Scott Storch Files For Bankruptcy After $70 Million Fortune Dwindles To $100 In Cash!

[TXSTYLE]

What a foking tardbag... http://www.huffingtonpost.com/2015/0...usaolp00000592

I remember seeing several shows or articles about his over-lavish lifestyle. And now, broke as a joke. Zero sympathies over here!

Hip-hop producer Scott Storch, who worked with the likes of Justin Timberlake, Beyoncé and Dr. Dre to amass a fortune of $70 million, now allegedly has only a few thousand dollars in assets to his name.

TMZ reported that Storch filed for bankruptcy claiming just $3,600 in assets, including a $3,000 watch, $500 in clothing and $100 in cash.

The New York Daily News obtained the filing for Chapter 7 protection made in Florida earlier this month. The 41-year-old, who was behind hit songs like Beyoncé's "Naughty Girl," Timberlake's "Cry Me a River," and Britney Spears' "Me Against the Music," claimed his companies Tuff Jew Productions and Storch Music are worth $0 today. He apparently has $4.4 million in debt after blowing his money on cars, jets, jewels and drugs.

The Miami New Times described Storch's lavish lifestyle in a 2010 profile, detailing 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." He counted Paris Hilton, Lindsay Lohan and Kim Kardashian as friends.

"I would always be going from LA to Miami to New York, to Russia, St-Tropez," Storch told Billboard last year. "Costs about $50,000 for a domestic flight, $250,000 for overseas. Yeah, that's an expensive habit."

Cocaine proved to be his downfall ("Constantly snorting bumps of coke, he now paired his jewelry with shirts stained from 'blood that would just gush out of his nose at any given time,'" per the Miami New Times.) That drug problem cost him $30 million, according to Details magazine. He filed for bankruptcy in 2009 and checked into rehab.

Storch was trying to get better about his spending, according at a 2009 interview with MTV. “The cost of the drug didn’t affect my life,” Storch said. “It was the poor decisions I made, that were so poor financially, that caused me to go into this situation where I was forced to change my lifestyle … forced to change a lot of things. [I had] 15 to 20 cars at all times. That’s not smart. I would take one of 15 half-million-dollar cars I owned and go to the mall and spend that much money. Stupid, stupid stuff. It’s like it didn’t make a difference. They were ego investments. I would have been great with three or four cars! I didn’t need a 117-foot boat.”

In 2012, he was arrested for cocaine possession in Las Vegas.

Why the 'thumbs-up' you ask? Simple... He deserves to be broke!

[hellrotm]

I bet he had fun.

Cocaine is a hell of a drug.

[TXSTYLE]

Originally Posted by BlackJetE90

I bet he had fun.

If "fun" means squandering $70,000,000... I'll pass on that type of fun.

[Nkc]

I'd rather have the chance to squander $70m and say to myself that I've actually lived. Being broke with a $3000 watch still on the wrist ain't the worst thing in life. Yolo.

Originally Posted by Nkc

I'd rather have the chance to squander $70m and say to myself that I've actually lived. Being broke with a $3000 watch still on the wrist ain't the worst thing in life. Yolo.

Technically it's not, totally agree. Everyone has an opportunity to build themselves back up from nothing if they want it bad enough. He just got caught up in the yayo to do the yolo.

I mean, if he made music before that were hits, I'm sure he could probably find a way to do it again since none of these idiots make their own music anyways.

[TXSTYLE]

Originally Posted by Nkc

I'd rather have the chance to squander $70m and say to myself that I've actually lived. Being broke with a $3000 watch still on the wrist ain't the worst thing in life. Yolo.

I hear ya bruh. For me... I don't need to blow millions to say "I've lived".

But hey... That's what makes us all unique.

[ASBSECU E93]

70mm is generational type money. He is no different than the pro sports star that made millions and who are now broke!

And to the yolo comment...he still has to live after the $$ is gone. He lived a certain lifestyle without reprocussion - but it's about to get REALLY real for him...

[ASBSECU E93]

Originally Posted by Bye_DC5

Technically it's not, totally agree. Everyone has an opportunity to build themselves back up from nothing if they want it bad enough. He just got caught up in the yayo to do the yolo.

I mean, if he made music before that were hits, I'm sure he could probably find a way to do it again since none of these idiots make their own music anyways.

Yea - but who would work with this guy again...?

[Mr Tonka]

Who the hell is this guy and why should i care?

Man, i'm glad i don't know who these idiots in the news are.

Originally Posted by ASBSECU E93

Yea - but who would work with this guy again...?

I think it would be safe to say, that even if he had a bad drug habit, that shit runs rampant in the industry, so not many musicians bat an eye, because some probably did it with him.

I'm sure the people who would are minimal now, but if he made something that would in turn make them millions, then I think they'd probably set aside his issues for a moment. I probably would if I knew he could make me millions.

[ASBSECU E93]

Originally Posted by Bye_DC5

I think it would be safe to say, that even if he had a bad drug habit, that shit runs rampant in the industry, so not many musicians bat an eye, because some probably did it with him.

I'm sure the people who would are minimal now, but if he made something that would in turn make them millions, then I think they'd probably set aside his issues for a moment. I probably would if I knew he could make me millions.

True - but I also think you have a generation of music stars that are now themselves in the producer side of the business and also have name recognition going as additional star power behind the recording artist.

Originally Posted by ASBSECU E93

True - but I also think you have a generation of music stars that are now themselves in the producer side of the business and also have name recognition going as additional star power behind the recording artist.

I don't know. I think some of them START as their own producers, but then I'm sure word of mouth gets out that "so and so" can make them hit singles in a couple hours, and whatever talent they did have goes right out the window, and then they rely on these people to continue making their music.

Look at Taylor Swift. She used to play the guitar and whatnot, now all of her music is done on a computer written by someone else.

[Nkc]

Originally Posted by TXSTYLE

I hear ya bruh. For me... I don't need to blow millions to say "I've lived".

But hey... That's what makes us all unique.

I don't either but who are we to really judge how the man lived through his wealth? Maybe wealth means nothing to him either. Was he asking for your sympathy? You're stating quite strongly that he deserves to be broke, did he affect you personally when he was living lavishly? Why the hate bruh?

[ASBSECU E93]

Originally Posted by Bye_DC5

I don't know. I think some of them START as their own producers, but then I'm sure word of mouth gets out that "so and so" can make them hit singles in a couple hours, and whatever talent they did have goes right out the window, and then they rely on these people to continue making their music.

Look at Taylor Swift. She used to play the guitar and whatnot, now all of her music is done on a computer written by someone else.

Then there's Usher, Pharrell, Timberland, etc...don't disagree with you, it just depends on the artist and their specific musicality.

[P1]

At least he had a good time when he had money. Good for him.

[SheaButter]

I have lived this on a scaled level. I went from being worth around 10 million to living in my car for a few days, back in 2008. It's actually a lot easier to get sucked into absolutely blowing away money than people really realize. I didn't live NEARLY the lavish life he did, but I can give you one take-away. Everybody SAYS "If I had X money I would be smart with it" but in reality most pop up millionaires don't follow that fiscal responsibility (regretfully myself included).

I had a RIDICULOUSLY good time with all of my friends and family when I was on top of the world... But after losing it all and spending the last 7 years rebuilding my life to get back to financial freedom I have one major takeaway: No amount of fun is worth rebuilding from the trenches. If I could go back and do it all over again, I would be much smarter. I can't even IMAGINE where I would be at today if I was smarter with my lucky stock market wealth back in my early 20's...

[ASBSECU E93]

Well said. People that are instantly wealthy have serious issues with fiscal control.

[M_Six]

Originally Posted by Mr Tonka

Who the hell is this guy and why should i care?

Man, i'm glad i don't know who these idiots in the news are.

Right there with you. Not a clue who these people are. I hear songs today that I know are hits, but I haven't the foggiest idea what the title is, how the lyrics, go, or who is singing. And I use that last term lightly.

I'm still trying to figure out if the goofball in the flat brim hat thread is Miley Cyrus or Justin Bieber.

[BwoodBMW]

this guy was an internet forum super hero 10 years ago.... the pics of this guy and his toys were absurd. very polarizing, half of the internet thought he was awesome, half thought he was the biggest douche in history.

BTW he produced some mega-hits. I'm sure he still has royalty income to rebuild with. His lifestyle will need to be much more humble but my guess is he'll be fine.

[Mr Tonka]

Originally Posted by ASBSECU E93

Well said. People that are instantly wealthy have serious issues with fiscal control.

Becoming instantly wealthy has little to do with people's financial control.

I actually find it to be an interesting subject of conversation about human behavior. But lately this forum seems to be about cheeky bullshit with little substance. So it'd doubtful that any meaningful discussion would materialize.

[bimmette]

I remember him. I think he did an mtv cribs episode. He was the ultimate douchebag. I'm not surprised. But he was talented so he'll come back.