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Johnny Depp
Johnny Depp almost ruined by lavish spending: lawsuit
[LOS ANGELES] Johnny Depp's lavish spending - including US$3 million to blast author Hunter S Thompson's ashes from a cannon - led him to the brink of financial ruin, according to an explosive lawsuit filed Tuesday.
Over the best part of two decades, the 53-year-old actor has been spending US$2 million a month, according to The Management Group (TMG), which is suing the star in Los Angeles for an unpaid loan.
The "Pirates of the Caribbean" actor is alleged to have forked out US$75 million on 14 homes, including a 45-acre (18-hectare) French castle, a chain of Bahaman islands, several Hollywood homes, penthouse lofts in downtown LA and a horse farm in Kentucky.
Since 2000, the Oscar-nominated actor has spent US$18 million on a yacht, bought 45 luxury cars and shelled out almost US$700,000 a month on wine, private planes and a staff of 40 people, according to the lawsuit.
Beverly Hills-based TMG says Depp has accrued more than 200 artworks by Warhol, Klimt and other masters, 70 collectible guitars and a Hollywood memorabilia collection so extensive it is stored in 12 locations.
Depp filed his own US$25 million suit on Jan 13 accusing TMG of mismanaging his finances, taking out loans without his approval, and concealing his ruinous finances.
"Over 17 years, The Management Group did everything possible to protect the actor from himself," TMG attorney Michael Kump said in a statement.
"In fact, when Depp's bank demanded repayment of a multimillion-dollar loan and Depp didn't have the money, the company loaned it to him so that he would avoid a humiliating financial crisis."
TMG says it repeatedly warned Depp over his "wanton" overspending, but he responded by rebuking his business managers, increasing his spending and demanding they find some way to pay for it.
The firm, fired by Depp last year, says it is owed US$4.2 million and was forced to launch foreclosure proceedings on Depp's property.
"The only reason Depp filed this lawsuit was to interfere with TMG's ongoing efforts to be repaid on the loan they had made to bail him out," TMG said.
Depp and actress Amber Heard, 30, reached an out-of-court settlement in August to end their 18-month marriage, agreeing that he would pay her US$7 million.
AFP
Leonard
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NBA’s Kawhi Leonard Has $94 Million Contract But Lives in Two-Bedroom Home, Drives ’97 Chevy Tahoe
Kawhi (pronounced like the Hawaiian island) Leonard plays for the NBA’s San Antonio Spurs. In the age of Stephen Curry, many people forget about players like Leonard, even if they do command $94 million contracts.
Per the March 2016 Sports Illustrated, “he was named Finals MVP in 2014, captured Defensive Player of the Year in ’15 and this season seized the unofficial title of best two-way player in the NBA.”
If you don’t follow the Spurs, you may not be familiar with Kawhi Leonard. He doesn’t care, and it’s not false humility. He simply doesn’t go for the glitz and glamour and doesn’t feel the need to hog the spotlight. He just wants to play ball. In an interview with Sports Illustrated, Leonard explained, “I don’t like to bring attention to myself. I don’t like to make a scene….I could be on the court for two hours and it felt like 10 minutes. It made time go by.”
Don’t think that he plays ball because he can’t do anything else, though. Leonard loves math and spent two years at San Diego State University before he was selected as the15th overall pick in the 2011 NBA draft. And how have those math skills paid off? The Root notes that he “spends his summers in a two-bedroom apartment in San Diego…[and] drives a rehabbed ’97 Chevy Tahoe, nicknamed Gas Guzzler.” Why? He told SI, “It runs, and it’s paid off.”
While other stars are buying mansions, collecting luxury cars, and dropping “Benjamins” at the casino while bathing in Cristal, Leonard enjoys his modest lifestyle and prefers his unlimited supply of wings from his Wingstop sponsor…and he isn’t too proud to use his free coupons even if he is pulling in over $20 million a year.
Thoughts
2 Superstar but with different outcome
It is never how much you make
Income - Expense = -Ve : Route to financial Ruin
Income - Expense = +Ve Route to financial stability
Income - Expense = +Ve (reinveste +ve) Route to financial independence
