Johnny Depp left broke after losing $650m movie fortune

[Smith1776]

The ongoing saga of Johnny Depp is... ongoing. It's all too common but always sad to see someone accumulate a great fortune through their work and passion, only to lose it through their own actions.

Top that off with (now apparently false) accusations of violence towards former spouse Amber Heard, and you are left wondering whether life as a superstar like him is really better than that of an "average Joe".

https://www.mirror.co.uk/3am/celebrity- ... irror_main

Hollywood actor Johnny Depp told a court today that he was left broke after losing his $650 million fortune from the Pirates of The Caribbean movies and wracking up massive debts due to unpaid tax bills

[yankees60]

The ongoing saga of Johnny Depp is... ongoing. It's all too common but always sad to see someone accumulate a great fortune through their work and passion, only to lose it through their own actions.

Top that off with (now apparently false) accusations of violence towards former spouse Amber Heard, and you are left wondering whether life as a superstar like him is really better than that of an "average Joe".

https://www.mirror.co.uk/3am/celebrity- ... irror_main

Hollywood actor Johnny Depp told a court today that he was left broke after losing his $650 million fortune from the Pirates of The Caribbean movies and wracking up massive debts due to unpaid tax bills

I heard today that Mike Tyson at his peak was worth in the high 600's millions. Now he's worth $3 million.

Vinny

[Smith1776]

I heard today that Mike Tyson at his peak was worth in the high 600's millions. Now he's worth $3 million.

Vinny

Maybe we can get him to join the forum and adopt a simple, safe, and stable investment strategy!

[Tortoise]

When you wake up from a drunken stupor with melted ice cream in your lap and realize you've hit a new low:

[Smith1776]

When you wake up from a drunken stupor with melted ice cream in your lap and realize you've hit a new low:

At first I was confused as to why you were linking a picture to some random guy in this thread. Then I was like "holy shit".

Depp is really a cautionary tale that financial mismanagement can ruin even the largest fortune in a shockingly short period of time. When I was growing up I remember hearing from my parents that it's not about how much you make, it's about how much you keep. Man, this guy exemplifies that.

I've always heard numerous times about the archetype of rags to riches to rags again. The first generation makes it. The second spends it. The third has to go out and make it again. Depp compressed that into a few decades.

[dualstow]

...
It's all too common but always sad to see someone accumulate a great fortune through their work and passion, only to lose it through their own actions.

I often think about MC Hammer. When he had a dishwasher and plumbing installed in his bedroom so that he could put his ice cream dish away -- speaking of ice cream -- without going all the way to the kitchen before bed, that might have been the point where his friends should've told him to slow down.

[Tortoise]

At first I was confused as to why you were linking a picture to some random guy in this thread. Then I was like "holy shit".

Yup, it's Depp! I thought the arm tats would give it away, but I probably should have been a bit more obvious.

The sad thing about that photo is that it was taken by his wife, Amber Heard, one day when she found him like that and wanted to rub it in his face how "disgusting" he had become. I don't know if she always planned to release the photo publicly to humiliate him, but... she eventually did.

Depp has some major flaws, but Amber Heard isn't exactly a saint, either. She doesn't sound like a keeper.

[Smith1776]

Another big problem with all of these 'sad' Hollywood and athlete poverty stories is divorce. Even otherwise smart people can have their finances devastated by having to give half or more of it away. Ask me how I know.

Too true.

A related story is that of Olympic athlete Ryan Lochte. https://www.cnbc.com/2019/11/13/ryan-lo ... check.html

Lochte says he went from making “well over $1 million” a year to earning $75,000 from a single sponsor. When Rodriguez met up with him, he and his wife had already downsized from a 4,200 square-foot home to an 1,800 square-foot apartment, but Lochte was still spending beyond his means and was quickly headed into debt. He estimated he had about $20,000 in savings, though he admitted that he hadn’t looked at his bank account in two years.

What kind of psychological predisposition leads a person to not look at their bank account in two years.

[Kriegsspiel]

It's probably pretty fun to "lose" $650 million dollars, so we shouldn't feel too bad for him.

I'm glad you guys clarified that picture. I was about to compliment Tortoise on his dope suspenders. I mean, those alone are only 0.00000003% of that $650 million, but they probably added tons of pleasure to Johnnie's life. Think about how much more hookers and cocaine add.

[Libertarian666]

Depp is really a cautionary tale that financial mismanagement can ruin even the largest fortune in a shockingly short period of time. When I was growing up I remember hearing from my parents that it's not about how much you make, it's about how much you keep. Man, this guy exemplifies that.

I've always heard numerous times about the archetype of rags to riches to rags again. The first generation makes it. The second spends it. The third has to go out and make it again. Depp compressed that into a few decades.

Most actors and athletes aren't very intelligent, and many of them also have very high time preference.
That is a recipe for disaster when you make a lot of money for a relatively short time.

[dualstow]

It's probably pretty fun to "lose" $650 million dollars, so we shouldn't feel too bad for him.

I'm glad you guys clarified that picture. I was about to compliment Tortoise on his dope suspenders. I mean, those alone are only 0.00000003% of that $650 million, but they probably added tons of pleasure to Johnnie's life. Think about how much more hookers and cocaine add.

{ insert voice mail from Entertainment Tonight’s Pat O’Brien }

we’ll get some cocaine and some hookers
\you are so *bleep* hot

[yankees60]

Depp is really a cautionary tale that financial mismanagement can ruin even the largest fortune in a shockingly short period of time. When I was growing up I remember hearing from my parents that it's not about how much you make, it's about how much you keep. Man, this guy exemplifies that.

I've always heard numerous times about the archetype of rags to riches to rags again. The first generation makes it. The second spends it. The third has to go out and make it again. Depp compressed that into a few decades.

Most actors and athletes aren't very intelligent, and many of them also have very high time preference.
That is a recipe for disaster when you make a lot of money for a relatively short time.

They are actually no different than lottery winners who come into money at a young age and who are not equipped to deal with such a large sum of money.

All actors and athletes are playing the lottery game. There are tons of them who spend their youth trying to "make it". An extreme huge percentage of them never do. The ones we know of are the the tiny, tiny, tiny percentage who did "make it" and, thereby, hit the lottery. There is not always a vast difference in talent between those who did "make it" and those who did not. Definitely talent and hard work involved but also "luck" and being in the right place at the right time. Somewhat similar to having the winning lottery ticket.

Vinny

[Libertarian666]

Depp is really a cautionary tale that financial mismanagement can ruin even the largest fortune in a shockingly short period of time. When I was growing up I remember hearing from my parents that it's not about how much you make, it's about how much you keep. Man, this guy exemplifies that.

I've always heard numerous times about the archetype of rags to riches to rags again. The first generation makes it. The second spends it. The third has to go out and make it again. Depp compressed that into a few decades.

Most actors and athletes aren't very intelligent, and many of them also have very high time preference.
That is a recipe for disaster when you make a lot of money for a relatively short time.

They are actually no different than lottery winners who come into money at a young age and who are not equipped to deal with such a large sum of money.

All actors and athletes are playing the lottery game. There are tons of them who spend their youth trying to "make it". An extreme huge percentage of them never do. The ones we know of are the the tiny, tiny, tiny percentage who did "make it" and, thereby, hit the lottery. There is not always a vast difference in talent between those who did "make it" and those who did not. Definitely talent and hard work involved but also "luck" and being in the right place at the right time. Somewhat similar to having the winning lottery ticket.

Vinny

Yes, those two circumstances are essentially identical.
As a general rule, only those who don't need to win the lottery can handle it if they do win, regardless of the type of lottery involved.

[Smith1776]

As a general rule, only those who don't need to win the lottery can handle it if they do win, regardless of the type of lottery involved.

Let's call this "Libertarian666's Maxim".

[yankees60]

Yes, those two circumstances are essentially identical.
As a general rule, only those who don't need to win the lottery can handle it if they do win, regardless of the type of lottery involved.

Somewhat ties into deciding who will inherit from you.

Those who will put it to best use probably don't need it because they are already doing well.

And, those who "need" it need it because of the way they've lived their lives and made decisions, which means they will also fairly quickly squander anything they inherit from you.

Vinny

[Libertarian666]

Yes, those two circumstances are essentially identical.
As a general rule, only those who don't need to win the lottery can handle it if they do win, regardless of the type of lottery involved.

Somewhat ties into deciding who will inherit from you.

Those who will put it to best use probably don't need it because they are already doing well.

And, those who "need" it need it because of the way they've lived their lives and made decisions, which means they will also fairly quickly squander anything they inherit from you.

Vinny

Exactly.

I'm leaving everything to my wife if I die before her.

Otherwise it's mostly going to Judicial Watch and other charities that are doing good work.

One of my brothers has been pretty nice to me, so he'll get a chunk. He's been reasonably good with money so I don't think he'll blow it.
The other one is insane and vicious to me, so he gets nothing.

[Libertarian666]

As a general rule, only those who don't need to win the lottery can handle it if they do win, regardless of the type of lottery involved.

Let's call this "Libertarian666's Maxim".

That could be my second maxim.
The first one is that although theory and practice are identical in theory, they usually differ in practice.

[Mark Leavy]

That could be my second maxim.
The first one is that although theory and practice are identical in theory, they usually differ in practice.

Okay, tech, we've finally found your true identity!

yogi.jpg (7.3 KiB) Viewed 4131 times

We knew it had to be Yogi. Or Mark Twain. Or Abraham Lincoln.

[Mark Leavy]

Somewhat ties into deciding who will inherit from you.

Those who will put it to best use probably don't need it because they are already doing well.

And, those who "need" it need it because of the way they've lived their lives and made decisions, which means they will also fairly quickly squander anything they inherit from you.

Vinny

This is a real problem. The more I think about it, the more the Johnny Depp / Kriegspiel approach seems like the right way to go out.

[Libertarian666]

That could be my second maxim.
The first one is that although theory and practice are identical in theory, they usually differ in practice.

Okay, tech, we've finally found your true identity!
yogi.jpg

We knew it had to be Yogi. Or Mark Twain. Or Abraham Lincoln.

Yes, obviously. Why did it take so long?

[Tortoise]

In case any of you haven't read the Rolling Stone article from 2018 about Johnny Depp's trials and tribulations, it's definitely worth checking out:

The Trouble With Johnny Depp

There are a few things Depp insists TMG got wrong – for example, the $30,000 a month the Mandels claimed he spent on wine.

“It’s insulting to say that I spent $30,000 on wine,” says Depp. “Because it was far more.”

Depp says they got the Hunter S. Thompson cannon story wrong too. “By the way, it was not $3 million to shoot Hunter into the fucking sky,” says Depp. “It was $5 million.”

[yankees60]

Yes, those two circumstances are essentially identical.
As a general rule, only those who don't need to win the lottery can handle it if they do win, regardless of the type of lottery involved.

Somewhat ties into deciding who will inherit from you.

Those who will put it to best use probably don't need it because they are already doing well.

And, those who "need" it need it because of the way they've lived their lives and made decisions, which means they will also fairly quickly squander anything they inherit from you.

Vinny

Exactly.

I'm leaving everything to my wife if I die before her.

Otherwise it's mostly going to Judicial Watch and other charities that are doing good work.

One of my brothers has been pretty nice to me, so he'll get a chunk. He's been reasonably good with money so I don't think he'll blow it.
The other one is insane and vicious to me, so he gets nothing.

All seems logical.

Vinny