The music industry is tough because as fast as you start to pop and begin to bring in some serious income is as fast as it goes and you end up broke. Popular music producer Scott Storch has filed bankruptcy, claiming he only has a shocking $100 in cash, $500 in clothing and a $3,000 watch to his name as his total assets.
The craziest thing is that with all of the hits he’s produced, his music companies have been valued at $0.00. According to the paperwork, Storch only made $10,000 for last year. As for how he blew his fortune, he got bad with drugs and apparently spent $30 million dollars in a six-month time span on coke and other illicit substances, along with fancy cars, luxurious mansions and so on. Such a shame, smh!
Moral of the story: BE CAREFUL WITH YOUR $$, PEOPLE!
Source: TMZ
