Scott Storch is a record producer, songwriter, and former musician who began his career in 1991. Like many people who are successful in the music industry, Storch became a wealthy man. At one point, Scott Storch’s net worth was estimated at $100 million. For most people, such a healthy bank balance would set them up for life and open a myriad of lifestyle opportunities. However, Storch was not careful with his finances, and he blew all his money. Here is how Scott Storch blew a $100 million net worth.
Storch’s Early Life
Scott Storch was born in Long Island, New York, on December 16, 1973. During his childhood, he lived in both South Florida and Philadelphia, Pennsylvania. He came from a musical background, as his mother was a professional singer, and his uncle, Jeremy Storch, founded the Vagrants, a soul-rock band. Storch’s uncle was also a songwriter who wrote songs for artists including Eddie Money and David Mason.
How Scott Storch Achieved a Net Worth of $100 Million
In 1991, Scott Storch began his professional career in the music industry as a keyboard player. He was a member of the hip-hop group the Roots. He featured on the albums ‘Organix,’ ‘Do You Want More?’ and ‘Illadelph Halflife,’ which were the first three albums released by the band.
Although Storch was passionate about music, he disliked touring with the band and much-preferred spending time in the studio creating music. Therefore, Storch decided that he was better suited to a career as a record producer than a member of a band, and set up the record label Storch Music Company and the music production company Tuff Jew Productions LLC, which is published by Reservoir Media Management.
The first song produced by Storch was ‘You Got Me,’ which was a track performed by his former band, the Roots, that featured Erykah Badu. He then collaborated with Dr. Dre on the song ‘Still Dr. Dre.’ During the 2000s, he became one of the top music producers in the music industry.
According to Concord, Storch became a Grammy-nominated and Multi-Platinum producer during this time, and he won the 2006 ASCAP Songwriter of the Year Award. At the height of his success, Storch was producing music for some of the top artists and groups in the hip-hop industry. These included 50 Cent, Christina Aguilera, Snoop Dog, Lil’ Kim, the Game, Beyoncé, Pink, Chris Brown, Nas, and T.I. His most commercially successful hit was Terror Squad’s 2004 single ‘Lean Back.’
How Scott Storch Blew a $100 Million Net Worth
Despite being one of the most successful music producers of the 2000s, Scott Storch made some bad lifestyle choices that saw his life and finances going on a downward spiral. Over a period of less than a decade, he managed to dwindle away nearly all his $100 million net worth.
In 2005, Scott Storch began dabbling in recreational drugs, and this quickly became a full-blown cocaine addiction. As a rich man, he could afford to pay for his addiction and to take time off work to make the most of his celebrity lifestyle as and when he chose to do so. However, his cocaine addiction and his love of partying soon began to take over his life.
In 2006, he took a month of work to party and took a vacation in Hollywood. It was at this point that his life began to spiral out of control. He was enjoying partying with his friends at his $10 million mansion so much that he withdrew from record producing.
Spending was out of control
It was also during this time that Storch’s spending got out of control. He was enjoying the celebrity lifestyle and wanted to splash his cash on outrageous luxuries, such as 20 luxury cars, a 117-foot yacht, and a private jet. Storch’s cocaine addiction was blinding him to the extravagance of his expenditure, and he purchased many ridiculously expensive items while he was high on cocaine.
By early 2007, Storch found himself in dire financial straits, as he had squandered more than $30 million in under six months. Unfortunately, the drugs and excessive spending were not Storch’s only problem during that period. He was also behind with his property taxes and child support payments. Furthermore, he had leased a Bentley in 2006 and failed to return it for three years. In 2009, Storch was arrested for grand theft auto.
What Is Scott Storch’s Net Worth Now?
After blowing his $100 million fortune, Celebrity Net Worth says that Scott Storch’s net worth is now estimated at $100,000. Storch was forced to officially file for bankruptcy in 2015 due to his depleting bank balance.
Storch’s Current Projects
After filing for bankruptcy, Storch realized that he needed to turn his life around. The first step was committing to giving up drugs, as his drug use had played a significant part in Storch’s financial woes. Storch checked into an intensive inpatient drug rehabilitation program in Hollywood, Florida, in May 2009, shortly before he filed for bankruptcy for the first time.
Despite attending the program, Storch was arrested in Lass Vegas in 2012 for possession of cocaine. The record producer also decided to focus on his music to get his life back on track. Since he lost most of his fortune, Scott Storch has continued to work in the music industry producing records for many famous artists.
Some of these include Russ, Crim Dela Crim, Bone Thugs-in-Harmony, the Game, DJ Khaled, and Berner. Although he has lost nearly all his money, Scott Storch has the potential to become a wealthy man again. If he stays off the drugs and continues to work as a record producer, producing music for big names in the hip-hop industry, there is the possibility of him making a financial comeback and becoming a wealthy man for the second time.
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