For the overwhelming majority of people, most would struggle to know how to spend $2m in a couple of years. Let alone a four-week period. But if what Johnny Depp's former business managers allege are true, then that is what is flowing out of the 53-year old Black Mass star's account every month. All as he overcomes a messy and bitterly public divorce with actress Amber Heard.
TMG's (The Management Group) lawsuit against the actor includes $75m spent across 14 different residents, $30,000 a month spent on wine, and a cool $18 million on a luxury yacht. This is in turn a countersuit from the former partners he has sued for mishandling his finances to the tune of $28m. Only to see the group hit back in turn.
Added Misery For Troubled Star
The cross-complaint was filed this Tuesday in L.A. County Superior Court. Joel and Robert Mandel reject the claim from Depp that they did not do everything in their power to look after his assets. Attorney Michael Kump made a brief statement on the matter to put the ball back in Depp's court.
"Depp lived an ultra-extravagant lifestyle that often knowingly cost Depp in excess of $2m per month to maintain, which he simply could not afford," writes the attorney. "Depp, and Depp alone, is fully responsible for any financial turmoil he finds himself in today... Depp also paid over $3m to blast from a specially-made cannon the ashes of author Hunter Thompson over Aspen, Colorado... Depp is responsible for his own financial waste."
Spend Money On Good Advice, Not Yachts
Charles Duhigg of The New York Times believes that there is plenty of blame to share around for this fiasco, arguing that Depp's ignorance has cost him dearly. Instead of just doing business with TMG.
"Mr. Depp, by his own admission, often had no idea what was occurring in his bank accounts and would regularly sign whatever documents the Management Group put before him," explains Duhigg, "without bothering to read what they said, on the assumption that his financial adviser 'was behaving as a loyal fiduciary and prudent steward of his funds and finances,' his lawsuit asserts."
For all his lavish excesses, the journalist thinks that Depp should have invested in smart advice as opposed to 14 houses.
"Relying on personal responsibility often isn’t enough. And so though we might be annoyed by the whimpers of movie stars, listening to their complaints about the agony of having too many houses is a small price to pay to make sure good advice stays that way. There are no clear heroes and villains in this story, or most others."