Musicians who went bankrupt

>"I would always be going from L.A. to Miami to New York, to Russia, St-Tropez," he said, referring to his private jet trips. "Costs about $50,000 for a domestic flight, $250,000 for overseas. Yeah, that's an expensive habit."

>>70426649
Who?

>>70426720
he made a bunch of shitty beats for dumb negros back in the early 00s

>Produced Make It Rain
>Had to file for bankruptcy because make it rain is financially ruinous

>>70426720
How do you not know Scott Storch?

He produced:
>Still D.R.E.
>Let Me Love You
>Candyshop

>tfw today's youth will never remember when Scott Storch was pumping out straight bangers

https://www.youtube.com/watch?v=fls8VU7XClU

Scott Storch fucked Kim Kardashian in her prime.

>>70426649
How on earth to people fuck up being athlete/famous musician level rich? This is all you need to do.

>Buy a nice, high quality mansion in a desirable area which is surrounded by other homes of similar value. DO NOT custom build some stupid mansion (that no one will want to buy from you) and do not buy some overpriced castle of a house in the middle of nowhere.

>No jewelry. Everyone already knows you're rich and famous so why bother? With your status, you can easily get pussy without that shit anyway.

>Two cars, one sports car (which you lease and replace every three years) and one SUV (which you buy and replace every 5-7 years).
>No private jet usage whatsoever until you hit 100m+ net worth. Even then, you should just charter. Don't even think about buying a gulfstream or some shit like that until you have hundreds of millions.

>Get a vasectomy

>You don't need a fucking boat/yacht of any kind

If you follow those five rules and hand off whatever cash you aren't using to a respectable, well established asset manager the odds of you going broke like this are virtually nil.

>>70427447
Storch had a massive cocaine problem.

That's where most of his money went.

Now he has nothing.

>>70427483
Drugs aren't even that expensive, it's the spending you do while on drugs which kills these people. You could easily be a full blown addict for decades and still hang on to virtually all of your money as long as you aren't buying retarded, high value nonsense which is going to depreciate in value.

>>70427447
>not getting a boat/yatch
pleb

>>70427447
Boats a money sink. I work in the high net worth individual tax practice at a CPA firm. One of our clients has a big ass yacht. They use it about 3 weeks out of the year, and rent it out the rest of the year. The rental fees don't even come close to covering all the costs of the yacht.

If you want a yacht just rent it.

>>70427621
They're a huge time/money suck and you can just as easily rent/charter. Also, it's a dick sizing contest which you'll never win. Unlike cars where you can just buy a high end sports car and be done with it, there is basically no upper limit to how much you can spend on a boat. Unless you have Arab prince money, someone will always have a bigger and better boat than you.

Are any rappers into race horses? We've got a couple clients into horse racing and that's a giant money pit.

Owning a horse by itself is expensive enough, but it's really really expensive when you're paying colossal stud fees, paying stable fees, paying race entry fees, jockey fees, and training fees.

>>70427686
>If you want a yacht just rent it.

I do take this back a little bit, when I worked at a smaller firm one of our clients had a yacht (not a huge one, probably 40 feet) that he'd spend months out of the year sailing. While it would have been cheaper to rent, he got a lot of joy out of owning the yacht himself, and spent months out of the year sailing.

File: MC-Hammer-horse.jpg (35KB, 478x363px) Image search: [Google]

35KB, 478x363px

>>70427805
MC Hammer was big into horse racing and owned his own stable or something to that effect. That ended pretty much how you would expect it to go.

https://www.thrillist.com/home/why-mc-hammer-went-broke-how-mc-hammer-spent-all-of-his-money

>>70427805
Rappers getting into horse racing would be the best thing that could happen to the sport.

Horse racing is pretty dead right now. I went to the horse track for a work event last summer and the place was pretty dead, mostly old dudes, degenerates, and horse owners. It wasn't a huge racing weekend or anything, but it's the only horse track in a large metropolitan area.

>>70428238
I think PETA is trying to turn it into the new dogfighting or something, which really isn't helping its image
http://www.peta.org/issues/animals-in-entertainment/horse-racing-2/

at least scott storch managed to make this https://www.youtube.com/watch?v=rWsvkW6rKkQ in the midst of going off the deep end

>>70427805
Just how expensive? I always just assumed racehorses are owned by royalty or the mafia.

>>70428387
An average racehorse probably costs $40,000. Fees for vets, stables, training, jockeys, and race entry start around $40,000.

These horses very rarely make money.

>>70426901
I think Make It Rain is the only song I like of his

File: 0849158c54d2bfc542562370b06e9f7b.jpg (33KB, 564x846px) Image search: [Google]

33KB, 564x846px

Trent Reznor nearly JUSTED himself between 2000- 2002ish. His manager pissed away his money on top of Reznor spending on drugs and whatever. Woke up after a bender and found out he only had 400,000 in the bank when his manager kept telling him he was worth 10 times that.

So he got clean and sober and then proceeded to sue the manager and win back millions in damages. After that he decided only two things in life were important: making music and making gainz.