Johnny Depp is no doubt one of the most iconic actors in Hollywood, with the Pirates of the Caribbean franchise taking his career to dizzying heights, and making him one of the highest paid celebrities in the world. Speaking of being the highest paid, he has earned a whopping $650 million over the years. However, when his financial woes started making headlines last year, details about his opulent spending revealed massive property acquisitions that included a chain of Caribbean islands, and a Pirates of the Caribbean village-themed estate close to Saint-Tropez, France.
This is not to mention multiple complexes in Hollywood and approximately 45 luxury cars. This emerged following a lawsuit he had filed against TMG, a company that carried out financial management services for him. The managers apparently misappropriated about $40 million. This was as reported by USA Today.
At the time of the lawsuit, his financial status was so bad that he had to put up a property in Plan De La Tour, France, for sale in order to stay solvent. The suggestion to sell the estate was a wake-up call that his finances were in really bad shape. According to a report by TMZ, who spoke to TMG’s legal representative, Johnny Depp made false accusations against the company, claiming they took a $40 million loan without his knowledge.
According to them, the loan was taken with his full approval, and he signed all documents related to it. He, however, spent all of it in his typical extravagant ways. Going by court documents filed by the Pirates of the Caribbean actor, the company’s negligence and misappropriation cost him millions. He highlighted some alleged shady deals carried out without his approval.
For example, in 2006, it took out numerous loans on his behalf, one of which was about $22 million. He also claimed it paid his neighbor about $3,000 each month as compensation over a property dispute without ever informing him about the existing arrangement. The company also apparently forgot to halt payments to a leased property, which ended up costing him about $350,000.
The trial, which is set for August 15 next year, according to the Chicago Tribune, is set to reveal how Johnny Depp was able to blow hundreds of millions of dollars over the years to the point of selling some of his most prized possessions. They include famous artworks and properties.