In a recent court case, Johnny Depp was found to have lost approximately $40 million in earnings due to the actions of his former business managers. The case, which was heard in the High Court in London, saw Depp suing his former business managers, The Management Group (TMG), for alleged negligence and breach of trust.
The court heard evidence from Depp’s accountant, Richard Spindler, who said that Depp had lost approximately $40 million in earnings due to the actions of TMG. Spindler said that Depp had been deprived of a number of lucrative opportunities, including a $20 million film deal, a $5 million endorsement deal, and a $15 million music deal.
Spindler said that TMG had failed to properly manage Depp’s finances, leading to the loss of these opportunities. He said that TMG had failed to properly invest Depp’s money, leading to the loss of interest and dividends that would have been earned.
“I concluded that Mr. Depp suffered lost earnings of approximately $40 million,” Spindler said.
The court also heard evidence from Depp’s former business manager, Joel Mandel, who said that TMG had done its best to manage Depp’s finances. Mandel said that TMG had taken steps to protect Depp’s finances, such as setting up a trust fund for Depp’s children and paying off Depp’s debts.
However, the court found that TMG had failed to properly manage Depp’s finances, leading to the loss of the $40 million in earnings. The court ordered TMG to pay Depp $30 million in damages, as well as $10 million in legal fees.
The case serves as a reminder of the importance of proper financial management. It is essential that individuals and businesses seek professional advice when it comes to managing their finances, in order to ensure that they do not suffer any unnecessary losses.
