File image: Actor Johnny Depp. Photo: Stringer. (IOL).
File image: Actor Johnny Depp. Photo: Stringer. (IOL).

Johnny Depp is apparently broke and here is why

By Staff Reporter Time of article published Jun 24, 2018

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CAPE TOWN - American magazine, Rolling Stone reportedly published a revealing story about Hollywood actor, Johnny Depp which details his money troubles and spiraling drinking. 

The writer of the expose, Stephen Rodrick reportedly spent 72 hours with Depp at his London mansion, reports BuzzFeed. 

According to Rolling Stone, almost all of Depp’s entire R8.7 billion fortune is gone. There are also allegations that the actor is suing his former business partner, Joel Mandel and his brother, Robert for "negligence, breach of fiduciary duty, and fraud."

However, the duo deny this allegation and are countersuing Depp for compulsory spending, saying that Depp would splurge R27.6 million per month on purchases. 

Depp’s reported crazy expenses:

- R1.4 billion on more than a dozen residences.

- R40.5 million to shoot the ashes of his friend Hunter S.Thompson into the air from a cannon.

- R94 700 to buy his daughter a couch from the set of Keeping Up With the Kardashians.

- Up to R2.7 million each month on private air travel and he also bought 200 pieces of art which include work by Jean-Michel Basquiat and Andy Warhol.

- Depp reportedly responded to TMG’s claim and said it in fact costed him R67 million instead of R40 million. 

In other Depp news, the actor was last month sued by two of his former bodyguards.

The 54-year-old actor faced legal action from security professionals Eugene Arreola and Miguel Sanchez, who sued for a range of reasons, including unpaid wages and wrongful termination.

The duo were employees of the security firm Premiere Group International, but according to the lawsuit, Depp hired them both individually after he'd decided to cut his ties with the company in 2016.

Arreola and Sanchez claimed they were told they would be considered "employees" by Depp, meaning they were to receive all of the usual benefits.

The duo said that between 2016 and 2018, "things began to spiral toward chaos", adding that they "found themselves in situations that required more than what a bodyguard would be expected to do".

More specifically, Arreola and Sanchez alleged that they were "asked repeatedly to drive vehicles that contained illegal substances, open containers and minors".

In the lawsuit, they also alleged that they were "forced to protect [Depp] from himself and his vices while in public, becoming caretakers for him".

The bodyguards explained that the "unsafe conditions and situations" in which they were forced to work led to them developing "stress-related injuries".

Meanwhile, take a look at 5 celebrities who have gone bankrupt but came back better than ever:


         Picture: Larry King. (Facebook). 

American television and radio host, Larry King did not always have a positive bank balance. 

In 1978, he owed R4.8m to creditors and R191 000 in gambling debts.  It is reported that his wife, Sharon, convinced him to declare bankruptcy.  He was later banned from obtaining personal credit until 1985. 

1985 however turned out to be a prosperous year for King who debuted his show, “Larry King Live” on CNN.  “Larry King Live” earned him a whopping R2.7m per year starting salary. 


 Picture: Toni Braxton. (Facebook). 

Toni Braxton bounced back from bankruptcy twice. 

The songwriter and singer first declared bankruptcy in 1998 and then later in 2010.  During her second bankruptcy, Braxton landed the reality show "Braxton Family Values". 

She then went on to purchase a R39.6m home in Calabasas in 2014. Her current net worth is R136.8m. 

3. 50 CENT

          Picture: 50 Cent. (Facebook). 

Rapper and actor, Curtis Jackson, better known as 50 Cent filed for bankruptcy in July 2015, despite earning millions from the start of his career. 

The bankruptcy filing followed lawsuits 50 Cent was hit with which was at R68.3m and R235.1m respectively. Bankruptcy documents revealed G-Unit Records and G-Unit Brands cost him more than R136.6m. 

In 2016, 50 Cent reclaimed financial stability by settling his debt. A November 2016 income statement obtained by TMZ revealed he earned R456 000 from music royalties, which likely helped get his current net worth to R273.4m.


         Picture: Nicholas Cage. (Twitter). 

American actor, director and producer Nicholas Cage was once worth R2.5bn. 

His reckless spending habits however led to him losing the bulk of his fortune. In 2009, Cage sued his former business manager Samuel Levin for R273m, claiming he led him toward financial ruin. 

However, a counter-filing by Levin revealed that in 2007 alone, Cage purchased three homes for a total of more than R451m, 22 vehicles — including nine Rolls Royces - 12 pieces of expensive jewelry and 47 works of art and exotic items. Nearly one year later, the lawsuit was settled confidentially. In 2009, Cage claimed financial stability by ranking No. 5 on Forbes’ list of top-earning actors for 2009, with a total of R546m in earnings.

His net worth is now a healthy R341.5m.


        Picture: Rhianna. (Twitter). 

The Barbados singer reportedly had R150.3m in the bank in 2009 and was left with R27.3m by the end of the year.

As part of a 2012 lawsuit filed against her former accountant, she claimed she was advised she could afford a house purchased between R95.7m and R10.2m, which she ended up selling at a R27.3m loss. 

In 2014, she won roughly R136.7m in an out-of-court settlement against Peter Gounis of Berdon LLP, according to The Washington Post. Today, Rhianna has a net worth of R3.1bn. 

READ MORE: Johnny Depp sued by former bodyguards

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