term agent Tracey Jacobs back in October as he could no longer afford her services. The actor reportedly left his manager at UTA and signed a contract with CAA only because they offered lower commission fees.

Now Johnny Depp faces a lawsuit with his former business team, The Management Group (TMG), who claim the three-time Academy Awards nominee’s extravagant spending led to his “financial distress.” Depp hired a lawyer, Adam Waldman, who defends the actor and says TMG is “blaming the victim.”

According to the court papers, Johnny Depp spends a whopping $30,000 a month on wine alone, while flying around the world in comfortable and cushy private planes costs him about $200,000 a month.

But Johnny Depp and his lawyer are dismissing the claims, and say TMG are trying to “save their skin” and actually “deflect away from their malfeasance.” The actor is apparently suing his former management team for “fraud and multiple breaches of their fiduciary duty” and other claims, according to Waldman’s statement to People magazine.

Johnny Depp played U.S. President Donald Trump in 2016’s Donald Trump’s The Art of the Deal: The Movie, which was released in February, 2016, back when Trump wasn’t even given the Republican nomination.

Johnny Depp had a disastrous year in 2016. In May, 2016, Depp’s mother passed away, and that’s when the actor’s life spiraled out of control. The same month, Depp and his then-wife Amber Heard announced their divorce, which made headlines over the course of the next few months due to the heated divorce battle.

And now a Hollywood insider claims Johnny Depp has lost a lot of weight lately, according to the Mirror. While the cause of his weight loss remains a mystery, the source says the Black Mass actor is living “a healthier lifestyle.”

While there’s no telling if that “healthier lifestyle” involves spending $2 million a month, the source added that Johnny Depp is doing “really well.”

“He’s trying to shed the weight that he has put on over the last couple of years and he’s getting results.”

As for his ongoing legal battle with his former management team, Johnny Depp is suing TMG for $25 million for mismanaging his earnings. But his ex-managers won’t back down from their accusations against the actor.

TMG claims it had repeatedly warned Johnny Depp against his extravagant spending over the past two decades, but the actor allegedly refused to listen and kept spending $2 million a month. TMG managers handled the Pirates of the Caribbean star’s finances from 1999 to early 2016.

While Johnny Depp is suing TMG for $25 million, his former management firm wants the actor, whose net worth is standing at around $400 million, to pay more over $560,000 in allegedly unpaid commissions and credit card fees.

TMG is also asking the court to acknowledge that it had compiled with “all of its fiduciary obligations under the law” and that Johnny Depp alone was responsible for his financial ruin.

Johnny Depp is attached to at least four new films to be released this year, including Pirates of the Caribbean: Dead Men Tell No Tales, in which the actor will reprise his iconic role of Captain Jack Sparrow. If the films gain success at box office, it would be good news to fix Depp’s alleged “financial distress.”

[Featured Image by Faye Sadou/AP Images]

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