Johnny Depp is reportedly swimming in debt trying to maintain a lavish lifestyle.
According to court documents filed in Los Angeles court, Depp’s former business managers TMG allege that Johnny Depp is living an extravagant $2 million per month lifestyle that he is supporting through multiple loans.
The allegations, as reported by the Daily Mail, surfaced as Depp takes TMG to court in a $25 million lawsuit that accuses the company of negligence, fraud, and incurring massive penalties for failing to pay Depp’s taxes on time.
Depp fired TMG, headed by Joel and Robert Mandel, after his new financial management team discovered irregularities in Depp’s books. The lawsuit claims that over the course of their 17-year working relationship TMG racked up $5.6 million in penalties for filing taxes late, loaned out $10 million to third parties without Depp’s permission, took out loans without his knowledge, and made sloppy work of keeping Depp’s accounting in line.
TMG’s lawyers responded by requesting business documents from Depp for every loan he’s taken out over $5000. TMG alleges that those documents are necessary to prove that Depp firstly signed every loan that TMG took out for Depp, and that Depp lives a lifestyle way beyond his financial means funded by his rising need for debt.
Depp’s lifestyle is partly a matter of public record. The famous Pirates of the Carribean actor owns multiple homes, cars, and even a private jet that would bust all but the richest of budgets.
That’s not all. Depp owns an $18 million luxury yacht, reportedly drops $30,000 on wine every month, has a staff of 300 employees at a total bill of $300,000 per month, and a 24/7 security detail on both himself and his two kids at $150,000 per month.
Depp’s lawyers are refusing to provide TMG with the requested info, arguing that it’s not relevant to the case at hand.
Relevant or not, Depp is still selling off quite a bit of his fortune to pay down his reportedly $40 million in debt. He recently sold the last of his five penthouses in Los Angeles for a sum total of $10.88 million.