Aerosmith entrance man Steven Tyler as soon as admitted to an Australian information program that in his lifetime he wasted $6 million on cocaine. Tyler additionally defined that his cocaine behavior price him a marriage and severely broken his relationship together with his youngsters. Tyler’s admission is gorgeous. I can not think about a world the place $6 million of my cash could be wasted in such a horrendously irresponsible approach. And whereas Steven’s admission might have raised some eyebrows, it completely pales compared to the life story of hip-hop producer Scott Storch.
Storch, who produced a few of music’s largest hits between 1999 and 2006, actually makes Steven Tyler appear to be an entire chump. Throughout his profession, he amassed a powerful $100 million fortune churning out hits for artists like Dr. Dre, Christina Aguilera and 50 Cent. Sadly, whereas he rose the ranks of the music world, Storch additionally amassed one hell of a cocaine and luxurious spending behavior. Storch would finally blow by means of your complete $100 million fortune and declare chapter. If that is not surprising sufficient, extremely he someway wasted $30 million in lower than six months. How on the planet did this occur and what’s Scott Storch to date?
(Picture by Aaron Davidson/Getty Photos for SiriusXM)
Early Life And Rise To Stardom
Scott Spencer Storch was born on December 16, 1973 in Lengthy Island, New York. His mom was a singer and his father was a courtroom reporter. His uncle Jeremy based a soul rock band referred to as The Vagrants and carried out on the aspect for artists like Eddie Cash and Dave Mason. His dad and mom divorced when Scott was 10 and he moved together with his mom to Florida. Highschool was tough for Scott, so in the midst of his first 12 months, he moved as much as Philadelphia together with his dad. He by no means made previous the ninth grade. When he was 18 years outdated, Scott and his father moved to Cherry Hill, New Jersey the place they’d household close by. A type of close by relations was Scott’s cousin. This cousin launched Scott to the world of music.
He slowly started producing beats and rising the music ranks. In 1991 Scott was employed to be a keyboard participant for the hip hop group, The Roots. His rise to producer stardom didn’t take lengthy.
Dr. Dre’s “Nonetheless D.R.E” was Scott’s first large business hit. He adopted up with songs like 50 Cent’s “Sweet Store”, Fats Joe’s “Lean Again”, Justin Timberlake’s “Cry Me a River”, Beyonce’s “Me, Myself and I”. He really produced a whole lot of hit songs throughout his prime.
At his peak, Storch would promote every observe for $100,000. In 2005 alone, Storch produced greater than 80 tracks for a few of music’s largest stars and was thought of the most well liked maestro on the planet. He was even named ASCAP’s Songwriter of the 12 months for 2006.
Unimaginably Lavish Spending
Not surprisingly, Scott’s way of life shortly mirrored his new-found fame, success and fortune. He dated among the hottest ladies on the planet and Paris Hilton (zing!). He additionally started spending cash at a livid tempo. Storch owned a automotive assortment that will impress Jay Leno. His fleet was made up of 20 high-end luxurious automobiles that price $250,000 – $700,000 a chunk. Storch’s assortment included a Bentley, Maybach, Ferrari, Lamborghini, Bugatti Veyron and a restricted version McLaren SLR simply to call a couple of. Storch admitted that he would get up, blow some coke, after which head straight to the automotive dealership the place he would drop a whole lot of hundreds of {dollars}, on a whim. He claims he purchased not less than 10 automobiles whereas excessive on cocaine.
Storch arrange store in a $10.5 million mansion on Miami’s extremely unique Palm Island which he purchased in 2006, proper on the peak of the true property bubble. The home was a 30,000 sq. foot, waterfront mansion that had 9 bedrooms, an indoor pool, spa, movie show, health middle and sport room. In entrance of the mansion, Storch parked his 117 foot, 4 bed room $20 million yacht which he named “Tiffany”.
Quick ahead a couple of years, and a financial institution was compelled to repossess each the yacht and the mansion resulting from lack of cost. Apparently, in 2010 the home was purchased out of foreclosures by Rockstar Vitality Drink founder Russell Weiner for $6.75 million. Weiner owned it till October 2012, when he flipped it to rapper Birdman for $14.5 million. Storch additionally didn’t pay as a lot as $700,000 in property taxes from the mansion to the IRS.
Along with homes, automobiles, and yachts, Storch additionally had a penchant for costly jewellery. He showered himself and his girlfriends with thousands and thousands of {dollars} value of diamonds, $100 thousand watches, necklaces and extra. His left index finger was completely adorned with a 32 carat canary yellow diamond ring that price an estimated $7 million.
He additionally didn’t precisely fly coach. Every time Scott traveled, it was by personal jet, irrespective of the gap. Whereas that is probably not shocking, needless to say even among the richest celebrities in Hollywood select to fly business when they’re going around the globe as a result of personal jets price a lot cash per hour. Storch, then again, was not shy about spending $250,000 to fly his entourage to the French Riviera for a last-minute trip. Thoughts you, that is $250,000 every route! Maybe essentially the most jaw dropping facet of Scott’s story is that he spent a thoughts boggling $30 million in a six month coke fueled binge. By his personal estimation, Scott was spending $250,000 a month on partying alone, at his peak.
In July 2018, Scott Storch visited Scorching 97 and opened up about what it was prefer to lose $100 million, the way it occurred and the way he’s attempting to tug himself again up. Try the interview under, it is fairly wonderful:
Scott’s unimaginable rise and fall began to unravel in 2007. His onerous partying methods started to have an effect on his music. He stopped working for lengthy intervals of time and would make A-list musicians await hours upon hours at his studio. Storch reportedly made tremendous star Janet Jackson wait 10 hours on the studio whereas he partied away. As this destructive popularity unfold, fewer artists lined as much as purchase Storch’s beats. And because the cash slowed down, his spending didn’t. By 2009, Storch had managed to blow by means of his complete $100 million fortune and was compelled to declare chapter. He was arrested on cocaine costs in Vegas in 2012.
In June 2015, Scott filed for chapter once more. Within the submitting he claimed to solely have $3,600 in belongings which was made up of $100 in money, $500 value of clothes and a $3000 watch. He valued his music firm at $0. Within the submitting Scott stated that he made $10,000 in 2014. Ouch.
So what is the lesson right here? I imply, there are 100. Do not do medicine. Do not waste cash on pointless lavish items. Do not date Paris Hilton. And most essential of all, if you’re doing effectively, put some rattling cash within the financial institution for a wet day!!!
