How these celebs handled their money during the month of July
Celebrities aren’t “just like us,” as entertainment magazines keep trying to convince their audience.
It’s especially true when it comes to money. Wearing sweatpants to the grocery store makes them normal; acquiring millions in debt in a few months makes them celebrities.
From actors struggling with similar financial troubles to musicians losing touch with reality, these 90s stars prove just how weird Hollywood’s other half lives…
Actor Johnny Depp: It’s a pirate’s life for him
It’s fitting that Johnny Depp not only plays a pirate on the big screen, but spends his money like one too.
Depp is suing his business managers Robert and Joel Mandel, and their firm The Management Group, for $25 million, Vanity Fair says. In turn, the Management Group claimed Depp has a “selfish, reckless, and irresponsible lifestyle” that is to blame for his financial state.
The actor claims the firm acted negligently and committed fraud while managing his finances, among other allegations.
Adam Waldman, Depp’s lawyer, said the actor had to borrow tens of millions to cover his costs following the firm’s alleged mismanagement.
While Depp has made $650 million in the 17 years he’s worked with the firm, he’s supposedly been living “giant paycheck to giant paycheck.”
He was spending $2 million a month by 2013, the firm alleges. His expenses range from his 156-foot yacht to 12 storage facilities to wine flown in from around the world. He also spent $5 million blasting late journalist Hunter S. Thompson’s ashes from a custom-built cannon.
The actor’s 14 residences, including a French château and a four-island chain in the Bahamas, are part of his monthly costs as well.
Despite this, a Los Angeles judge ruled Depp’s lavish spending is not relevant to the case earlier this month.
Conclusion: Depp is upset with his business managers for letting him buy not one, but several islands.
Actress Alyssa Milano: Charmed… and broke
Like Depp, former “Who’s the Boss?” child star and “Charmed” actress Alyssa Milano is butting heads with her former business manager.
Milano filed a $10 million suit against business manager Kenneth Hellie and his firm, Hellie, Hoffer & Co., says Variety.
Milano alleges Hellie didn’t pay bills and taxes, forged her signature on checks, and persuaded her to make bad investments. This ruined her credit and put her millions in debt, according to the suit.
The actress is also claiming Hellie’s mismanagement of her California home renovations cost $5 million, even though the home is worth $3 million now.
Milano said that because of her poor credit, she can’t afford to refinance her house, says Variety. On top of this, she claims she wasn’t aware of her debt and turned down “lucrative projects.”
Meanwhile, Hellie claimed this month that Milano and her husband lived “lavishly” during the renovations.
While Hellie wouldn’t get into the specifics, he told Variety: “Obviously a lot of it’s like the Johnny Depp situation.”
Both sides will meet in court this October.
Conclusion: Unlike Depp, Milano isn’t blaming her spending on others. But, it’s difficult to believe someone who plays dumb upon finding out they’re millions of dollars in debt.
Rapper DMX: Feds gon’ give it to him
DMX has been arrested more than 20 times since 1998, never serving more than a year in prison for each charge. Sometimes it was for assault, other times for robbery. Until now, nothing has stuck.
But when you mess with Uncle Sam, it’s different. The rapper faces up to 44 years in federal prison for alleged income tax evasion, says Forbes.
The Internal Revenue Service claims DMX, real name Earl Simmons, owes $1.7 million in taxes — and that’s just for 2002-05. The government agency says he also failed to file tax returns for the $2.3 million he allegedly made from 2010-15.
Made famous by hits like “Where The Hood At” and “X Gon’ Give It To Ya,” Simmons has been charged by the IRS with 14 counts of tax evasion.
Acting U.S. Attorney Joon H. Kim will oversee the case while IRS special agent James D. Robnett will carry out the investigation. The two announced Simmons’ arrest July 13.
Kim said Simmons dodged taxes by “avoiding personal bank accounts, setting up accounts in others’ names and paying personal expenses largely in cash.” And the formal federal charge, U.S. v. Earl Simmons Indictment, says he’s been doing this for 15 years.
Simmons’ case is postponed until Aug. 1, according to CNN Money.
It’s fascinating how Simmons avoided lengthy prison stays for so many years. He’s faced charges from animal cruelty to drug possession to reckless driving, and always seemed to get out of it.
And yet, for tax evasion, he’s facing nearly half a century in prison.
Conclusion: The IRS may be the only one more concerned with holding on to its money than DMX.
Singer Donnie Wahlberg: New kids at the Waffle House
When celebrities publicize their good deeds on social media, it’s hard to believe they’re interested in anything besides shameless self-promotion.
New Kids On The Block member Donnie Wahlberg left a $2,000 tip at a North Carolina Waffle House and posted the event to Facebook, says CNN Entertainment.
Donnie, the older brother of Mark Wahlberg, stopped at the chain July 12 while touring with the 90s boy band. While waiting for his food, he streamed himself via Facebook Live telling a fan he would give her backstage passes and tickets.
Later that night, he posted to Facebook a photo of the check that totaled $82.60 without the tip, as well as a selfie with Waffle House employees and fans.
He captioned it: “My mom waited tables, and my dad tended bars– for years! So, when I walk into a #WaffleHouse, and the staff treats me like a king, you better believe I treat them like queens! Thanks to the team at @wafflehouseofficial Charlotte, NC! <3️”
Conclusion: Wahlberg tipped an amount equal to two paychecks for a Waffle House server, as well as the cost of 667 waffles. No one said he was supposed to be relatable.
Article last modified on August 3, 2017. Published by Debt.com, LLC .