Many entertainment stars love the finer things in life, but it seems even the earnings of an A-lister like Johnny Depp couldn’t sustain his wild indulgences.
The “Pirates of the Caribbean” star is currently in a public-relations tailspin after his messy divorce with actress Amber Heard, who alleged he had abused her, and his filing a $25 million lawsuit against his former business managers at The Management Group. (TMG has countersued.)
Things didn’t get any better for Depp on Wednesday when The Hollywood Reporter published a feature that went deeper into Depp’s financial woes.
TMG’s Joel Mandel claims that even though Depp has earned more than $650 million in the more than 13 years the company represented the star, Depp didn’t have enough cash to cover his $2 million in bills each month.
Depp’s extravagant spending habits reportedly include $3.6 million annually for his 40-person staff, $350,000 monthly for maintaining his 156-foot yacht, $30,000 monthly for wine, and $5 million the star says he spent to shoot the ashes of his friend Hunter S. Thompson out of a cannon.
TMG says it met with Depp numerous times over the years to try to get Depp to sell some of his expensive items. On one occasion, he agreed to sell his $10 million yacht that he spent $8 million to renovate, according to The Hollywood Reporter. Another year, TMG almost got Depp to sell his French chateau – on which he spent $10 million to renovate – but he got cold feet after prospective buyers came calling, according to the former business managers, and it has since been relisted for $39 million.
Depp has routinely earned $20 million up-front paychecks for the movies he’s been in since the success of 2003’s “Pirates of the Caribbean: The Curse of the Black Pearl.” He also gets 20% of the backend per picture, according to The Hollywood Reporter – a source said that was $40 million from the backend of each “Pirates” movie and $55 million from his profit on the 2010 hit “Alice in Wonderland,” which earned over $1 billion worldwide.
TMG attorney Michael Kump said in the lawsuit that TMG stepped in to help Depp avert a “devastating financial collapse.” Depp has claimed he was kept in the dark about his finances.
It’s unclear how cash-strapped Depp is. According to litigation, he has received $25.7 million over the past two years in profits from six movies, and he earned up-front money – likely close to $20 million each – from “Fantastic Beasts and Where to Find Them,” “LAbyrinth,” and “Gnomeo & Juliet: Sherlock Gnomes.”
A representative for Depp did not immediately respond to Business Insider’s request for comment.