Johnny’s mother Betty Sue took her last breath in May 2016 after a long illness and this had an adverse effect on Johnny as he was already going through a bad phase on the personal front. He had tattooed his mother’s name on his inner arm and when he got nominated for the first time in Oscars in 2004, he took his mother to the awards ceremony.
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Johnny was not able to understand as to what he has done to deserve this. His mother left him, his wife was leaving him and his money was fast disappearing. He felt that he was nice and kind to everyone, tried to help all and be true to everybody but still he was going through all this.
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It is being said that Johnny lost almost all of his $600 million of wealth and he blames his former managers for this goof-up. Other than his management company, he also feels that his family at Kentucky has lived extravagantly at his expense and he has always been living an ultra-lavish life too.
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He is engaged in a legal battle against his former management company as Johnny alleges that they have misused and mismanaged his funds while taking a good share for themselves. He has filed a case against The Management Group for US$25 million claiming that they have mismanaged his funds worth US$400 million. Johnny has alleged that TMG has paid taxes late for 13 years continuously and therefore they have also paid US$5.6million as late fees.
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The former business managers TMG immediately countersued Johnny, alleging that he is the only one responsible for his dwindling funds as he kept on spending lavishly despite repeated warnings that he couldn’t afford to spend at such high speed. The reporter felt while interviewing Johnny that he was worried about his financial situation and had no clue that he was behind on his taxes.
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