US$3M to blast ashes of Hunter S. Thompson
Firm outlines Johnny Depp’s luxurious lifestyle
After making Forbes’ list as the most overpaid actor for the second- straight year, Johnny Depp’s reputation for collecting easy paycheques while acting in box office stinkers has been solidified. It turns out there might be a good reason for Depp consistently wanting to make dollars over art. According to a report from Deadline, the eccentric actor has been attempting to fund a US$2-million-a-month lifestyle.
The news comes after Depp filed a fraud lawsuit against his longtime former business managers at The Management Group ( TMG) for US$ 25 million. On Tuesday, TMG shot back with a cross- complaint, claiming Depp l i ved an “ultra- extravagant lifestyle that often knowingly cost him in excess of $ 2 million per month to maintain, which he simply could not afford.”
In his lawsuit, Depp’s lawyers claim that “as a result of years of ( TMG’s) 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.” He is asking for more than US$25 million in a jury- seeking suit alleging breach of contract and professional negligence.
Depp goes on to claim that TMG paid itself over US$ 28 million in contingency fees without a written agreement, while failing to pay or file his taxes on time and loaning millions to third parties without his consent.
TMG says Depp’s claims are “absurd and untrue,” and that it “filed each and every tax return timely” and “always maintained state-of-theart accounting records.”
The firm is asking that Depp pay over US$ 560,000 in allegedly unpaid commissions and credit card fees. In addition, TMG is asking for a court declaration that it “complied with all of its fiduciary obligations under the law and that Depp is responsible for his own financial waste.”
“For years, TMG repeatedly informed Depp and Elisa Christie Dembrowski (Depp’s sister and personal manager) and personal lawyer, Jake Bloom, that Depp was living beyond his means, and urged him to spend less and to sell certain expensive but unnecessary assets to repay loans and pay his taxes and living expenses,” the countercomplaint reads.
In fact, when the company warned him about his overspending, often “begging” he “curb his spending and sell assets,” they claim Depp “often engaged in profanity-laced tirades where he abused the professionals surrounding him and claimed that he would work harder to afford whatever new item he wanted to purchase.”
“TMG did everything within its power over the last 17 years to protect Depp from himself and to keep Depp financially solvent,” states the cross- complaint. “However, ultimately TMG did not have the power or ability to control Depp’s spending or his numerous other vices, or to force Depp to make wiser financial decisions.” What kind of vices exactly? This is where t hings get juicy. The company’s 31- page countersuit goes into great detail about just how Depp spent his money over the years and how they attempted to help him understand the state of his finances, including countless “come to Jesus” meetings.
Hi s manager s even warned him repeatedly to get a pre-nup before his marriage to Amber Heard, which ended late last year in a multimillion-dollar settlement and highly publicized divorce.
The complaint goes on to claim that Depp made the following extravagant purchases in his near two decades with the company:
Over US$ 75 million to “acquire, improve and furnish 14 residences, including a 45- acre château in the South of France, a chain of islands in the Bahamas, multiple houses in Hollywood, several penthouse lofts in downtown Los Angeles, and a fully- functioning horse farm in Kentucky.” Over US$ 18 million to “acquire and renovate a 150- foot luxury yacht.” Millions “acquiring and/or maintaining at least 45 luxury vehicles.” US$ 30,000 per month on wine “he had flown to him from around the world for his personal consumption.” Over US$ 3 million “to blast from a specially- made cannon the ashes of author Hunter Thompson over Aspen, Colorado.” Millions “to acquire and maintain a massive and extremely expensive art collection including over 200 collectible pieces and works by world f amous artists such as Warhol, Klimt, Basquiat and Modigliani; many pieces of expensive world class jewelry; and approximately 70 collectible guitars.” Millions on collectibles and memorabilia involving icons such as Marilyn Monroe, John Dillinger and Marlon Brando. The collection is so extensive it fills “12 storage facilities” and cost over US$1 million just to archive. Over US$ 150,000/month on fulltime security for his children. At least US$300,000/month on a staff of approximately 40 full-time employees. Over US$ 10 million in financial support to his friends, family and certain employees. Over US$ 4 million on a start- up musical label run by a childhood friend. US$200,000 per month on private planes.
TMG has also filed a separate and ongoing non-judicial foreclosure in regards to a US$ 5 million loan the company gave to Depp in 2012 when he was “facing public financial ruin.” In his complaint, Depp asked for a temporary restraining order and permanent injunction preventing TMG from foreclosing on his home.
The countersuit also details a text to TMG from Depp in October, 2015, seemingly admitting his financial woes, reading, “I am ready to face the music, in whatever way I must. I know there’s a way to dig ourselves out of this hole and I am bound and determined to do it.”
But in the end, his former managers say that “way” became suing them in order to avoid what he owes them.