Johnny Depp is in the middle of a tough financial go these days. Sure, he’s a megastar who rakes in $20M up front for each Pirates of the Caribbean sequel as well as a purported $16M for a fragrance campaign. And sure, he owns a chain of private islands in the Bahamas, a main residence in Los Angeles called “The Castle” plus multi penthouses in one Los Angeles building, several homes in the Hollywood Hills, a french chateau near St. Tropez, one or two yachts, a multi-million dollar collection of wines. The list goes on and on…
Depp’s tough financial go comes from the “it goes on and on” part. Depp is currently involved in legal disputes with his former business managers, Joel and Robert Mandel, regarding loans taken out in Depp’s name for $5M. One of the Los Angeles homes has been seized and another property is being foreclosed upon as the properties he owns were used as collateral for loans he secured in 2012. Depp has responded to the Mandels’ in kind with a countersuit for $25M in damages for negligence and mismanagement of funds.
Depp’s tribulations are playing out in true Hollywood style. All parties in these suits and countersuits are “lawyered up to the gills” and some, though not all, people involved with Depp over the years are talking. One email Depp purportedly received from an ex-employee of TMG who had worked on his account said, “she knows all the dirt and all the thieves.” Another communication from a former TMG employee indicated that she was instructed to “…commit improper acts on the Depp account.” Of course, other communications refute such observations and instructions.
One thing that is both clear and indisputable is that Johnny Depp enjoys spending money. And he enjoys spending money, perhaps too much, perhaps too manically, on real estate. Depp’s attorney says that his real estate purchases have been “…great investments for the actor and have appreciated many times above their acquisition costs.”
Depp’s bottom line, according to a recent article in Vanity Fair, is that his latest Pirates of the Caribbean is “…on course to bring in more than a billion dollars to Disney (the film’s producer and distributor). Regardless of the legal wrangling yet to come, Johnny Depp will live to shop another day.”