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TMG claims he Depp spends $2 million per month on his lifestyle. Depp definitely isn't a frugal guy. Wow.
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The threat of foreclosure is just the latest exchange in what has become a bitter back-and-forth between the actor and his former managers, who he claims mismanaged the $650 million he’s made in the last two decades to the point of depletion.
Depp sued TMG in February for $25 million in a fraud lawsuit, in which he claimed that the firm was trying to foreclose on his primary residence. “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,” read the complaint.
“In essence, TMG treated Mr. Depp’s income as their own, available to either TMG or third parties to draw upon as desired,” the filing continued.
TMG later filed a cross-complaint against Depp, claiming the actor lived an “ultra-extravagant lifestyle that often knowingly cost [him] in excess of $2 million per month to maintain, which he simply could not afford.”
Being an A-list actor, I would think he should easily be able to afford that kind of lifestyle, so there is probably is some fraud going on with those that have access to his money imo.
If he is really spending 2 million a month he may very well be broke. I remember hearing he spent a ridiculous amount on just wine. Can't remember the figure but sounds like he needs to curb his spending habits and roll out another Pirate movie.
If he is really spending 2 million a month he may very well be broke. I remember hearing he spent a ridiculous amount on just wine. Can't remember the figure but sounds like he needs to curb his spending habits and roll out another Pirate movie.
$24 Million a year in living expenses is a pretty nice lifestyle. I don't understand why actors, and athletes put so much trust in their managers. It seems a lot of them get swindled.
I don't understand why actors, and athletes put so much trust in their managers.
Because most of them know squat when it comes to managing money. Unfortunately, this leaves them vulnerable, both to overspending and to being swindled.
2 million a month sounds like a lot......but he made 640 million. If it was invested he would make more then 2 million a month....IE he could live off of the investments without touching his income.
Hard to say who is at fault without a LOT more information. A judge will sort it all out in the end.
Because most of them know squat when it comes to managing money. Unfortunately, this leaves them vulnerable, both to overspending and to being swindled.
I wouldn't necessarily jump to the conclusion that he was swindled. I mean, we're talking about a guy who blew 5 Million bucks to shoot Hunter Thompson's ashes out of a cannon.
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