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<ul class="summary-list"><li><keyword id="12154119" type="UNKNOWN" weightage="60" keywordseo="johnny-depp" source="Orion">Johnny Depp</keyword>'s former money manager <keyword id="13980044" type="UNKNOWN" weightage="60" keywordseo="joel-mandel" source="Orion">Joel Mandel</keyword> testified about some of the actor's spending habits.</li><li>He said Depp spent hundreds of thousands of dollars a month on employees and wouldn't curb spending.</li></ul>Johnny Depp's former financial manager Joel Mandel detailed the actor's spending in testimony shown to jurors on Thursday, describing it as becoming increasingly irresponsible over the 17 years he worked with him.Mandel said Depp earned more than $600 million throughout that period of time, between 1999 and 2016.Around 2010, after Depp shot "The Rum Diaries," <a href="https://www.insider.com/johnny-depp-amber-heard-relationship-timeline-2020-7">the movie where he met Amber Heard</a>, Mandel said the spending levels became "very large." He said Depp consumed more alcohol and drugs than ever, and it became harder to talk with him about his <keyword id="11976454" type="UNKNOWN" weightage="60" keywordseo="finances" source="Orion">finances</keyword>."What I had always experienced as someone who liked to enjoy his wine at the end of his day became consumption that became excessive," Mandel said in the prerecorded deposition.Mandel said Depp's spending included the following:<ul><li>$100,000 every month to David Kipper, <a href="https://www.insider.com/johnny-depp-medical-testifies-finger-cut-off-amber-heard-trial-2022-4">a doctor Depp hired in 2014</a> to help treat addiction issues. Depp said he became dependent on opioid medication following a leg injury. Kipper also assigned one nurse to Depp and another to Heard.</li><li>$300,000 per month for a full-time staff that included Nathan Holmes, a former personal assistant; Kevin Murphy, a former property manager; and Stephen Deuters, another personal assistant who also worked on Depp's creative projects.</li><li>$10,000 every day to Jerry Judge, Depp's former security manager. Judge employed a team of guards and other security officials who guarded Depp around the clock.</li></ul><h2>Mandel and Depp settled a lawsuit in 2018</h2>Mandel's history with Depp is complicated. Depp fired him in 2016 and then sued his firm, alleging it had drastically mismanaged his finances. They <a href="https://variety.com/2018/biz/news/johnny-depp-management-group-1202874251/">settled the lawsuit in 2018</a>.Edward White, who Depp hired to audit his finances and who recommended he fire Mandel, testified earlier in the <keyword id="11899412" type="UNKNOWN" weightage="60" keywordseo="trial" source="Orion">trial</keyword>. He <a href="https://www.insider.com/amber-heard-divorce-demands-johnny-depp-apartments-lawsuit-court-2022-4">described what Heard requested during their divorce</a> and said <a href="https://www.insider.com/johnny-depp-amber-heard-rang-up-160k-wine-bill-accountant-2022-4">Heard contributed to a $160,000 wine bill</a> that had been amassed before the end of their marriage in 2016.Mandel's deposition, taken on January 22, was shown to jurors as part of Depp's lawsuit against Heard. Depp alleges Heard defamed him when describing herself as a victim of domestic violence in 2018, leading to him losing out on big movie roles. Heard has countersued, <a href="https://www.insider.com/makeup-artist-says-she-hid-amber-heards-bruises-split-lip-2022-5">alleging Depp physically assaulted her</a> before and during their marriage, often while he was under the influence of drugs or alcohol.Heard's attorneys subpoenaed Mandel's testimony for the lawsuit. Mandel said in his testimony that Depp refused measures to get his finances under control, including a plan to sell some of the various properties he owned around the world. He also seldom gave to charity, Mandel said."I don't recall writing large charity checks," Mandel said. "It was more his style to show up at an event or lend his name something rather than write a check."Tracey Jacobs, Depp's former talent agent, who represented him for more than two decades, also took a deposition for the case, <a href="https://www.insider.com/johnny-depp-agent-to-kill-london-fields-amber-heard-nudity-2022-5">which was shown to jurors before Mandel's testimony</a>. She said Depp's "star had dimmed" over time because of his reputation for being difficult to work with."It had become harder to get him jobs due to the reputation he acquired due to his lateness and other things," Jacobs said.

Johnny Depp spent $100,000 per month for an addiction doctor and $10,000 a day on security, fired money manager testifies

<ul class="summary-list"><li><keyword id="12154119" type="UNKNOWN" weightage="60" keywordseo="johnny-depp" source="Orion">Johnny Depp</keyword>'s former agent said he demanded $20 million from his talent agency in 2016.</li><li>The former agent, Tracey Jacobs, testified in the defamation trial involving Depp and <keyword id="12154120" type="UNKNOWN" weightage="60" keywordseo="amber-heard" source="Orion">Amber Heard</keyword>.</li></ul>Johnny Depp's former agent said in court testimony that during the height of his financial woes the star demanded a $20 million handout from his agency."He just expected us to do it," said Tracey Jacobs, a talent manager at United Talent Agency.Jacobs, who worked with Depp for 30 years, spoke in a prerecorded deposition seen by jurors on Thursday as part of the <a href="https://www.insider.com/johnny-depp-amber-heard-relationship-timeline-2020-7">defamation trial involving Depp and his ex-wife Amber Heard</a>.Jacobs said that in January 2016, Depp came to UTA "in financial desperation."Joel Mandel, Depp's former money manager, also <a href="https://www.insider.com/johnny-depp-spending-habits-detailed-fired-money-manager-testimony-2022-5">said in a deposition on Thursday</a> that the actor had made more than $600 million from 1999 to 2016.Mandel described Depp as spending exorbitantly on things like security, private doctors, and in-house staff. Depp settled a case with Mandel in 2018 after accusing him of mishandling his money.Asked to confirm whether Depp had asked the agency to get him $20 million, Jacobs said: "Actually, it was 'I want you to give me $20 million.' It was not discussed — the question was not asked as a loan."Jacobs continued: "He felt that he had made a lot of money for us and that we should just do it because of how much money he had made over the duration of his being at UTA."You can see some of her testimony here:Jacobs said the agency initially refused but eventually managed to organize a loan for Depp through Bank of America. "We're not a bank," she said."It was very helpful to him," Jacobs added.Depp fired UTA and Jacobs in October 2016, <a href="https://variety.com/2022/film/news/johnny-depp-amber-heard-tracey-jacobs-uta-joel-mandel-1235272150/">Variety reported</a>.By then, <a href="https://www.insider.com/johnny-depp-star-had-dimmed-needed-earpiece-former-agent-says-2022-5">Jacobs said, "his star had dimmed"</a> because of frequent lateness and drunkenness on set. A lawsuit against Depp in 2017 described his lifestyle as costing him about $2 million a month, <a href="https://www.vanityfair.com/style/2017/02/johnny-depp-2-million-a-month-lifestyle">Vanity Fair reported</a>.Depp is suing Heard in a $50 million defamation case, alleging that her <a href="https://www.washingtonpost.com/opinions/ive-seen-how-institutions-protect-men-accused-of-abuse-heres-what-we-can-do/2018/12/18/71fd876a-02ed-11e9-b5df-5d3874f1ac36_story.html">op-ed article about the #MeToo movement published in The Washington Post in 2018</a> hurt his reputation so badly that he fell out of favor with Hollywood.Heard, who did not directly mention Depp in the article, filed a $100 million countersuit.

Johnny Depp's former agent says he demanded a $20 million handout during his financial woes in 2016, arguing he had made the agency a fortune

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Shayanne Gal/Business InsiderBehind social <keyword id="6354777" type="COMPANY" weightage="60" keywordseo="Media">media</keyword> outrage directed at CVS was a business dispute between the birth-control company Pill Club and CVS's Caremark unit.</div></div></div><ul class="summary-list"><li>A <a href="https://www.businessinsider.com/pill-club-fight-with-cvs-caremark-over-reimbursement-for-birth-control-2019-8">viral backlash</a> erupted last week against CVS. The social media conversation framed CVS as a massive corporation bent on obstructing women's access to contraception.</li><li>Behind this social media outrage was a business dispute between the upstart birth-control-delivery company Pill Club and CVS's Caremark unit.</li><li>When CVS moved to change its rates for online pharmacies like Pill Club, the startup <a href="https://www.businessinsider.com/pill-club-fight-with-cvs-caremark-over-reimbursement-for-birth-control-2019-8">took the disagreement to social media.</a></li><li>The campaign Pill Club engineered with the help of a marketing firm and a controversial physician may have appealed to the politicized outrage over women's health and the actions of big companies that has emerged under President Donald Trump.</li><li>But Pill Club is also one of many companies offering a similar service, and the others are not disputing the new rates. </li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories.</a></li></ul>The first <a href="https://twitter.com/minimandel1/status/1161766477072084997">tweet</a> came from Emily Mandel, a recent college grad working as an engineer in Nebraska. Mandel had just moved there and was running out of her prescription for birth control when she tried out a new delivery service for the medication.Called Pill Club, the company she uses is one of a crop of new startups aiming to make it more convenient for <a href="https://www.guttmacher.org/fact-sheet/contraceptive-use-united-states">millions of American women</a> to buy contraceptives like birth control pills. While Mandel was interacting with Pill Club on Instagram, the company shared information that alarmed her. Pill Club told her that a change from pharmacy giant CVS would make it more costly for women to get birth control delivered, and the startup asked Mandel to help raise awareness, she told Business Insider by phone. The two representatives that Mandel spoke with said her tweet could go viral - and it did. Mandel sent a tweet in the evening of August 14 calling on CVS to take its "hands off my birth control." She noted the medical reasons she takes contraceptives: to avoid ovarian cysts bursting and painful periods. By August 15, Mandel's <a href="https://twitter.com/minimandel1/status/1161766477072084997">post</a> was one of many chastising CVS using the hashtag, #CVSDeniesCare. It, and then another hashtag, #BoycottCVS, trended that day, lifted by the social media accounts of people like the <a href="https://twitter.com/ilyseh/status/1162009446442242053">president of the pro-abortion-rights advocacy group NARAL</a>, social justice writer <a href="https://twitter.com/shaunking/status/1162012314800984066">Shaun King</a> and <a href="https://twitter.com/cmclymer/status/1162076654770040832">Charlotte Clymer</a>, a press secretary at the Human Rights Campaign.Mandel has about 180 followers on Twitter, but the video in her Tweet has been watched 542,800 times. The tweet itself got 12,100 likes. <h2>Pill Club initially denied it was involved with the social media uproar</h2>Publicly, Pill Club put out a <a href="https://thepillclub.com/access-matters/cvs-caremark">statement</a> saying, "CVS, don't take away access to birth control." The startup told reporters that CVS was planning to cut its payment rates, while initially denying that it was involved with the social media uproar.It appeared to be a classic tale of an underdog battling a huge incumbent. Pill Club is valued at about $250 million, according to PitchBook, while CVS Health has a market value of about $80 billion. Behind the scenes, the startup was coordinating a campaign, with the help of a marketing firm and the controversial, social-media-famous doctor Eugene Gu, according to two early participants in #CVSDeniesCare.After Business Insider presented the startup with evidence of its involvement, Pill Club confirmed that it "launched this campaign by alerting our patients and allies about CVS's payment changes." Whether Pill Club specifically suggested the hashtag is unclear.Pill Club's efforts to win better reimbursement rates from CVS spawned more than 110,000 mentions across Twitter over the course of 24 hours, according to data compiled by Blast Media, and spread false information about who might be affected and what the stakes were like wildfire. Pill Club had sparked what became a <a href="https://www.businessinsider.com/pill-club-fight-with-cvs-caremark-over-reimbursement-for-birth-control-2019-8?utm_source=twitter&amp;utm_medium=referral&amp;utm_content=topbar&amp;utm_term=desktop&amp;referrer=twitter">viral outrage</a>, focused on access to contraception and women's rights, making CVS just the latest company to <a href="https://www.businessinsider.com/equinox-soulcycle-face-backlash-over-chairmans-trump-ties-2019-8">face boycott threats</a> in the hyper-politicized era of the Trump administration. That put the pharmacy chain and health insurer in the company of corporations ranging from <a href="https://www.businessinsider.com/equinox-soulcycle-face-backlash-over-chairmans-trump-ties-2019-8">Equinox and SoulCycle</a> to <a href="https://www.businessinsider.com/home-depot-boycott-over-cofounder-bernie-marcus-donald-trump-donation-2019-7">Home Depot</a> and <a href="https://www.businessinsider.com/home-depot-boycott-over-cofounder-bernie-marcus-donald-trump-donation-2019-7">Papa John's</a>.Pill Club would not make anyone available to discuss the campaign. In response to a detailed request for comment from Business Insider, the startup sent a statement emphasizing its mission of empowering women through access to reproductive healthcare, and confirmed that it launched the campaign by alerting patients and allies about the CVS payment changes.CVS called Pill Club's accusations "extremely misleading" and "irresponsible" in a statement provided last week, and said they were geared at maximizing the startup's profits.Shannon Coulter, an advocate who has led <a href="https://www.businessinsider.com/trump-boycott-retailers-sell-trump-products-2017-1">boycotts of businesses</a> that work with President Donald Trump's family through a movement called <a href="https://grab-your-wallet.com/">Grab Your Wallet</a>, told Business Insider that "I don't know that I believe they're acting out of a concern for our access to birth control. I would have to have ample evidence of that one, and I don't have that yet. I have a lot of marketing messages."Read more: <a href="https://www.businessinsider.com/pill-club-fight-with-cvs-caremark-over-reimbursement-for-birth-control-2019-8?utm_source=twitter&amp;utm_medium=referral&amp;utm_content=topbar&amp;utm_term=desktop&amp;referrer=twitter">The strange tale of how a battle between 2 healthcare companies morphed into a viral Twitter backlash against CVS</a><h2>The makings of a viral campaign</h2>Another <a href="https://twitter.com/unapologeticalg/status/1161819475102109697">early tweet</a> about #CVSDeniesCare was sent by Gianna Fine, a marketing coordinator in South Carolina. Like Mandel, she is also a recent Pill Club customer who had been interacting with the startup on Instagram when it asked her to get the word out about CVS, Fine told Business Insider by phone.Customers like Fine and Mandel say they like Pill Club because of its convenience. Instead of going to a doctor's office for a birth control prescription, women can instead go online, share their birth-control preference and list any relevant health concerns.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Courtesy The Pill ClubPill Club mails birth control to its customers in "care packages" that include goodies like sweets and stickers.</div></div></div>That information is then reviewed by a doctor, who decides whether to write a prescription, and the birth control is sent to a customer's front door.Much of the frustration on social media about the Pill Club-CVS dispute comes from that: People on Twitter said that losing access to Pill Club would disproportionately hurt women who can't make it to the pharmacy, like those who live with disabilities or in rural areas. Many Twitter users also suggested that the CVS change would impact other services, with another major birth-control-delivery service, <a href="https://www.businessinsider.com/nurx-ceo-varsha-rao-strategy-after-new-york-times-investigation-2019-5">Nurx</a>, getting explicit mention. A Nurx spokesperson told Business Insider that the company doesn't have anything to share around interruptions with its service.Read more:<a href="https://www.businessinsider.com/nurx-ceo-varsha-rao-strategy-after-new-york-times-investigation-2019-5"> The CEO of $111 million birth control startup Nurx told us how she's charting a new path forward after a scorching New York Times exposé</a>In starting up a social media campaign against CVS, Pill Club had help. Three early posters about #CVSDeniesCare said they had been in touch beforehand with Eugene Gu, a physician who is active about social justice issues on Twitter and has a <a href="https://twitter.com/eugenegu">high-profile platform there</a>, with nearly 300,000 followers, about it. Fine said she was told that Gu was "handling the Twitter side of things."Gu has been accused of abuse and harassment on the Internet, <a href="https://www.theverge.com/2019/3/5/18147216/eugene-gu-twitter-social-justice-activism-abuse-sexual-assault">according to The Verge</a>. There's also evidence of previous "arrest citations, including filed restraining orders and allegations of domestic violence" against Gu involving an ex-wife, <a href="https://www.theverge.com/2019/3/5/18147216/eugene-gu-twitter-social-justice-activism-abuse-sexual-assault">The Verge reported</a>. Gu told The Verge that those had been expunged by a judge. Gu did not return Business Insider's detailed requests for comment. Both Mandel and Fine said they had been in touch with a marketing coordinator from Pill Club before posting their viral tweets. According to Mandel, that person was Kimia Kalbasi, a managing director at the marketing and PR firm KKPR.Kalbasi listed Pill Club as a client on her LinkedIn profile last week. After Business Insider sent inquiries to Kalbasi, Pill Club was removed from her profile. Neither Kalbasi nor KKPR responded to requests for comment, including about whether Pill Club was a client of KKPR or whether KKPR was involved in the CVS campaign. <h2>A new model at odds with the established system</h2>Pill Club's model is part of a new, disruptive trend in healthcare towards consumer-friendly online sales of prescription medicine. These new startups usually combine a virtual doctor visit with medication shipped directly to the customer, though unlike Pill Club, many don't take insurance.Read more: <a href="https://www.businessinsider.com/booming-direct-consumer-healthcare-business-2018-10">Investors are betting $660 million that companies that ship Viagra and hair loss pills to your door is the future of medicine -but some doctors are worried</a>Here's what we know of the Pill Club-CVS dispute:<ul><li>Pill Club gets paid for the prescriptions through a patient's health insurance, specifically, by pharmacy-benefit managers like CVS Caremark. </li><li>Companies like CVS Caremark set up agreements to pay a certain amount of money per prescription to pharmacies. They're negotiating those prices on behalf of the health plans and employers footing the bill.</li><li>Companies like Pill Club had been getting paid the same rate as in-person pharmacies. </li><li>But earlier this year, CVS told Pill Club and others that would change, according to a CVS spokesman. Pill Club <a href="https://thepillclub.com/access-matters/cvs-caremark">has said</a> that CVS plans a rate cut.</li></ul>Operating an online pharmacy has been heralded as a cheaper endeavor than operating a retail pharmacy. Online pharmacies can be more efficient, and they don't come with the overhead of keeping a store open and staffed.Because Pill Club and others have such a new approach, "I think it's very likely that the [pharmacy-benefit managers] are trying to figure out what the right reimbursement is for this model," said Dania Palanker, an assistant research professor at Georgetown's Health Policy Institute's Center on Health Insurance Reforms. Palanker called Pill Club's response a "really smart advocacy campaign," aimed at getting the public on its side. But "as someone who has worked in women's health, I'll personally say I just don't like the idea of a company claiming something is an attack on women's health if it's really a financial disagreement between two companies about the financial bottom line of the companies," she said. Read more: <a href="https://www.businessinsider.com/doctors-worry-about-how-startup-hims-prescribes-viagra-online-2019-2">Trendy startup Hims wants to shake up men's health by prescribing generic Viagra online and is nearing a $1 billion valuation. But a move to relax guidelines has raised concerns among some of its doctor partners.</a><h2>How this affects other prescription-delivery companies</h2>No other pharmacy startup contacted by Business Insider was disputing its contract in a manner similar to Pill Club, though some did say they were, or could be, affected by a rate cut."Other pharmacies in our network with similar business models as Pill Club have agreed to the same terms and reimbursement," the CVS spokesman said.Pandia Health, a provider of birth control online, said that it's affected by the changes to reimbursement through the mail-order pharmacy it works with, but could not provide further details because that contract is managed by its pharmacy partner, called <a href="https://www.businessinsider.com/truepill-online-pharmacy-api-direct-to-consumer-healthcare-hims-nurx-2019-3">Truepill</a>. Truepill declined to comment about pharmacy-benefit manager contracts.Read more: <a href="https://www.businessinsider.com/truepill-online-pharmacy-api-direct-to-consumer-healthcare-hims-nurx-2019-3">Meet the pharmacy quietly powering hot startups like Hims and Nurx that ship Viagra and birth-control pills straight to your door</a>Simple Health, another birth-control-delivery startup, is on a similar contract with CVS Caremark as Pill Club, said CEO Joel Wishkovsky. He said Simple Health wouldn't turn away Caremark patients even if CVS paid his company less."The dispute surrounding CVS Caremark is about profits for mail-order providers and not actually about access to healthcare," he said in a statement. "We are against using patients as bargaining chips in negotiations and we have not and will not turn away CVS Caremark patients."The financial position of an individual company could also be a major factor here.Payments for birth control are among the lowest in the pharmacy business, and pharmacies typically make money across their whole offering of prescription drugs: some might lose money, while others might be lucrative, pharmacy startups told Business Insider.Because Pill Club's pharmacy is centered around contraception, offering more than 100 brands of the birth control pill and NuvaRing, changes to reimbursement could have a big impact on its overall business. "If you've got a new startup that's trying to figure this out, they may have to take losses on these," Georgetown's Palanker said. "And the question is, can they afford to do that?"<a href="https://www.businessinsider.com/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health-3"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/mosquitoes-attracted-people-blood-type-beer-scent-2019-8">Why mosquitoes are attracted to some people more than others</a></h3> <div> </div> </div>

The inside story of how a tiny startup and a controversial Twitter doctor sparked viral internet outrage against CVS

<a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;ALID=2C0408TVUFWLR&amp;PBC=:2C0408TVUFWLR">Reuters/Chinese Stringer Network</a>Johnny Depp's extravagant lifestyle has apparently come back to bite him, according to recent reports.After filing a <a href="http://www.businessinsider.com/johnny-depp-spending-habits-money-finances-2017-2">$25 million lawsuit</a> accusing his former business managers of fraud and mismanagement, the "Pirates of the Caribbean" star is now facing a countersuit from his managers, <a href="http://www.hollywoodreporter.com/thr-esq/johnny-depp-hit-countersuit-by-business-managers-970719">who claim</a> that the actor led an "extravagant and extreme" lifestyle.His business managers, Joel and Robert Mandel of The Management Group, said that Depp made $650 million in the more than a decade they worked with him. But Depp reportedly splurged this money on his lavish lifestyle, which included buying 14 properties and a 156-foot yacht and spending $3.6 million a year to pay his 40-person staff, <a href="http://www.hollywoodreporter.com/features/johnny-depp-a-star-crisis-insane-story-his-missing-millions-1001513">The Hollywood Reporter wrote Wednesday</a>. Take a look at some of the insane real estate that he has loved, lost, and held on to over his career:

Take a tour of the insane real estate portfolio at the center of Johnny Depp's legal storm

<a href="http://www.gettyimages.com/license/492291300">John Phillips/Getty Images</a>Johnny Depp.A Los Angeles judge has ruled that Johnny Depp's outrageous spending, which at one time totaled up to <a href="http://www.businessinsider.com/johnny-depp-spending-habits-money-finances-2017-2">$2 million a month</a>, isn't relevant in the current legal battle he has with his ex-business mangers. According to <a href="http://deadline.com/2017/07/johnny-depp-manager-lawsuit-fraud-claim-against-actor-stands-1202125867/" target="_blank" rel="noopener noreferrer">Deadline</a>, L.A. superior court judge Teresa Beaudet found that The Management Group (TMG) - which counter-sued Depp after the actor sued its principals Joel and Robert Mandel for allegedly collecting millions in fees without his consent in January - failed to connect how Depp's spending relates to the money the actor allegedly still owes the company."The pages of allegations of Depp's allegedly outrageous spending clearly have no relevance to the 5% commission allegedly owed TMG from the 'Pirates Of The Caribbean' payout, or to the final work done by TMG on transitioning their files to Depp's new representatives," Judge Beaudet wrote.However, the fraud claim against Depp still stands. TMG alleged that its employees aided in Depp's transition to a new business manager because it was told repeatedly it would be paid for the work."TMG alleged that Cross-Defendants never intended to abide by their promises and TMG reasonably relied on the alleged false promises by doing the 386 hours of work during those last two weeks of March," Beaudet wrote. "TMG has sufficiently alleged the elements of an action for promissory fraud with sufficient specificity."The case will go before a jury on January 24 next year. <h3>NOW WATCH: <a href="http://www.businessinsider.com/first-trailer-marvel-inhumans-lockjaw-black-bolt-medusa-abc-2017-6">Here's the first trailer for 'Inhumans' - the Marvel movie that was turned into a TV show</a></h3> Please enable Javascript to watch this video

Judge rules Johnny Depp's outrageous spending habits aren't relevant in his legal battle with ex-managers

<div class="KonaFilter image-container display-table"><div><div class="image on-image">AP Photo/Joel RyanThe flag of the United States of America waves in the sun, above a statue of an eagle atop the U.S. Embassy in London, Monday, Feb 1, 2010.</div></div></div><ul class="summary-list"><li>The Stars and Stripes was adopted by the Continental Congress as the US flag on June 14, 1777. </li><li>It originally consisted of 13 stars and 13 stripes, representing the 13 original colonies. </li><li>The flag went through changes, with more stars and stripes added as new states joined the Union. </li><li>In 1818 Congress decided that the number of stripes should be fixed at 13, and only new stars added. </li><li>The current US flag has been used the longest of any version, and has been the same since 1960.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>On this day in 1777 Congress officially adopted the Stars and Stripes as the US flag.Here's what Congress said at the time: "Resolved, that the flag of the United States be thirteen stripes, alternate red and white; that the union be thirteen stars, white in a blue field, representing a new constellation." The flag was based on the Grand Union flag carried by the Continental Army in its fight against the British during the War of Independence, with its 13 stars and stripes representing the 13 original US Colonies. Until then, colonies and militias had carried a number of different flags. Who came up with the design of the flag is something of a mystery, with some historians believing it was designed by Francis Hopkinson, a New Jersey Congressman, and sewn by Philadelphia seamstress Betsy Ross. <div class="KonaFilter image-container display-table"><div><div class="image on-image">H. Armstrong Roberts/Retrofile/Getty Images1776 Colonial US flag, showing 13 stars.</div></div></div>Many know the flag as "Old Glory." This was the name given to a large 10-by-17-foot US flag by its owner, sea captain William Driver.In the Civil War the flag survived many attempts by Confederate forces to seize and destroy it. Driver's name for that flag later became a nickname for all US flags. The 'Star Spangled Banner' that inspired the national anthem flew over Fort McHenry in the 1812 war with the British.Seeing the the giant 15-star, 15-stripe banner still standing after a fierce bombardment, Francis Scott Key penned his famous words and set them to music. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Gett ImagesThe original "Star-Spangled Banner" that inspired Francis Scott Key's poem was moved from Fort McHenry in 1874 and displayed at the Boston Navy Yard until 1907, and has been at the Smithsonian Institution ever since.</div></div></div>The flag went through changes over the years, with Congress passing declarations to add stars and stripes and change the design of the flag as new states joined the union. In 1818 Congress passed a new resolution, stating that the flag should revert to 13 stripes, with only stars added for new states.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Kean Collection/Getty ImagesIllustration of the American flag adopted in 1818 featuring 20 stars and 13 stripes, 1818.</div></div></div>One hundred years after the official adoption of the Stars and Stripes, Congress marked National Flag Day, with the banner flown over public buildings across the nation.It was President Harry Truman who in 1949 officially designated June 14 Flag Day -a day of national observance. <div class="KonaFilter image-container display-table"><div><div class="image on-image">AP Photo/Henry GriffinPresident Truman, seated in his White House Office, Aug 3, 1949, Signs legislation designating June 14 as Flag day each year.</div></div></div>Today, the flag has 13 stripes, representing the original colonies, and 50 stars representing each state.This version is the longest-serving US flag, having been officially adopted in 1960 to acknowledge Hawaii, the newest state. The current flag was designed by Ohio high school student Robert G. Heft. His design beat thousands of others to be adopted as the official US flag. <div class="KonaFilter image-container display-table"><div><div class="image on-image">MANDEL NGAN/AFP/Getty ImagesUS flags are seen near the Mall in front of the US Capitol in Washington, DC on July 3, 2018, a day ahead of the Independence Day holiday.</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/youtube-allows-hate-speech-harassment-steven-crowder-carlos-maza-2019-6">YouTube is in dangerous territory after not removing a video that ridiculed a Vox producer for being gay</a></h3> <div> </div> </div>

The US officially adopted the Stars and Stripes flag exactly 232 years ago - here's how it used to look before the current design

Ken Ishii/GettyJohnny Depp.Though Johnny Depp filed a <a href="https://www.theguardian.com/film/2017/jan/14/johnny-depp-divorce-pistol-and-boo-to-stay-with-amber-heard" target="_blank" rel="noopener noreferrer">$25 million lawsuit</a> in the beginning of the year against his former business managers at The Management Group, citing "gross mismanagement," TMG has presented evidence that shows the company made Depp aware of his financial troubles. Depp, meanwhile, claims he wasn't made aware of his dire financial situation until last year.First, the company filed a countersuit in which it stated the actor's lavish spending habits averaged to around <a href="http://www.businessinsider.com/johnny-depp-spending-habits-money-finances-2017-2">$2 million a month</a>. Now <a href="http://www.eonline.com/news/862015/johnny-depp-s-emails-detailing-financial-crisis-made-public-in-ongoing-legal-battle" target="_blank" rel="noopener noreferrer">E!</a> has obtained legal documents filed by TMG, including email correspondence going all the way back to 2009, revealing correspondence between Depp, his sister, and personal manager Christi Dembrowski, as well as lawyers, agents, managers, and bankers about the star's finances.According to the documents, Depp's former business manager Joel Mandel contacted Depp in December of 2009 advising the star to "take it easy on holiday spending" and "discuss some dollar limit" on participating in a <a href="https://en.wikipedia.org/wiki/John_Dillinger" target="_blank" rel="noopener noreferrer">John Dillinger</a> Museum auction. The actor played the famous gangster in the 2009 movie "Public Enemies."Mandel also asked Depp to meet in person "to talk about where we are financially, what we have borrowed in order to sustain ourselves, what we have had to do to obtain those borrowings, what is now necessary to pay those borrowings back, and finally, to look realistically at income and expenses to work together on how to make sure that these are back in balance." Columbia PicturesJohnny Depp earned $20 million for the 2010 movie "The Tourist."Depp responded the following day, saying, "I am doing my very best on holiday spending, but there is only so much I can do, as I need to give my kiddies and famille [sic] as good as Christmas as possible, obviously within reason."The topic of Depp flying on a private jet also came up in emails and someone within his circle suggested that Depp begin flying commercial to cut down on costs. But Depp was completely against the idea. The star replied saying it "would be a f---ing nightmare of monumental proportions," citing a concern about constant paparazzi presence.Depp didn't seem particularly concerned about the warnings his people gave him in the emails obtained by E!, and referenced some major paydays. According to Depp in the documents, he was set to earn $20 million for 2010's "The Tourist," $35 million for 2011's "Pirates of the Caribbean: On Stranger Tides," and $20 million for 2012's "Dark Shadows." And with that, TMG alleges, Depp didn't control his spending habits, leading to the actor's continued financial woes."For years, TMG repeatedly informed Depp and Dembrowski and personal lawyer, Jake Bloom, that Depp was living beyond his means, and urged him to spend less and to sell certain expensive but unnecessary assets to repay loans and pay his taxes and living expenses," the company's filing stated.A representative for Depp did not immediately respond to Business Insider's request for comment. <h3>NOW WATCH: <a href="http://www.businessinsider.com/kevin-g-mean-girls-today-rajiv-surendra-lindsay-lohan-2017-6">Here's what Kevin G. from 'Mean Girls' is up to today</a></h3> Please enable Javascript to watch this video

Emails reveal Johnny Depp's business manager warned him about outrageous spending habits

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.shutterstock.com/download/confirm/695718385?src=IJgbQ7a-PlJAdUin8bR59A-3-13&amp;size=huge_jpg">Shutterstock/Marco Iacobucci EPP</a></div></div></div>Earlier this month, Morgan Stanley announced <a href="http://www.businessinsider.com/morgan-stanley-announces-2018-managing-director-promotions-2018-1">a new class of 153 managing directors</a>.The names of the newly promoted managing directors were released Monday. Of the new promotions, 64% came from the Institutional Securities, Investment Management, and Wealth Management divisions. Ninety-five of the new MDs work in the Americas; 38 in Europe, the Middle East, and Africa; and 20 in Asia. The 153 promotions bests the 2017 tally of 140, and is just shy of the 2016 class of 156, according to a person familiar with the matter. Here are the names:<table cellspacing="0"><tbody><tr><td>Mitchell Adler</td><td> </td><td>James Manson-Bahr</td></tr><tr><td>Andrea Aguiar</td><td> </td><td>Joseph J. Martella</td></tr><tr><td>Abdulaziz Alajaji</td><td> </td><td>Kimihiko Matsuno</td></tr><tr><td>Robert Avery</td><td> </td><td>Christopher May</td></tr><tr><td>Sharon Bazbaz</td><td> </td><td>Mairaed McCarthy</td></tr><tr><td>Sainath Bharatula</td><td> </td><td>Erin McCourt</td></tr><tr><td>Ira Blumberg</td><td> </td><td>Jonathan McEwen</td></tr><tr><td>Joseph Bonanno</td><td> </td><td>William McGeough</td></tr><tr><td>Venkatadri Boppana</td><td> </td><td>Brian McGowan</td></tr><tr><td>Mark Bortnik</td><td> </td><td>James McKenna</td></tr><tr><td>Charles F. Burke, Jr.</td><td> </td><td>Andrew Alexander Medvedev</td></tr><tr><td>Frank Campbell</td><td> </td><td>Joseph Mehlman</td></tr><tr><td>Richard Caskey</td><td> </td><td>Thomas Mendoza</td></tr><tr><td>Kamal Chebaklo</td><td> </td><td>Obaid Mufti</td></tr><tr><td>Paul Cherian</td><td> </td><td>Mary E. Mullin</td></tr><tr><td>Gary Cheung</td><td> </td><td>Yunchi Nam</td></tr><tr><td>Elaine Close</td><td> </td><td>Pat Natale</td></tr><tr><td>Sybil Collins</td><td> </td><td>Timothy Nims</td></tr><tr><td>Lancelot Comrie</td><td> </td><td>Sarah Nolan</td></tr><tr><td>Glen Cooney</td><td> </td><td>Brian Nowak</td></tr><tr><td>Parker Corbin</td><td> </td><td>Roberto Nunez</td></tr><tr><td>Kurt M. Cross</td><td> </td><td>Ryan O'Hagan</td></tr><tr><td>Conroy Daley</td><td> </td><td>Lon A. O'Sullivan</td></tr><tr><td>Andrew Davies</td><td> </td><td>Christopher Owens</td></tr><tr><td>Andrew Day</td><td> </td><td>Rose Palazzo</td></tr><tr><td>E. Stanhope DeLaney, IV</td><td> </td><td>Cheryl Palmerini</td></tr><tr><td>Dominic Desbiens</td><td> </td><td>Thilakshani Dias Passi</td></tr><tr><td>Don Devendorf</td><td> </td><td>Adam Pickard</td></tr><tr><td>Michael Devine</td><td> </td><td>Martin Pitzer</td></tr><tr><td>Rupa Dharia</td><td> </td><td>Jon Ponosuk</td></tr><tr><td>Kyle Downey</td><td> </td><td>Francesco Puletti</td></tr><tr><td>Stephen Dyer</td><td> </td><td>Thomas Rende</td></tr><tr><td>Mona Eldam</td><td> </td><td>Thomas Restout</td></tr><tr><td>Tserennadmid Erdenebileg</td><td> </td><td>Patrick Roman</td></tr><tr><td>Markus Fimpel</td><td> </td><td>Ian R. Rooney</td></tr><tr><td>Jennie Pries Friend</td><td> </td><td>Andrew Ross</td></tr><tr><td>Keiko Fukuda</td><td> </td><td>Julie Rozenblyum</td></tr><tr><td>Patrick Gallagher</td><td> </td><td>Katen Rubeo</td></tr><tr><td>Shekar Ganesh</td><td> </td><td>Vida Rudkin</td></tr><tr><td>Kerry Gendron</td><td> </td><td>Rachel Russell</td></tr><tr><td>Anna Gitelman</td><td> </td><td>Mitsu Saito</td></tr><tr><td>Amit Goel</td><td> </td><td>Srikanth Sankaran</td></tr><tr><td>Simon Goodwin</td><td> </td><td>Till Schneider</td></tr><tr><td>Anand Govind</td><td> </td><td>Alvaro Serrano Saenz de Tejada</td></tr><tr><td>Eric Govind</td><td> </td><td>Melissa Sexton</td></tr><tr><td>Charlie Gray</td><td> </td><td>Anita Shaw</td></tr><tr><td>Jennifer A. Grego</td><td> </td><td>Marina Shchukina</td></tr><tr><td>Marco Gregotti</td><td> </td><td>Bobby Shoraka</td></tr><tr><td>Mutlu Guner</td><td> </td><td>Clifford Shu</td></tr><tr><td>Yimei Guo</td><td> </td><td>Christophe Sloan</td></tr><tr><td>Nitin Gupta</td><td> </td><td>April Tam Smith</td></tr><tr><td>Brian Han Jiang</td><td> </td><td>Don So</td></tr><tr><td>Kartik Hariharan</td><td> </td><td>Andres Sommer</td></tr><tr><td>Chris Heffernan</td><td> </td><td>Elaine Souza</td></tr><tr><td>Richard Hill</td><td> </td><td>S. Anthony Taggart</td></tr><tr><td>Nathan Hilleary</td><td> </td><td>Daisuke Tanaka</td></tr><tr><td>Haibo Huang</td><td> </td><td>Joel Thompson</td></tr><tr><td>Dominic Hughes</td><td> </td><td>Eduardo Timpanaro</td></tr><tr><td>Dan Hunt</td><td> </td><td>Iain Torrance</td></tr><tr><td>Ankush R. Jain</td><td> </td><td>Jonathan Vannelli</td></tr><tr><td>Erik Jepson</td><td> </td><td>Karen Veary</td></tr><tr><td>Timothy Juba</td><td> </td><td>Alice S. Vilma</td></tr><tr><td>Benjamin J. Juergens</td><td> </td><td>Roman Waleczek</td></tr><tr><td>Beata Juvancz</td><td> </td><td>Suzanne Walls</td></tr><tr><td>Kiran Karkhanis</td><td> </td><td>Zhao Wang</td></tr><tr><td>Swanand Kelkar</td><td> </td><td>Nash Waterman</td></tr><tr><td>David Khayat</td><td> </td><td>Henry Webb</td></tr><tr><td>Gard Krause</td><td> </td><td>Wei Wei</td></tr><tr><td>Jessica L. Krentzman</td><td> </td><td>Alexander Weng</td></tr><tr><td>Wook Lee</td><td> </td><td>David Willmor</td></tr><tr><td>Russ Lindberg</td><td> </td><td>Jyri Wilska</td></tr><tr><td>Patrick Lindemann</td><td> </td><td>Niamh Staunton</td></tr><tr><td>Dan Maccarrone</td><td> </td><td>Rachel I. Wilson</td></tr><tr><td>Dipendra Malhotra</td><td> </td><td>Perren Wong</td></tr><tr><td>Bob Mandel</td><td> </td><td>Huan Yu</td></tr><tr><td>Edward Manheimer</td><td> </td><td>Cathy Zhang</td></tr><tr><td> </td><td> </td><td>Rachel Zhang</td></tr></tbody></table> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/amazon-outlook-next-acquisition-might-be-surprising-says-cfra-2018-1">Expect Amazon to make a surprising acquisition in 2018, says CFRA</a></h3> <div> </div> </div>

Morgan Stanley's new managing director list is out - read the names here

GettyJohnny Depp.Many entertainment stars love the finer things in life, but it seems even the earnings of an A-lister like Johnny Depp couldn't sustain his wild indulgences.The "Pirates of the Caribbean" star is currently in a public-relations tailspin following his <a href="http://www.businessinsider.com/amber-heard-johnny-depp-restraining-order-2016-5">messy divorce</a> with actress Amber Heard, who alleged he had abused her, and filing a <a href="https://www.theguardian.com/film/2017/jan/14/johnny-depp-divorce-pistol-and-boo-to-stay-with-amber-heard" target="_blank" rel="noopener noreferrer">$25 million lawsuit</a> against his former business mangers at The Management Group (TMG has countersued).Things didn't get any better for Depp on Wednesday when <a href="http://www.hollywoodreporter.com/features/johnny-depp-a-star-crisis-insane-story-his-missing-millions-1001513" target="_blank" rel="noopener noreferrer">The Hollywood Reporter</a> ran a feature that goes deeper into Depp's financial woes.TMG's Joel Mandel claims that even though Depp has earned more than $650 million in the 13-plus years the company represented the star, Depp didn't have enough liquid cash to cover his <a href="http://www.businessinsider.com/how-johnny-depp-spends-his-money-2017-2">bills of $2 million a month</a>. Depp's extravagant spending habits reportedly include $3.6 million he paid annually to his 40-person staff, $350,000 paid monthly to maintain his 156-foot yacht, $30,000 a month on wine, and <a href="http://www.vulture.com/2017/04/johnny-depp-counters-ex-financial-managers-spending-claims.html" target="_blank" rel="noopener noreferrer">$5 million the star himself says</a> he spent to shoot the ashes of his late friend Hunter S. Thompson out of a cannon.TMG says it met with Depp on numerous occassions over the years to get Depp to sell some of his high-priced items. On one occasion, he agreed to sell his $10 million yacht he spent $8 million to renovate, according to THR. Another year, TMG almost got Depp to sell his French chateau (on which he spent $10 million in renovations), but he got cold feet after prospective buyers came calling, according to the ex-business managers. It's since been relisted for $39 million, according to the trade.DisneyJohnny Depp will be seen next in "Pirates of the Caribbean: Dead Men Tell No Tales," out May 26.Depp has routinely earned $20 million upfront paychecks for the movies he's been in since the success of 2003's "Pirates of the Caribbean: The Curse of the Black Pearl." He also gets 20% of the backend per picture, according to THR. A source said that's $40 million from the backend of each "Pirates" movie and $55 million from his profit on the 2010 hit "Alice in Wonderland," which earned over <a href="http://www.boxofficemojo.com/movies/?id=aliceinwonderland10.htm" target="_blank" rel="noopener noreferrer">$1 billion worldwide</a>.TMG attorney Michael Kump said in the lawsuit that the firm stepped in to help Depp avert a "devastating financial collapse." Depp has claimed he was kept in the dark about his finances.It's unclear how strapped for cash Depp currently is. According to litigation, he's received $25.7 million over the past two years in profits from six movies and he earned upfront money (likely close to $20 million each) on finished movies "Fantastic Beasts and Where to Find Them," "LAbyrinth," and "Gnomeo &amp; Juliet: Sherlock Gnomes."A representative for Depp did not immediately respond to Business Insider's request for comment. <h3>NOW WATCH: <a href="http://www.businessinsider.com/top-chef-alum-fabio-viviani-use-canned-tomatoes-sauce-pasta-italian-cooking-san-marzano-2017-4">A 'Top Chef' alum explains why you should use canned tomatoes in your sauce</a></h3> Please enable Javascript to watch this video

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