The real estate behind Johnny Depp’s legal woes
While actor Johnny Depp prepares for the release of his upcoming “Pirates of the Caribbean” film, another script is starting to unravel in the star’s personal life.
Depp is embroiled in a legal spat with his former business managers over lost fortunes totaling $650 million — the most quantifiable aspect of which is his massive real estate portfolio.
The actor filed a suit earlier this year against the Management Group (TMG) and attorneys Joel and Robert Mandel alleging financial misconduct. But TMG countersued alleging that Depp failed to pay its commission on his income from the new “Pirates” film and that the celebrity is “responsible for his own financial waste,” the Hollywood Reporter reported.
Mandel insisted Depp sell his 45-acre chateau in the South of France in May 2015 to help pull the actor out of debt. The property was listed for $27 million, twice Sotheby’s valuation, but ex-partner Vanessa Paradis and their daughter Lily-Rose Depp urged Depp to change his mind. The property was taken off the market, but it has since been relisted for $39 million, according to THR.
The actor owns five homes in the Hollywood Hills, worth an estimated $19 million. He has sold two of his five penthouse lofts in the Eastern Columbia Building in downtown Los Angeles for $5.6 million with the remaining three worth about $6.5 million, according to THR.
Depp also owns an atoll in the Bahamas and a hamlet in France. Together his properties are worth between $50 to $60 million. [THR] — Subrina Hudson