Johnny Depp’s $ 650 Million Movie Fortune ‘Almost All Gone’, Says Rolling Stone Exposé – Deadline

0


Johnny Depp – “alternately hilarious, devious and incoherent” in a new major Rolling stone profile focused on the actor’s legal and financial issues – has, according to the article, made $ 650 million on films that grossed $ 3.6 billion. “Almost everything,” the magazine said, “is gone. “

The play, titled “The problem with Johnny Depp”And written by Stephen Rodrick, details Depp’s lawsuits against The Management Group, led by Depp’s longtime business manager Joel Mandel and his brother Robert, for negligence, breach of fiduciary duty and fraud. “The lawsuit cites, among other things, that under TMG’s watch, Depp’s sister Christi received $ 7 million and his assistant, Nathan Holmes, unwittingly paid $ 750,000. to the IRS over $ 5.6 million in late fees. ” The lawsuit is claiming more than $ 25 million from TMG, which represents tens of millions that it claims TMG illegally took for its commission, plus any additional damages the court deems appropriate.

Related story

Johnny Depp says he’s boycotted by Hollywood, worries about “Minamata” release

Among the strengths of the article:

-The Mandels deny any wrongdoing and sue, alleging, among other things, that Depp has a mandatory spending disorder of $ 2 million per month, offering nice words like “Wine is not an investment if you drink it as soon as you buy it”. Depp concocted “malicious and false allegations” against the company, according to the TMG counter-suit, because TMG had filed a private seizure notice on one of Depp’s properties;

– Depp’s closest confidant these days is Adam Waldman, a 49-year-old lawyer the actor met less than two years ago. “Waldman seems to have convinced Depp that they are freedom fighters taking on the Hollywood machine rather than scavengers fighting over the crumbs of a wasted fortune.”

-A constant in Depp’s business, the magazine writes, was the older sister Christi, who ran her day-to-day affairs and was not involved in the Rolling stone article. In 1999, she and Depp looked for a bigger management company, and Depp now says he chose Robert and Joel Mandel, brothers who ran TMG, because the actor saw Joel as a soul mate. “It was a nervous wreck,” Depp says. “He was sweaty. He was broken. (TMG disputes the representation).

-On Harvey Weinstein: “He flips through the news and comes across a report on Harvey Weinstein. He shakes his head and calls him an asshole for burying his movie Dead man because director Jim Jarmusch refused to give up his contractually mandated final cut. “He was a tyrant,” Depp says. “Have you seen his wife?” It is not a wide range. It’s not like he’s been like, “I have to go to the Poconos to find a bitch with a hairy back.” Later, Depp said of Weinstein, “The image that took my breath away was Harvey Weinstein, a goliath Shrek, leaning over his daughter’s raincoat.

-On Donald Trump: At last year’s Glastonbury Festival, Depp, “maybe drunk,” asked, “Can we bring Trump here?” . . .When was the last time an actor assassinated a president? “ Depp now says he was “trying to hook him up to Trump by saying he could shoot someone on Fifth Avenue, but it didn’t go well.”

-Waldman contacted Rolling stone to throw the ball on the profile. “He pointed out what he considered to be an anti-Depp story in Hollywood journalist, where the Mandels were presented as eminently reasonable men who repeatedly tried to warn Depp of his precarious financial situation. No one from TMG was cited, but Waldman was convinced his fingerprints were all over the story.

Rolling stone quote a Business intern story claiming that Waldman was paid over $ 2.3 million for his work on behalf of Oleg Deripaska, a Russian aluminum tycoon and oligarch with close ties to the Russian president. “Meanwhile, Deripaska became a bit of an actor in the Russian collusion scandal when it was reported by The Washington Post that Trump’s campaign manager Paul Manafort offered to give Deripaska private briefings on the campaign shortly before the GOP convention.

Waldman met Depp in October 2016, “after being told by a client that Depp needed help. TMG had just slapped the foreclosure notice on its LA homes for non-payment of a $ 5 million loan. Company dollars. TMG had filed it as a non-judicial foreclosure, so there was no public deposit. The public at this point had no idea of ​​Depp’s financial situation.

Disney

-Under Waldman’s direction, Depp took legal action against the Mandels, claiming that the actor did not receive monthly financial statements and “often was only shown a signature page to sign for The lawsuit further alleged that – in addition to the $ 7 million given to his sister Christi – TMG had cost Depp $ 6 million in additional fees by paying his IRS taxes late for 13 consecutive years. accused TMG of taking out $ 34 million in loans on its behalf as a result of mismanagement, “the latest kick-off being a $ 12.5 million” hard money “loan designed by its longtime lawyer Jake Bloom in 2014, at 10 percent interest. The loan stated that “Christi, Bloom and Mandel’s fees would be paid before loan repayments and certainly before Depp saw a dime of residue from his Pirates of the Caribbean series.”

-Depp and Waldman believe his trial will “change Hollywood forever,” the article says. The lawsuit flips over for fences and claims that TMG owes Depp more than $ 25 million in ill-gotten five percent commissions because, among other reasons, they claim that TMG acted not only as money managers but also as attorneys, which meant he had to enter a new deal with Depp for every movie deal.The same charge would ultimately be brought against Bloom, who filed a counter-suit, denying all of the claims.

-When current and former Depp teams met for a settlement discussion, Joel Mandel “lost his mind,” declaring, “You cost me tens of millions of dollars. Now it’s my turn. I’ll destroy Johnny. They will know everything. (Mandel and his lawyer argue Rolling stoneversion of this encounter).

At one point, the reporter asks Depp what he thinks about all the “legal shenanigans.” The actor says, “I’m just a small part of it. It’s the fucking matrix. I haven’t seen the movie and I haven’t understood the script, but here’s what it is.

-Last summer, TMG filed a “thermonuclear lawsuit” which “described the actor as a spoiled brat with no pulse controlAnd that “Depp led an ultra-extravagant lifestyle that often knowingly cost Depp over $ 2 million a month, which he just couldn’t afford.” “

-The purchases listed by TMG “read as if Depp had given his wallet to a tween with ADD. There was $ 75 million for 14 residences. He spent $ 3 million to shoot the ashes of his friend Hunter S. Thompson into the sky from a cannon. Only $ 7,000 to buy her daughter a sofa from the set keeping up with the Kardashians. He bought some 70 guitars and 200 works of art, including Basquiats and Warhols, owned 45 luxury vehicles and spent $ 200,000 a month on private air travel.

Independent public relations

-On May 20, 2016, when Depp’s mother passed away, Depp’s wife Amber Heard asked a friend to call 911 to report that the actress was being beaten by Depp. Later, photographs of a bruised Heard have emerged. She filed for divorce two days later, and has received a reported payment of $ 7 million, the two signing nondisclosure agreements.

Of his self-proclaimed lack of involvement in his own affairs, Depp says:

“If there were things I could sign that would come up – and there would be every now and then – I would sign them like that,” Depp said, mimicking the signature of an imaginary paper with his right hand as his head swiveled far to the left, gazing into the darkness of London. “I don’t want to see what they are because I trust these people.”

Later, he grimaces, “Now I take a good look at everything I sign.”

Later Depp says, “If you don’t knowingly pay US government taxes, someone is going to catch up with you and hand you a bill and you will probably go to the pokey.”

Answer TMG’s lawyers:

“In 30 years in business, no current or former TMG customer has raised a problem except Johnny Depp, who continues to spread malicious and unfounded lies about the company. TMG will vigorously defend and defeat all claims made by Depp. “

-Said Rolling stone, “This spring has shown the dismay of Depp’s legal team. In April, the team announced that he was resigning and an obscure Orange County enterprise was taking its place. Three weeks later, Ben Chew, Depp’s chief litigator, reappeared and signed with Waldman again. In addition to his troubles, Depp is pursued by his American bodyguards for back pay, and they alleged they had to alert Depp to “illegal substances visible on his face and on his person” when he was in public. After many delays, Depp finally sat for a deposition on May 26. The trial is still scheduled for August. What happens next is a guess.

His future: Depp, the article says, “rambles on what he wants to do once the lawsuits are settled and justified.” There is a French book that he wants to adapt and direct. It is about a man who loses his wife, loses everything and then enters a retirement home when he is only in his forties. Depp says the book is called Happier days.


Share.

Comments are closed.