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Thread started 05/10/17 8:46pm

purplethunder3
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Johnny Depp: A Star in Crisis & The Insane Story of His 'Missing' Millions

Johnny Depp: A Star in Crisis & The Insane Story of His 'Missing' Millions

5/10/2017 by Stephen Galloway , Ashley Cullins



johnny-depp-may-2016-billboard-1548.jpg
Richard Shotwell/Invision/AP
Johnny Depp at the El Capitan Theatre on May 23, 2016 in Los Angeles.
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What happened to $650 million? An explosive legal battle between one of Hollywood's best-paid actors and the business managers he fired has laid bare tumultuous finances, outrageous spending and troubling behavior on Disney's new 'Pirates' movie in a case that could even change how the industry does business.

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Early one afternoon in October 2012, Jake Bloom and Joel Mandel left their respective Beverly Hills offices, slipped into their luxury cars and embarked on the roughly 30-minute journey to the Hollywood Hills compound of their client, Johnny Depp. Bloom was a rumpled and graying lawyer whose disheveled style camouflaged an intellect exercised on behalf of such luminaries as Martin Scorsese and Sylvester Stallone. Mandel, then in his early 50s, was a tall, rather amiable accountant who favored loose-fitting jeans and looser-fitting shirts, sartorial code designed to assure his clients he was just another boy in their band as well as a top-flight business manager steeped in the arcana of arbitrage and amortization.

Both men had been close to Depp for years. Bloom, indeed, was such a confidant to the actor that he had even joined him for an induction ceremony into the Comanche nation when he played Tonto in The Lone Ranger; as for Mandel, he had accompanied Depp to his three-island property in the Bahamas, atolls Mandel had helped his client buy for a total of $5.35 million.

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These men were part of Depp's inner circle, at least as far as any lawyer or accountant could belong to the inner circle of an artist this mercurial, one with a skull-and-crossbones tattoo on his leg and "Death is certain" scrawled beneath it, whose soul mates were such creative titans as Marlon Brando, Keith Richards and Hunter S. Thompson — the journalist whose ashes Depp fired from a cannon hauled to the top of a 153-foot tower, a tribute for which the actor says he paid $5 million.

Leaving their cars that day, the advisers approached one of Depp's five houses on a dead-end stretch of North Sweetzer Avenue. A modernist affair that was simply referred to as 1480, the building had been converted into a recording studio and was an appendage to an eight-bedroom, castle-like mansion once owned by music producer Berry Gordy. One of the star's two omnipresent assistants led the men in, past a painting that British artist Banksy had created for Depp, and into a den, where the actor was leaning back in a slightly battered chair, surrounded by dozens upon dozens of classic guitars.

After the obligatory small talk, the visitors got to the point: Depp's cash flow had reached a crisis point, they declared. Even though the star had become wildly wealthy (later, Mandel would claim Depp earned more than $650 million in the 13-plus years he had been represented by The Management Group, the company Mandel had started in 1987 with his brother Robert), there just wasn't enough liquid money to cover Depp's $2 million in monthly bills.

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Without a fire sale, Depp — then arguably the biggest star in Hollywood and certainly one of the best paid, thanks to the Pirates of the Caribbean franchise — would never be able to meet his obligations. Not the payments on his portfolio of real estate around the world. Not the impulse purchases such as the three Leonor Fini paintings he had bought from a Manhattan gallery (the first two for $320,000, the third as a $245,000 gift for then-girlfriend Amber Heard). Not the $3.6 million he paid annually for his 40-person staff. Not the $350,000 he laid out each month to maintain his 156-foot yacht. And not the hundreds of thousands of dollars he paid to sustain his ex-partner, Vanessa Paradis, and their children, Lily-Rose and Jack.

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Read more here: http://www.billboard.com/...g-millions

Find strength in that which remains...
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Reply #1 posted 05/10/17 9:19pm

Goddess4Real

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Thanks sad for Johnny.

Keep Calm & Listen To Prince
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Reply #2 posted 05/11/17 1:21am

EmmaMcG

I like Johnny Depp but I've no sympathy for him in this case. He was stupid with his money and has nobody to blame but himself. Besides, he'll never go broke. He just won't be as rich as he could be. But he'll still always be rich. There'll always be roles in movies for Johnny Depp.

One thing that caught my eye in the article which I think sums up Billboards "journalism" style is when they mention how Alice Through the Looking Glass flopped and they say that Disney will be hoping that Johnny Depp's personal issues don't cause the new Pirates movie to fail too. As if the reason Through the Looking Glass flopped had anything to do with Johnny Depp's personal troubles. It flopped because it was a bad movie, which was poorly marketed. Simple as that.
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Reply #3 posted 05/11/17 4:31am

XxAxX

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poor guy. the good news is at least it's only about money, not his health. i think he'll be fine eventually once his team prove up his claims but what a nasty tangle of legal action. that's just never, ever fun. dude's had a rough couple of years

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Reply #4 posted 05/11/17 7:27am

MacDaddy

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I can hardly hold back the tears

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Reply #5 posted 05/11/17 8:17am

IstenSzek

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MacDaddy said:

I can hardly hold back the tears


lol

and true love lives on lollipops and crisps
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Reply #6 posted 05/11/17 12:34pm

XxAxX

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MacDaddy said:

I can hardly hold back the tears


giggle
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Reply #7 posted 05/11/17 10:22pm

nextedition

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XxAxX said:

poor guy. the good news is at least it's only about money, not his health. i think he'll be fine eventually once his team prove up his claims but what a nasty tangle of legal action. that's just never, ever fun. dude's had a rough couple of years


Rough couple of years? The guy spends 2 million a month. How rough can it be?
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Reply #8 posted 05/13/17 6:19am

XxAxX

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nextedition said:

XxAxX said:

poor guy. the good news is at least it's only about money, not his health. i think he'll be fine eventually once his team prove up his claims but what a nasty tangle of legal action. that's just never, ever fun. dude's had a rough couple of years

Rough couple of years? The guy spends 2 million a month. How rough can it be?



2 mil worth of happiness? is that how much it costs?

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Reply #9 posted 05/13/17 11:12am

luvsexy4all

too much money means u cant a find a woman u can trust

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Reply #10 posted 05/15/17 3:57am

Chancellor

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Johnny so broke people thought he was a paid Actor pretending to be Captain Sparrow at Disney Land a few weeks ago...That's was Johnny alright, in full-costume, trying to pay off the foolish debts he made...

I NEVER feel sorry for The Uber-Rich...Why would I spend $100K on a painting when all my Mama had hanging on her wall was a $10 picture of Fake Jesus?

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Reply #11 posted 05/15/17 12:53pm

morningsong

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I hope he bounces back. This is hard watching all these folks ride these roller coasters. I think I'm burning out on being so attached to these celebrities, my cup has overflowed fourscore at this point.

“Do I dare Disturb the universe?”
― T.S. Eliot

“Only by acceptance of the past, can you alter it”
― T.S. Eliot
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Reply #12 posted 05/15/17 1:43pm

purplethunder3
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morningsong said:

I hope he bounces back. This is hard watching all these folks ride these roller coasters. I think I'm burning out on being so attached to these celebrities, my cup has overflowed fourscore at this point.

The only one I was (re)attached to was Prince. Now that he is gone, I'm done.

Find strength in that which remains...
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Reply #13 posted 05/15/17 4:15pm

morningsong

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purplethunder3121 said:

morningsong said:

I hope he bounces back. This is hard watching all these folks ride these roller coasters. I think I'm burning out on being so attached to these celebrities, my cup has overflowed fourscore at this point.

The only one I was (re)attached to was Prince. Now that he is gone, I'm done.




No one has or will ever be in the place Prince is for me, but there are degrees and right now I'm seeing I'm a bit too raw even for my normal mild attachments to go all off kilter and crash landing, I'm a bit annoyed by it too.

“Do I dare Disturb the universe?”
― T.S. Eliot

“Only by acceptance of the past, can you alter it”
― T.S. Eliot
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Reply #14 posted 05/15/17 4:28pm

purplethunder3
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morningsong said:

purplethunder3121 said:

The only one I was (re)attached to was Prince. Now that he is gone, I'm done.




No one has or will ever be in the place Prince is for me, but there are degrees and right now I'm seeing I'm a bit too raw even for my normal mild attachments to go all off kilter and crash landing, I'm a bit annoyed by it too.

I know exactly what you mean... Especially after people I have known personally for a very long time have passed away in recent years... Feeling raw is the right term. confused

Find strength in that which remains...
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Forums > General Discussion > Johnny Depp: A Star in Crisis & The Insane Story of His 'Missing' Millions