Is Johnny Depp broke? To read the headlines one would think so, but no, Depp’s net worth is $200 million. Admittedly that figure is down considerably from 2015 when Johnny had a net worth of $400 million according to The Heavy.
Why Johnny Depp’s fortune has reduced by half over the past two years, after remaining at $400 million for many years is certainly up for conjecture. The actor’s financial managers TMG have revealed their side of the story and it’s been all over the news for months. But their story was reportedly ruled inadmissible in court. One must wonder how much of what was released was factual.
Johnny Depp’s finances have been aired with a significantly negative slant. The same information is regurgitated over and over, with no evidence other than the word of The Management Group, a company being sued by Depp for fraud and negligence.
Johnny Depp’s attorneys wrote a statement for the lawsuit, which was quoted in Deadline.
“As a result of years of gross mismanagement and sometimes outright fraud, Mr. Depp lost tens of millions of dollars and has been forced to dispose of significant assets to pay for TMG’s self-dealing and gross misconduct.”
Johnny Depp alleges The Management Group made loans without his knowledge and accumulated $40 million in loans without his consent or knowledge. The Jack Sparrow actor reportedly had to pay his own property taxes as well as the fines incurred because The Management Group failed to pay them.
There is little in the way of a credible explanation from The Management Group for what happened to $200 million dollars, only the bizarre inference Johnny Depp did something wrong when he allegedly spent or gave away his own money.
Many of Johnny Depp’s expenses, as listed by TMG require more clarification.
Some expenses, like Johnny’s yacht expenses, are not recent issues. The Yacht expenses ended long before Depp’s net worth dropped. That Yacht has been sold for many years, and apparently, the money disappeared in the past two or three years.
Johnny Depp has reportedly made $650 million over the course of his long and prolific career, but he’s also engaged in investing. That is a word strangely missing from The Management Group’s revelations. Nor has TMG revealed anything about Johnn’s movie production company Infinitum Nihil.
TMG did say that Johnny Depp had 40 full-time employees and paid $300,000 per month on salaries. It is unclear if these are the employees of Infinitum Nihil film company, but if they are, their salaries make perfect sense.
Also, if Johnny Depp’s expenses as listed by TMG include the payroll and expenses incurred by Infinitum Nihil, a business owned by Depp, then the extravagance isn’t extravagance at all, but a legitimate business expense, as is the cost of flying in a private jet, and hiring body guards, like all celebrities on Johnny’s level.
Are Johnny Depp’s business expenses being counted as personal expenses by his own financial management company? Why does TMG seem unaware Johnny even owns a film production company?
Why is it shocking that Johnny Depp flies in a private jet when it was just accepted when Brad Pitt and Angelina Jolie took private jets routinely? Depp and Pitt have similar fortunes, similar lifestyles, do the same job at similar levels, and they both own movie companies.
Johnny Depp is not broke, with a $200 million net worth, according to most sources, but he may have experienced cash flow problems related to business losses and other work related expenses, as well as losses related to TMG’s management.
Net worth is anything of value one owns, minus any debts. A mortgage is not counted as a debt, however. Equity is an asset, and the amount of mortgage still owed isn’t counted at all.
Johnny Depp owned 14 homes, until recently. It is unknown how many of those have mortgages. TMG however reportedly took out a $40 million loan and allegedly cost Mr. Depp “tens of millions” due to their mismanagement of his money according to the statement above.
The loan amounts would be subtracted from Johnny’s net worth, and the tax penalties from unpaid property taxes would be a loss.
While Johnny Depp may have spent some of his own money, invested in his own business Infinitum Nihil, bought art and real estate, as investments, and had business expenditures for security and travel, Johnny Depp is not Broke. It is hard to imagine that spending would account for a $200 million deficit, considering his income.
Whatever Johnny spent on real estate and fine art would be counted as assets. Infinitum Nihil has an appraised value as well, and all that counts toward net worth.
It is possible to lose millions of dollars on films that don’t perform at the box office, and that has happened a few times in Johnny Depp’s career. The Rum Diary, for example, had a budget of $45 million and grossed only $22 million according to IMDb.
RELATED REPORTS FROM THE INQUISITR
Johnny Depp is not broke, but he does seem half of his fortune has disappeared over the last two years.
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