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How world's highest-paid actor lost $650 million, spent $30K a month on wine, bought islands, faced $100 million debt
Once the world's highest-paid actor with a net worth of $900 million, this superstar blew it all away with his overspending, losing $650 million.
There was a time in the late 2000s and early 2010s when Johnny Depp could do no wrong. The actor was riding on the success of the Pirates of the Caribbean franchise, and has also been cast as Grindelwald in the Fantastic Beasts series. As a star of two billion-dollar franchise, his star was shining bright. He was the highest-paid actor in the world and one of the richest as well. But then it all went downhill, spiralling out in a way that left the Hollywood superstar on the verge of bankruptcy.
Johnny Depp's heyday in Hollywood
Making his debut as a teen heartthrob in the 80s, Johnny Depp worked his way up in Hollywood with critically acclaimed performances in the 90s in films like Edward Scissorhands, What's Eating Gilbert Grape, Ed Wood and Donnie Brasco. But it was the Pirates of the Caribbean series (starting in 2003) that made him a global superstar. He added Public Enemies and Finding Neverland to his repertoire. In 2012, the Guinness Book of World Records recognised him as the highest-paid actor in the world, with earnings of $75 million. After he was cast in the Fantastic Beasts series, it was expected to go even higher. Around 2014, Forbes estimated Johnny Depp's net worth at $900 million, making him one of the richest actors in the world.
How Johnny Depp lost $650 million
But his extravagant lifestyle and bad planning caught up with Johnny. By 2016, Johnny was facing a financial crisis. His net worth had come down to under $300 million, and was plummeting further. The actor sued his former business managers Robert and Joel Mandel, and their firm, the Management Group (TMG), seeking $25 million in damages for negligence, fraud, unjust enrichment, and breach of fiduciary duty, among other things. Depp claimed the managers had siphoned off funds and mismanaged his money.
TMG responded with a cross-complaint that called the actor 'spendthrift of epic proportions' and said he refused to control his 'selfish, reckless, and irresponsible lifestyle' despite warnings from his manager. The expenses were over $2 million a month, TMG claimed, including $30,000 a month on wine 'flown to him around the world'. Other big purchases included private islands and jewellery worth millions. TMG claimed that his exorbitant spending cost the actor more money than he was earning. In his legal battle against ex-wife Amber Heard, Johnny Depp admitted that he lost over $650 million in net worth over time. At one point, the actor had even incurred debts of over $100 million.
Johnny Depp today
Johnny Depp is attempting a comeback today after his financial troubles and long legal battle with Amber Heard. As per Variety, his net worth is now a relatively modest $150 million. The 61-year-old is currently filming Marc Webb's Day Drinker, which will be releasing in 2026. The film also stars Penélope Cruz and Madelyn Cline.
