Scott Storch Still Got Money Issues, Sells Boat On EBay?

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Site Last Updated: 5:54 PM EDT, July 23, 2008	Make BallerStatus Your Homepage

Published: Saturday - March 15, 2008
Words by Paulie Soprano

Scott Storch (Photo: Getty Images)

The rumors of superproducer Scott Storch having financial troubles continue.

Last month, Storch was sued by a record label owner in Los Angeles, claiming the producer borrowed $100,000 in 2003 so his home wouldn't go into foreclosure and never paid him back. He sued, saying Storch now owes him $500,000 -- $100,000 for the unpaid loan and $400,000 for four tracks he was supposed to produce as a part of the loan (valued at $100,000 a piece).

Now, Scotty seems to be still hurting for cash. His yacht, named Tiffany, has recently popped up on Ebay. The 1995 Norship/Davenport, which was purchased in '95 for $11.9 million, it up for auction. In the item's description, it says "owner bought her and got short on money."

We're not sure if this yacht still belongs to Storch, but it used to, we're sure of that. Due to the recent reports of the producer having troubles with his finances, it seems to fit. The boat was previously valued by Rolling Stone at a cool $20 million.

So, my question is, is Scotty that dumb? How can you have the kind of money to buy things like a $1.7 million Buggatti, a Mercedes, a Bentley, a Lambo and a mansion in Miami, and be going broke?

I wrote a column about this in December after the NY Post's Page Six reported that Storch wasn't able to a bar tab after a night of partying at a Miami Club. In fact, they said his credit card was declined.

This dude was reportedly worth $70 million in 2006, and just a year later, in August 2007, Forbes said Scotty was worth just around $17 million.

Now, that's some out of control spending if you ask me. If it continues, he might have to start selling beats for a bargain price to make ends meet...

Better get a grip Scotty, you ain't ballin' no more... at least it looks that way.

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COMMENTS (13)

Yak Says:
Friday - July 18, 2008 at 12:15am

This is the problem with dropping out of school at grade 9. Might have musical talent but no brains. And BTW this old POS yacht is 13 yrs old and was originally 12Mil. Yachts don't go up in value, only down. This crappy floater is worth maybe a quarter of it's original value which would be about 3 mil and even that's pushing it since it needs a complete interior refit by someone with a smidgen of taste.

Tee-Jay Says:
Monday - March 31, 2008 at 8:14pm

lmaooo...why not teach him how..since you say he retarded...so whats in your portfolio? where would you put 3 mill?...enlighten us...since you know about money management

lmaooo Says:
Thursday - March 27, 2008 at 10:43am

3 mil in a cd? r u retarded? clearly u know nothing about money management

Tre Says:
Thursday - March 20, 2008 at 7:34pm

They teach you in school how to get a job, but they tell you nothing about finance and money management. Unfortunately, they leave that to your parents, who may or may not be the best resource. What I can’t understand is why these cat’s don’t put 2 or 3 mil. away in a CD or something to get them by later, if things go sideways.

Tee-Jay Says:
Wednesday - March 19, 2008 at 8:37pm

its easy to get money...but boy oh boy...its hard to keep it!!

Caramelhoneys Says:
Wednesday - March 19, 2008 at 9:09am

Damn..playa..cats get caught up in the fame...the real money are the guys behind these fools...real talk dre of Caramelhoneys!

Dano Styles Says:
Tuesday - March 18, 2008 at 7:42pm

hahahahahahahahahahaha

jackpot620 Says:
Tuesday - March 18, 2008 at 2:58pm

dumbass

Capital G Says:
Tuesday - March 18, 2008 at 2:47pm

(Thinks about it for a minute) Shhhhooo...I wish I had his problems instead of mine....

Jeff Says:
Sunday - March 16, 2008 at 7:26pm

No future in fronting.All those who benefited from his millions needs to give something back.Don't leave him hanging.

JAY Says:
Sunday - March 16, 2008 at 1:43pm

Dude better pick up a Burger King application,downloading has taken the profit out of the record biz,he ain't gonna ever make that kind of money again.

Fuck you mfer Says:
Saturday - March 15, 2008 at 8:13pm

Fuck what yall say, I understand. Some folks got horrible spending issues, lots of people do and this is their lesson. DOnt talk shit cause you proabably got a spending problem too.

Tre-Idol Says:
Saturday - March 15, 2008 at 5:25pm

smh @ this nigga spending $70mill and being broke