2 years ago
christianmordi
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Scott Storch Blows 70 Million, Files for bankruptcy
Apparently Scott Storch learned nothing from the sad financial story of MC Hammer.
Storch, once one of the highest paid producer in hip-hop has filed for bankruptcy. According to TMZ, Storch declared assets worth $3,600: a $3,000 watch, $500 in clothing and $100 cash. He reports making roughly $10,000 in 2014, with zero income coming from his music production companies.
At one point in time, Storch amassed a fortune of 70 million dollars. It’s unreal that a person can waste away 70 million dollars in 15 years.
The Miami times described his lavish lifestyle as one of the main causes of his downfall. In a 2010 profile with the publication, Storch shared how he had a garage stacked with 13 vehicles ("including a $600,000 Mercedes SLR McLaren, a $500,000 Mercedes Maybach, and a $1.7 million black Bugatti Veyron"), a $20 million yacht, a $10 million 18,000-square-foot mansion and "a $3 million 34-carat yellow-diamond pinkie ring."
That’s right, 3 milly on a pinkie ring.
It’s sad to see a guy whose sound was the staple in hip-hop culture a decade ago deplete his resources. His run began in 2002, when he crafted “Cry Me a River” for Justin Timberlake and “Fighter” for Christina Aguilera. He was then brought into Dr. Dre’s fold, making hits with 50 Cent (“Candy Shop,” “Just a Lil’ Bit,” G-Unit’s “Poppin’ Them Thangs”), Fat Joe (Terror Squad’s “Lean Back,” the Lil Wayne-featuring “Make it Rain”) and more.
Lets hope that Storch is able to create a couple more hits and get his financial situation back in tow.
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2 comments
HOW DOES THAT EVEN HAPPEN?? He should've taken the money he spent on cheesy aviator shades and invested in a financial planner.
I don't get it either, I tell people all the time when they mention MC Hammer, blowing 50-60 million dollars is NOT as easy as you think..lol. For starters, you eventually run out of place to put the silly stuff you buy.. you also have to assume how time consuming spending this much money must be. He was literally making it rain all day, lol