The 2007 version of Scott Storch was a force to be reckoned with. Not only was his catalog of production credits diversifying between Hip Hop, R&B, and Pop, but he also continually cranked out radio hits and Billboard chart-toppers. At the height of his career, he was valued at $70 million and was featured in Forbes magazine, a feat seldom seen in the slumping music industry today.
In 2008, he isn’t looking so great.
The 34-year old Miami resident is seeing the effects of poor financial decision making which has subsequently put him into debt. Rumors of his financial woes began earlier this year, as TMZ reported Storch had listed his $20 million dollar yacht on eBay for the shockingly low cost of $600,000. Since then, it’s been reported that Storch has also evaded real estate taxes that amount to $500,000. Then there’s the case of his missed child-support payments.
After his 2004 rise in success, Storch reconciled with his former girlfriend Vanessa Bellido, who 12 years earlier birthed his son Steven. Wanting to do the right thing, he brought them to Southern Florida, which Bellido described as “one of the happiest times in our lives.” Three years after that, he began paying child-support for his second son of a different mother in Jalen Daniel.
While this shift in Storch’s life was occurring for the better, his entertainment ventures took a turn for the worse. Including a failed signing in reality TV star Brooke Hogan, a feud with former collaborator Timbaland, and a struggle to keep his producing top-notch, it is assumed Storch couldn’t handle the limelight, which simultaneously put a strain on his relationships with both mothers and children. At the start of this year, he has been MIA in delivering payments for both children, putting him another $46,000 in the hole.
Infamous, co-producer of Lil Wayne’s record “Mr. Carter” [click to listen] and budding beat-maker himself, sees Storch’s situation as one that abruptly catches music artists off-guard because of its financial insecurity. “There’s no 401k plan in the music industry. You can’t be stupid and just throw your money away.”
Even in the wake of a falling star like Storch though, Infamous feels Scott Storch has a chance to light up the music scene in the near future. “Scott is definitely talented enough to say all right, it’s time for a new Scott. His track record alone speaks volumes.”
The phrase “money can’t buy happiness” never sounded any truer.