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Scott Storch Sells $20 Mil Yacht On Ebay For $600 K

Mega-producer Scott Storch recently put his yacht on the market via ebay, fueling rumors that his estate is in financial distress.

According to TMZ, Storch allegedly paid $20 million on the boat and is now hocking it on ebay for $600,000. On the ebay posting it says the reason for the rock bottom asking price is because the “owner bought her and got short on money.”

Though the producer rakes in millions every year and has made beats for the likes of Lil’ Wayne, Fat Joe, 50 Cent, Beyonce and other hit-making artists, this isn’t the first time his finances have come into question.

Back in January of ‘06, Storch’s baby’s mom, Dalene Daniel, took him to court, claiming he was two months behind on $7,500 a month child support payments. She also said the producer was “habitually late” in paying child support, and has bounced checks.

Around the same time, The New York Post printed a story saying Storch owed $435,602 in back taxes on his house in Miami and that he also never paid for a $7,500 painting he had on display in his home, prompting the Miami gallery owner to reclaim the art.

At that time, Forbes placed Storch’s income at $17 million for the year, or $1.4 million a month.

www.hiphop-elements.com

Posted In: Boating Industry on March 21, 2008 Comments (912)

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