Johnny Depp is finally defending his right to spend his own money as he sees fit. This is in response to strange allegations from Johnny’s financial management company The Management Group, who allege that Depp is spending his own money, which they seem to think is shameful.
The Management Group began releasing Johnny Depp’s private financial information to the press since the actor told them he would sue them. They told how much the Jack Sparrow actor spends on wine, and that he spends about $2 million a month in total.
The Management Group revealed a lot of things about Johnny Depp they thought sounded silly. They intended to cause bad press for their disgruntled former client, but logically it is even worse press for their company. Who would want to hire a financial manager who would leak a client’s private spending habits to the press?
Johnny is suing The Management Group for $25 million, alleging fraud, negligence, and breach of fiduciary duty that allegedly cost Depp tens of millions, according to the Los Angeles Times.
Johnny Depp confided to the Wall Street Journal, it was his money and he’d do with it as he pleased.
“It’s my money. If I want to buy 15,000 cotton balls a day, it’s my thing.”
A spokesman for Johnny Depp has agreed. His statement is quoted in the Evening Standard.
“How cataloging alleged spending by Mr. Depp of his own money could somehow absolve the defendants of a large and multi-faceted mosaic of wrongdoing will ultimately be determined by the court.”
Johnny Depp also admitted that he had actually spent $5 million on the cannon that dispersed Hunter S. Thompson’s ashes. The Management Group had previously stated that he spent only $3 million and Depp wanted to set the record straight.
Hunter S. Thompson was very important to Johnny Depp as a friend and mentor. Depp greatly admired the famous gonzo reporter. Why doesn’t he have every right to spend as much as he wants on his friends rather unorthodox funeral? It was what Hunter S. Thompson wanted.
Johnny Depp points out that there is a huge difference between spending one’s own money and having a financial management company that allegedly wastes their client’s money by neglecting loan and tax payments that incur penalties.
Johnny Depp’s $25 million lawsuits against The Management Group spurred a counter suit and what could be called a smear campaign, but what exactly did this treasure hoarding pirate of an actor do wrong?
The Management Group is on pretty shaky ground in attempting to publicly humiliate a celebrity client like Johnny Depp, even though he is now a former client, it hardly seems wise or reputable. Still, The Management Group spokesman David Shane commented again on Johnny’s personal choices again just last Tuesday, according to the Los Angeles Times.
“[Johnny Depp] is a habitual liar who denies responsibility for his own outrageous conduct, [and] has himself to blame for his financial woes.”
Johnny Depp logically cannot have a negative net worth, as The Management Group keeps inferring. The worst of it could be some sort of temporary cash flow problem.
Johnny Depp owns 14 multi-million dollar homes, vaults full of expensive wine, and a huge and very valuable art collection. He’s also working and has acted in nine movies this year. Logically, Jack Sparrow is far from broke, by those facts alone.
However, even if Johnny Depp spent every dime he has ever made on things that were completely worthless, which is obviously not the case, wouldn’t it be his right to do so? Would he not still have a right to take action against other people who mismanaged his money? After all, it is his money and not theirs.
Johnny Depp’s net worth was reportedly $400 million until quite recently and his income for 2016 is $48 million, according to Forbes.
Johnny Depp has made investments in real property rather than holding on to his bank account balance or buying stocks. It could be a great way to hedge against inflation. The art will hold value and increase over the long term, as will most of his real estate investments. The wine purchases should grow far more significantly in value than interest rates or stock dividends.
RELATED REPORTS FROM THE INQUISITR
Johnny Depp can buy all the cotton balls a man could ever want if that is what he wants to do though, and how can anyone say anything different?
[Featured Image by Christopher Polk/Getty Images]