• Home
  • Personal Finance
  • Investing
  • Business
  • Career
  • Consumer
  • Debt
  • Lifestyle
  • Retirement
  • Taxes

Personal Finance News

Latest News About Personal Finance

  • Blogger Net Worths
  • Top Personal Finance Blogs
  • Blogroll

How Johnny Depp Runs Out of Money

July 11, 2017 1 Comment

Despite earning multi-million dollars, the Pirates Of The Caribbean star Johnny Depp is broke. He is currently suing his former business managers in a $25 million legal battle for mishandling his personal finance.

So how is Johnny Depp so broke? It has nothing to do with his extremely high income, but his reckless spending habit is causing his own financial mess. From the filing in a lawsuit, Depp has spent $3 million to shoot Hunter S. Thompson’s ashes out of a cannon a dozen years ago. The top-tier Hollywood star spends $2 million every month on daily expenses and wastes $30,000 a month on wine. This is a classic story of people making over a million dollars still live paycheck to paycheck and are in debt.

Whether or not one is living at the edge of your finances has much less to do with how much money you earn than it does how you spend. Being rich or poor is somewhat determined by choices and effort, but mostly determined by luck. However, living paycheck to paycheck is almost always due to choices. Without the full grasp of where the money goes and an inability to live below his means, Johnny Depp runs out millions of dollars.

His financial management group TMG outlined other extravagances that Depp spent on:

  • An estimated $200,000 for flying in private jets.
  •  $400,000 on a diamond cuff estimated to be worth less than half that amount.
  • “Millions” on guitars and artwork. 
  • More millions on Hollywood memorabilia.
  • $3 million for an “ash cannon” to fire off the remains of legendary journalist Hunter S. Thompson.
  • $3.6 million annually for his personal staff.
  •  $5.35 million for his chain of islands in the Bahamas.
  • $18 million for a 156-foot yacht, which Depp’s financial planners have convinced him to sell to author J.K. Rowling.
  • And lastly, $75 million for the purchase and renovation of 14 residences worldwide.

Related

Comments

  1. Lance @ My Strategic Dollar says

    July 11, 2017 at 9:14 pm

    Daaaaannnnggggggg. Who knew he was blowing so much money. Crazy! Thanks for sharing.

Leave a Comment Cancel reply

Must Read

  • What's the Recommended Temperature for Vacant Home in Winter?
  • Professional Panda Cuddler as the World's Best Job for $32,000 per Year
  • How to Refinance a Paid Off Car
  • How to Reach a Live Person at IRS to Resolve Tax Problems
  • How to Cash Out Pension Plan Early
  • 61% Now Living Paycheck to Paycheck
  • 36% Earning $100,000 or More Living Paycheck to Paycheck
  • 401(k) Balances Hit a New All-Time High
  • Uber Now Lets You See How Many One-Star Ratings You Received From Drivers
  • Losses To Romance Scams Reached a Record $304 Million in 2020

Recent Posts

  • More Americans Are Using ‘Buy Now, Pay Later’ Services To Pay for Groceries
  • 5 Tips To Get The Best Value On An Insurance Policy
  • 61% Now Living Paycheck to Paycheck
  • 36% Earning $100,000 or More Living Paycheck to Paycheck
  • Two-Thirds of Americans Live Paycheck to Paycheck
  • The Hit to Your Pocketbook From Higher Gasoline Prices: $2,000 a Year
  • Uber Now Lets You See How Many One-Star Ratings You Received From Drivers
  • Survey: 7 In 10 Americans Living Paycheck To Paycheck

Connect With Us

  • Facebook
  • Twitter
Home · About · Terms · Privacy · Contact · Copyright © 2023 · Personal Finance News