Johnny Depp is taking out a $10 million loan to refurbish his massive West Hollywood mansion!
Vanessa Paradis’ ex has reportedly decided to shell out a whopping $10 million to renovate his palace-like residence located in West Hollywood.
Johnny Depp, who recently returned to Hollywood with his latest film “Jean du Barry”, may have obtained a loan to renovate this property, which he acquired in 1995 for $2.15 million .
The once majestic but now dilapidated haveli has tall trees and broken turrets. This residence is in need of a thorough transformation to restore it to its former glory.
According to The Mirror, the ‘Alice in Wonderland’ actor was forced to apply for a loan from City National Bank, dubbed ‘the bank to the stars’ because of its privileged relationship with celebrities. The decision was reportedly taken in March 2022 after a costly legal battle with his ex-wife Amber Heard.
Indeed, in 2020, Johnny Depp was revealed to be in a precarious financial situation, having squandered an estimated $650 million of his cinematographic assets and accumulated $100 million in debt. He also paid $7 million to Amber Heard as part of the divorce settlement and $2 million for the countersuit.
However, in June 2022, Johnny Depp won his legal battle against Amber Heard, winning $10 million in compensatory damages and an additional $5 million in punitive damages. A victory that today allows them to consider a new phase in the renovation of their luxurious residence.
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