Here is another wild Sidewalker story.
Imagine if this dude had even just put 30 million in a 5% return investment,
he would have 125K/month to blow, passively.
Guess money don't buy discipline.
----------------------------------------------------------------------------------
Article :
Former millionaire pop producer has only $100 in cash
http://www.aux.tv/2015/06/former-millionaire-pop-producer-has-only-100-in-cash/
Do you have more than $100 cash to your name? Congrats! You’re richer than Scott Storch.
The former production titan has filed for bankruptcy after mowing (and snorting) through a $70 million fortune with a good chunk of that dough spent on drugs, cars and other costly interests. If you don’t know Storch’s name, you probably know some of the mega-famous acts he worked with back in the 2000s like Beyoncé, Chris Brown and Christina Aguilera. Heck, Storch and Xtina even had a public falling out that included the venom laced diss “F.U.S.S.” (a.k.a. “F*ck You Scott Storch”) popping up on Christina Aguilera’s 2006 album Back to Basics.
Tales of Storch’s money woes are nothing new. In 2009, the producer’s manager Derek Jackson told MTV News that his client somehow managed to burn through $30 million in just six months.
“The cost of the drug didn’t effect my life,” noted Storch. “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 2015, Storch has $3,600 in assets to his name. There’s the $100 we mentioned, plus a $3000 watch and $500 in clothes.
If only you could a price on his value as a cautionary tale.
Imagine if this dude had even just put 30 million in a 5% return investment,
he would have 125K/month to blow, passively.
Guess money don't buy discipline.
----------------------------------------------------------------------------------
Article :
Former millionaire pop producer has only $100 in cash
http://www.aux.tv/2015/06/former-millionaire-pop-producer-has-only-100-in-cash/
Do you have more than $100 cash to your name? Congrats! You’re richer than Scott Storch.
The former production titan has filed for bankruptcy after mowing (and snorting) through a $70 million fortune with a good chunk of that dough spent on drugs, cars and other costly interests. If you don’t know Storch’s name, you probably know some of the mega-famous acts he worked with back in the 2000s like Beyoncé, Chris Brown and Christina Aguilera. Heck, Storch and Xtina even had a public falling out that included the venom laced diss “F.U.S.S.” (a.k.a. “F*ck You Scott Storch”) popping up on Christina Aguilera’s 2006 album Back to Basics.
Tales of Storch’s money woes are nothing new. In 2009, the producer’s manager Derek Jackson told MTV News that his client somehow managed to burn through $30 million in just six months.
“The cost of the drug didn’t effect my life,” noted Storch. “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 2015, Storch has $3,600 in assets to his name. There’s the $100 we mentioned, plus a $3000 watch and $500 in clothes.
If only you could a price on his value as a cautionary tale.
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