Is Johnny Depp Going to be the Next Nicholas Cage?

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Actor Johnny Depp is careening towards financial ruin caused by an extravagant lifestyle which is out-of-sync with the mediocre returns of his declining career.

Depp, who plays Jack Sparrow in the hugely successful “Pirates of the Caribbean” franchise has had a lackluster career for the past few years with critical and commercial failures like The Loner Ranger, Mortdecai, and Transcendence. While there has been the odd acclaimed performance like Black Mass, box office gold has been elusive. For two years Depp has topped the Forbes list of overpaid actors because of his involvement in some big-budget box-office duds such as Alice Through the Looking Glass.

Depp has blamed his business managers- The Management Group, for his troubles and sued them for $25 million, accusing them of fraud, mismanagement and concealing facts about his financial condition. The Management Group have filed a counter-suit against Depp for about $4 million that they say Depp owes them and claimed that he was always kept informed of his finances. According to TMG, when warned about his extravagant spending, Depp “rebuked and cursed” his managers, asking them to find a way to fund it. The counter-suit has revealed additional details on Depp’s spending and his extraordinary profligacy. TMG have alleged that Depp wasted $18 million on a 150 feet luxury yacht, spent $30,000 a month on buying expensive wines for his personal consumption and spent $200,000 a month flying in private jets. He also spent wildly on collectibles which include work by such artists as Warhol, Modigliani, and Klimt, Hollywood memorabilia of stars such as Marlon Brando and Marilyn Monroe, pieces of expensive jewelry and a collection of 70 collectible guitars.

Depp also spent over $75 million on a string of residences he owns around the world, including a 45-acre castle in the south of France, an island chain in the Bahamas, several residences in Hollywood and downtown LA and a horse farm in Kentucky.Besides leading a high-maintenance lifestyle, Depp is prone to eccentric spending such as the $3 million he spent on shooting author Hunter Thompson’s ashes to the sky with a specially-purposed cannon. Hunter Thompson, who shot himself in 2005, was played by Depp in the 1998 film “Fear and Loathing in Las Vegas” and the two remained good friends thereafter. The ceremony was attended by such luminaries as John Kerry, Bill Murray, Jack Nicholson, Sean Penn and Benicio del Toro (who also starred in the film) but Depp alone footed the bill.

As Depp teeters on the edge of a financial cliff while his Hollywood star visibly dims, he might be handed a lifeline by the Pirates of the Caribbean franchise whose sixth installment – Pirates of the Caribbean: Dead Men Tell No Tales will be released this year. The franchise, which has grossed over $1.6 billion worldwide and paid Depp over $300 million, may yet rescue his sinking career and re-establish him as a box-office draw. If not that, Depp might be reduced to the path taken by Nicholas Cage, a former A-lister whose career was sucked into a black hole after profligate spending and tax troubles forced him to work in such awful features as Outcast and Left Behind.

Dead Men Tell No Tales, but Depp Fought to Stay Alive During the Shoot

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The lifestyle of the rich and the famous comes with a price tag many of is couldn’t begin to imagine, no example of which could be better than Johnny Depp.

According to a lawsuit filed with the Los Angeles Superior Court by The Management Group (TMG), during the filming of Pirates of the Caribbean: Dead Men Tell No Tales Depp was struggling to keep himself from financial ruin due to his lifestyle. He’s reportedly got 14 different homes, a yacht and a monthly wine bill that would put your yearly rent check to shame. Basically, he’s got everything many of us wish for on a too-often basis.

According to a lawsuit filed with the Los Angeles Superior Court by The Management Group (TMG), during the filming of Pirates of the Caribbean: Dead Men Tell No Tales Depp was struggling to keep himself from financial ruin due to his lifestyle. He’s reportedly got 14 different homes, a yacht and a monthly wine bill that would put your yearly rent check to shame. Basically, he’s got everything many of us wish for on a too-often basis.

According to the lawsuit, TMG is suing Depp for breach of contract and promissory fraud, pleading with the courts not to be swayed by his status. Their reports have it listed that his properties cost around $75 million to purchase and continue upkeep, the yacht was $18 million and each month he purchases around $30,000 worth of wine. Twelve separate storage units contain the actor’s collection of Hollywood memorabilia and fine arts, which he utilizes private jets to go buy. As his fame increased so did his appetite for the lavish, pushing his lifestyle beyond the means of what he could afford.

Initially he would ask for advances for acting in the movies he starred in, mainly from Disney, but eventually, that transformed into taking out loans from City National Bank. When he got an eye on a property he wanted there would be no talking him out of it, he had to have it. To help him out there, CNB and the First Republic Bank gave him several residential loans. One thing about borrowing money, however, the people you borrow from eventually want that money back and you can’t pay it when you’re in the red already. Not to mention, most of us never see this situation coming, which goes a long way in compounding the problem.

The reports state that multiple attempts to speak with Mr. Depp about switching up his habits a bit proved unsuccessful and were often met with profane tirades of narcissistic rage. They even go so far as to state that Depp would abuse the financial advisors and inform them how they’ll just work harder to get him what he wanted. A report from back in 2008 outlines an email advising Him against the purchase of a new home, to which he responded by purchasing the house.If these accounts are true then we have one very high pedestal to see the actor fall from, though we hope it doesn’t come to that (his movies are pretty good).

Depp has promised more than once to change his ways, but it never happens. Finally, it’s time to face the music, though someone needs to tell that to him! Just last month he filed a lawsuit against TMG under the claims that his new business manager found serious misconduct’, though the management group is under the impression it’s only to stall the foreclosure proceedings they started in an attempt to get back the $4.2 million he has left to pay.

Arrrrh, Johnny Depp! He cracks open his own treasure chest like a pirate

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It’s some weeks from now when Johnny Depp; a renowned Hollywood actor, sued his business managers for professional negligence claiming they mishandled his money for 17 years (1999-2016). The Management Group, however, took a further step in this case and they filed a suit against their ex- boss claiming he still owes them some amount.

The upcoming case discloses some of the actor’s extravagant lifestyle, which the countersuit claims it’s the main cause of Depp’s financial turmoil. The former managers have alleged that the actor spent $30,000 a month on wine and a shocking $3m blasting author Thompsons’ ashes from a cannon. Depp reportedly said that he was just giving the best of wishes to his long time friend. Thompson died in 2005, at the age of 67 after shooting himself. He had kept their friendship with Depp since they both appeared in the 1998 Fear and Loathing in Las Vegas movie. It’s believed that Johnny Depp bankrolled the ceremony that involved raising cannon, 47m high to the top of a tower on Hunter’s Colorado farm.

After launching their countersuit on January 31, The Management Group claimed Depp was so arrogant to heed their financial advice and that of the other advisors. Depp claims on the managers included financial mismanagement and defraud, hiding the extent of his spending from him and taking out loans without his approval.

On the other hand, the countersuit responded that Depp was fully briefed and well informed of his extravagance. They claimed that the poor states of his finances were due to his own negligence and spend drift behavior that included a failed record label valued at $ 4m, $ 18m on the 150-foot yacht and luxurious private planes valued at $ 200,000 a month. Other spends included $ 150, 000 on security a month and $ 300,000 for maintaining his 40 staff a month.

TMG, (The Management Group) said that Depp has refused to live within his means. He despised the constant warnings about the financial status and instead rebuked them for issuing such advice and “unnecessary” warnings. In December last year, Johnny Depp was named one of the worst value actors by the Forbes magazine. Depp has now won the same title twice- he also won it in 2015. Depp has also been in a long allegation of assaulting the then wife, Amber Heard during a domestic fight in their Los Angeles apartments. There have been some domestic allegations by Amber Heard against Depp way back in August 2016; the two settled the case the same month. Amber Heard withdrew the charges from Depp after they came to an agreement.

Depp has appeared in many favorite movies such as the Harry Potter, spinoff Fantastic Beasts & Where to Find Them and this year he will turn up in his most iconic character, Captain Jack Sparrow; for the sixth film of Pirates of the Caribbean. He has also received various awards, and his latest being the People’s Choice awards that were held last month. He made an emotional speech where he thanked all his fans for believing in him and always supporting him in the acting career. Depp’s long and unsettled domestic allegations came to an end after they divorced successfully, January this year.

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