Scott Storch
Jun 24, 2015 18:19:45 GMT -5
Post by JOJO SIWA DERANGEMENT SYNDROME on Jun 24, 2015 18:19:45 GMT -5
Scott Storch: I Went From $70 Mil To $100 Cash, Now I'm in Bankruptcy
6/24/2015 12:40 AM PDT BY TMZ STAFF
EXCLUSIVE
Scott Storch -- the famed music producer who produced tracks for Christina Aguilera, Justin Timberlake, Beyonce and a slew of others -- was worth $70 million. Now he's got a hundred dollars cash.
Storch filed for bankruptcy claiming he has a grand total of $3,600 of assets to his name -- $100 in cash, $500 in clothing and a $3k watch. Most shocking ... his music companies are valued at $0.
Storch produced some of the biggest records in music history, including Timberlake's "Cry Me a River" and Aguilera's "Fighter."
He claims in bankruptcy docs he made a grand total of $10,000 last year.
As for how Storch lost his money, he reportedly blew through $30 mil in a 6 month span on drugs.
He also spent a fortune on cars, houses and other extravagances.
Read more: www.tmz.com/2015/06/24/music-producer-scott-storch-files-bankruptcy/#ixzz3e1aWafOy
Scott Storch is without a doubt one of the most well known individuals on the music scene. Over the last decade and a half, the hitmaker has produced hits for the likes of Justin Timberlake, 50 Cent, Christina Aguilera, Beyoncé, and a slew of other top tier talent. There was no way to turn on the radio in the 2000s and not here one of his hits at any given time, regardless of genre. Being one of the more accomplished producers, Storch amassed a fortune worth up to $70 Million.
In that time, he also became known for a lavish lifestyle, spending massive amounts on extravagant items. This to go along with a very expensive cocaine habit. TMZ reports that Storch blew through $30 Million in 6 months on drugs alone. This is an issue he has struggled with for years, going in and out of rehab. After attempting to regain his footing musically, Storch filed for bankruptcy today and in the documents, states the he only has $100 in cash left to his name. In total, his assets equal out at $3,600, with the producer stating that he also owns $500 worth of clothes and a watch valued at $3,000.
Hopefully Storch can bounce back from his hardships. He was spotted in the studio last year with Pusha T and Fat Joe, for whom he produced the now classic “Lean Back.”
Source
Other media outlets are reporting this as well.
6/24/2015 12:40 AM PDT BY TMZ STAFF
EXCLUSIVE
Scott Storch -- the famed music producer who produced tracks for Christina Aguilera, Justin Timberlake, Beyonce and a slew of others -- was worth $70 million. Now he's got a hundred dollars cash.
Storch filed for bankruptcy claiming he has a grand total of $3,600 of assets to his name -- $100 in cash, $500 in clothing and a $3k watch. Most shocking ... his music companies are valued at $0.
Storch produced some of the biggest records in music history, including Timberlake's "Cry Me a River" and Aguilera's "Fighter."
He claims in bankruptcy docs he made a grand total of $10,000 last year.
As for how Storch lost his money, he reportedly blew through $30 mil in a 6 month span on drugs.
He also spent a fortune on cars, houses and other extravagances.
Read more: www.tmz.com/2015/06/24/music-producer-scott-storch-files-bankruptcy/#ixzz3e1aWafOy
Scott Storch is without a doubt one of the most well known individuals on the music scene. Over the last decade and a half, the hitmaker has produced hits for the likes of Justin Timberlake, 50 Cent, Christina Aguilera, Beyoncé, and a slew of other top tier talent. There was no way to turn on the radio in the 2000s and not here one of his hits at any given time, regardless of genre. Being one of the more accomplished producers, Storch amassed a fortune worth up to $70 Million.
In that time, he also became known for a lavish lifestyle, spending massive amounts on extravagant items. This to go along with a very expensive cocaine habit. TMZ reports that Storch blew through $30 Million in 6 months on drugs alone. This is an issue he has struggled with for years, going in and out of rehab. After attempting to regain his footing musically, Storch filed for bankruptcy today and in the documents, states the he only has $100 in cash left to his name. In total, his assets equal out at $3,600, with the producer stating that he also owns $500 worth of clothes and a watch valued at $3,000.
Hopefully Storch can bounce back from his hardships. He was spotted in the studio last year with Pusha T and Fat Joe, for whom he produced the now classic “Lean Back.”
Source
Other media outlets are reporting this as well.