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Johnny Depp's Money Woes Are Just Beginning

  • Johnny Depp has parted ways with his longtime agent, Tracey Jacobs of U.T.A., citing financial concerns, reports Page Six, and has signed a new contract with rival agency C.A.A., which offered him a more favorable deal as he copes with the fallout from an ugly and very public divorce.

News of Depp’s move surfaced after other reports of Depp’s money struggles, including the news that he can no longer sustain his $2 million a month lifestyle.

In January, Depp sued his former management team, including the Management Group and 15 other defendants, for “gross misconduct,” claiming his business managers “collected tens of millions of dollars of contingent fees.” Depp is seeking $25 million in damages. Last week, the Management Group countersued Depp for living an “ultra-extravagant lifestyle that often knowingly cost Depp in excess of $2 million per month to maintain, which he simply could not afford.”

© By Christopher Polk/Getty Images.

The business managers broke down Depp’s massive expenses, from the $30,000 a month he spends on wine to the millions he has spent on the upkeep of his 14 properties around the world, including a chateau in the south of France and horse farm in Kentucky. The Management Group reported that the total maintenance costs of these properties was more than $75 million over the course of 17 years.

After his highly publicized divorce from actress Amber Heard, Depp began to shed some of his pricey homes. He put his Venetian mansion on the market for $10.9 million in July and his compound in Plan De La Tour, France, was re-released on the market for $63 million in December. Depp’s French property first went on sale in 2015 for $25 million.

As for Depp’s split from U.T.A. and Jacobs, an inside source told Page Six, “Their relationship had run its course.”

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Frederick Damasus is an IT Enthusiast and Network Administrator with keen interest for internet and social media marketing. He previously worked as Monitoring and Evaluation/IT Officer for CCDS on USAID/PIND/RTI LEAD Project. Currently he does systems and networking consultation, logo designs, blogs and content promotion.

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