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Jonny Depp- where'd the money go?

I really don't understand how people can lose so much money. I mean, I may be a simple man, but if someone handed me a billion dollars tomorrow, I still would have no desire for a 30,000 square foot house, 25 exotic cars, nor to drink champagne that costs thousands per bottle.
 
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Maybe something like this?
 

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Huntn said:
It's been reported he was spending $20 million a month, and his star is fading.

OFF THE DEPP END
Johnny Depp is ‘so broke he has fired his long time manager and struck a deal with a rival agency’
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I think you are off by a few the article says 1.6 million pounds a month. However I wouldn't be surprised if he did go through a 20 million in a month!

mobilehaathi said:
$20m/mo? Surely he accumulated some assets in the process.....
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Depp allegedly spent over £60million spent on 14 properties, £14 million on a luxury yacht, and £24,000 per month on wine.

Looks like he as a few properties.
 
rhett7660 said:
I think you are off by a few the article says 1.6 million pounds a month. However I wouldn't be surprised if he did go through a 20 million in a month!



Depp allegedly spent over £60million spent on 14 properties, £14 million on a luxury yacht, and £24,000 per month on wine.

Looks like he as a few properties.
Click to expand...
Yeahhhh, there we go. Anyone who spends that kind of money would have a really hard time not accumulating assets. Broke my ass.
 
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rhett7660 said:
I think you are off by a few the article says 1.6 million pounds a month. However I wouldn't be surprised if he did go through a 20 million in a month!



Depp allegedly spent over £60million spent on 14 properties, £14 million on a luxury yacht, and £24,000 per month on wine.

Looks like he as a few properties.
Click to expand...

The $20M a month was from another source my wife reads. I too questioned her about the amount, seems high, but whatever it is, it sounds like he's broke or relatively broke. 😉
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samiwas said:
I really don't understand how people can lose so much money. I mean, I may be a simple man, but if someone handed me a billion dollars tomorrow, I still would have no desire for a 30,000 square foot house, 25 exotic cars, nor to drink champagne that costs thousands per bottle.
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I think people slide into it. Once what was obscene before becomes reasonable, say spending $10k on a purse because that's become small change to them. The issue is that they loose perspective thinking they have a self perpetuating mountain of gold that seemingly vanishes on them overnight and they are surprised. 😳 Another good example might be Nicolas Cage who went on a real estate buying binge and over extended himself. It did not help he was buying his properties during the bubble (I think).
 
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Huntn said:
The $20M a month was from another source my wife reads. I too questioned her about the amount, seems high, but whatever it is, it sounds like he's broke or relatively broke. 😉
[doublepost=1486527183][/doublepost]

I think people slide into it. Once what was obscene before becomes reasonable, say spending $10k on a purse because that's become small change to them. The issue is that they loose perspective thinking they have a self perpetuating mountain of gold that seemingly vanishes on them overnight and they are surprised. 😳 Another good example might be Nicolas Cage who went on a real estate buying binge and over extended himself. It did not help he was buying his properties during the bubble (I think).
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I wonder how much of this is people who went from nothing to having stupid money, and thus they don't know how to manage it.

I guess i'm just too practical. I couldn't justify spending $10,000 on a handbag, no matter how much money I had. I don't come from big money, but we lived fairly nicely. And my dad's circle of friends were the wealthiest of our city. The millionaire lifestyle just doesn't appeal to me, so I wouldn't see myself falling into that trap.
 
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A couple private jets and yachts will do it. Those costs more to maintain than the assets itself.
 
heehee said:
A couple private jets and yachts will do it. Those costs more to maintain than the assets itself.
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I think that's another reason I wouldn't find myself with all that stuff. The headache of maintaining large houses, cars, planes, boats, etc etc etc. Yes, oftentimes you pay someone to do it. But then you have to worry about that person. My goal is to have a life free from worry, not filled with things that I need to worry about.
 
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Huntn said:
Sometimes I wonder when they say broke, do they really mean it or is it a relative description referencing a restriction in life style as compared to before? That applies to both him and Nicolas Cage.
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Yeah I always wondered about that.

Millionaire "broke" must be different from normal people "broke" 🙂

Also... when they say he spent £60 million on 14 properties and £14 million on a luxury yacht... was that all in cash? As in... he paid for it all in full... and is not paying a monthly mortgage on the properties or making boat payments?

If so... then he owns them all free and clear... and can sell them to get some cash back. You can't really be "broke" if you own assets like that.

Though I cringe at the thought of writing a £14 million check for ANY single purchase like a yacht. But that's something I don't ever have to worry about 😀
 
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