Most of us don’t think of A-list movie stars as having trouble paying for anything they want, but even when you’re making millions, it’s possible to spend more than you make. It can happen to the best, either through irresponsibility or mismanagement.
Because the extremely wealthy usually hire people to manage their money for them, everyone tends to start pointing fingers when things go wrong and it’s usually up to the courts to determine who was ultimately at fault.
According to The Management Group (TMG), Johnny Depp, the 53-year-old Oscar nominee and their former client, has been spending $2 million a month and allegedly still owes them $4.2 million for a loan they gave him. The unpaid loan allegedly forced them to start foreclosure proceedings on properties owned by the celebrity.
TMG claims it has been doing everything in its power to curb Depp’s outrageous spending habits for the better part of two decades. But the actor allegedly failed to respond appropriately, blamed his business managers, and continued to overspend. Continue reading