What is Scott Storch's net worth?
Scott Storch is an American hip-hop music producer who has a net worth of $250,000. Scott Storch rose to prominence as a hip-hop and pop music producer after starting his career as a keyboardist for The Roots in the early 1990s. His signature piano-driven melodies and crisp production style led to massive success in the early-to-mid 2000s, working with artists like Dr. Dre, 50 Cent, Beyoncé, Justin Timberlake, and Christina Aguilera.
Some of his most notable productions include "Still D.R.E." by Dr. Dre, "Lean Back" by Terror Squad, "Baby Boy" by Beyoncé, and "Fighter" by Christina Aguilera. At his peak, Storch was earning millions per track and living an extravagant lifestyle in Miami. However, his career took a dramatic downturn due to cocaine addiction and excessive spending, reportedly burning through a $70-100 million fortune. He declared bankruptcy in 2015. He reportedly burned through $30 million in six months alone. Even in recent years, he has struggled with financial issues, child support legal battles, repossessions, and bankruptcy filings.
In recent years, Storch has made a comeback, getting sober and returning to music production. He's worked with newer artists like Post Malone and 6ix9ine, while also sharing his cautionary tale about the dangers of drug addiction and financial mismanagement in the music industry.
Financial Problems
In 2006, Scott Storch reached a stratospheric level of success with a net worth of $70-100 million. However, his unrelenting addiction to cocaine would prove to be a deciding factor in his eventual downfall. During the next period, Storch completely stopped working and focused on partying as a full-time job. He purchased a $10 million mansion on Palm Island as a permanent venue for this new lifestyle. While high on cocaine, Storch squandered millions on sports cars, yachts, and private jets. After six months had passed, Storch had spent a whopping $30 million.
By 2008, Storch was unable to keep up with child support payments and property taxes. He also fell behind on payments for car leases, leading to his eventual arrest for Grand Theft Auto. Eventually, he did the right thing and checked into a rehab center. Storch's $10.5 million Palm Island mansion was repossessed by a bank and sold to Rockstar energy drink founder Russell Weiner for $6.75 million in 2010. In October 2012, Weiner flipped the house to rapper Birdman for $14.5 million.
In June 2015, Scott filed for bankruptcy. In the filing, he claimed to only have $3,600 in assets which was made up of $100 in cash, $500 worth of clothing, and a $3,000 watch. He valued his music company and assets at $0. In the filing, Scott said that he made just $10,000 in 2014. All of this explains why Storch's net worth is so low despite the fact that he is one of the most successful music producers in the history of hip-hop.
Early Life
Scott Spencer Storch was born on December 16th, 1973, in Long Island, New York. During his youth, Scott Storch's family moved from place to place, settling in Miami and Philadelphia for extended periods. His mother was a singer, and his uncle was also involved in the music world. These family members introduced Scott Storch to music at a young age.
Although Storch initially attended high school in Florida, he left during his freshman year to attend high school and live with his father in Pennsylvania. He then dropped out of high school in grade nine, prompting his father to kick him out of his home. By 18, Storch was once again living with his father in New Jersey.
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Career
Scott Storch started his career in 1991 when he became the keyboardist for the newly created band Roots. Over the next few years, Storch became a well-known musician as he contributed to Roots albums such as Organix and Do You Want More?!!!?! Although he was passionate about music, he quickly grew tired of the band's relentless touring schedule. Due to the fact that he naturally felt at home in the studio, a career in music production was the obvious next step for Scott Storch.
Scott Storch quickly became one of the most successful producers in the music world after working with some of the top names in the industry. He initially produced hits by the Roots, such as "You Got Me." He then produced Dr. D.R.E's smash hit "Still D.R.E." The hit featured Scott Storch on the piano, providing the catchy soul of the iconic rap single.
"Still D.R.E" opened the door for Storch to collaborate with the hottest names in the hip-hop game, including 50 Cent, Chris Brown, Snoop Dogg, and many others. Financially, his biggest hit was with Fat Joe's Terror Squad when he produced the song "Lean Back." During this time, Storch also proved his worth as a songwriter, winning the 2006 ASCAP Songwriter of the Year Award.
Scott Storch also found the time to create his own record label, Storch Music Company, and a music production company called Tuff Jew Productions LLC. Although Scott Scorch's career faltered after his following period of heavy drug use and financial issues, he has since become involved in music production once again.
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Real Estate
In May 2006, Scott paid $10.5 million for a 20,000-square-foot palace on Miami's Star Island. As we mentioned previously, he soon ran into financial problems and lost this house to foreclosure. In February 2010, his bank sold the home to Rockstar Energy drink billionaire Russell Weiner. Weiner sold the house to rapper Birdman in 2012 for $14.5 million. Birdman tried to sell the home over and over, even with a dozen price drops. He finally accepted $10.85 million in July 2020. In August 2021, it was listed for $34 million, though it ultimately did not sell. Here's a video tour:
Scott appears to have rented a home in Calabasas for a number of years. Followed by a home in Beverly Hills. In 2017, he was living in a rented home in Parkland, Florida.
Personal Life
Scott welcomed a son with a girlfriend in 2006. In 2012, he was nearly arrested for failing to pay $28,000 worth of child support. He ultimately avoided arrest.
