Johnny Depp and 11 Other Celebrities Who Have Badly Mismanaged Their Money
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Version 0 of 1. Johnny Depp isn't the first celebrity to mismanage his money. Depp's former managers claimed in a lawsuit countering the actor's own suit earlier this year that the "Pirates of the Caribbean" star spends an extravagant amount of money on staff, real estate and even wine. Court documents obtained by The Hollywood Reporter say Depp lives a $2-million-a-month lifestyle and lists excessive splurges including $75 million on 14 residences, $18 million on a luxury yacht and $30,000 per month on wine. "Depp lived an ultra-extravagant lifestyle that often knowingly cost Depp in excess of $2 million per month to maintain, which he simply could not afford," writes Michael Kump, the attorney representing The Management Group, Depp's former managers. "Depp, and Depp alone, is fully responsible for any financial turmoil he finds himself in today." The countersuit also claims Depp paid more than $3 million to blast the ashes of author Hunter S. Thompson over Aspen, Colorado with a specially-made cannon. Depp, 53, sued TMG in January alleging "gross misconduct" resulting in the loss of tens of millions of dollars. He is seeking at least $25 million in damages. Regardless of whose fault it is, Depp is clearly having some money problems. And he wouldn't be the first celebrity to suffer such a fate. A number of stars have had major financial issues over the years. Depp isn't at the point of bankruptcy, but if he were to get there, he wouldn't be alone. Disney (DIS) founder Walt Disney's first film company was Kansas City, Mo.-based Laugh-O-Gram Studios, which went bankrupt in 1923. Ford Motor Company (F) creator Henry Ford saw his first enterprise go bankrupt at the turn of the century, and H.J. Heinz, the founder of the company that was just combined to create Kraft Heinz Co. (KHC) , had an early bottled horseradish business that went under following a financial panic. Here are 11 celebrities who have gone broke over the years: |