Getbigger Scott Storch is broke has a $100 bucks in cash left

[theTRASHMAN]

Nope, no money is stashed and 70 million is a lot but when you buy a 20 million dollar yacht, a private jet, and a 15 million dollar home, the maintenance and upkeep fees for those items are outrageous.  For example, it prob cost around 150k just to fuel up the yacht.  Then buying stupid things like a 3 million dollar necklace for Paris Hilton and other things just did him in fast.

He was a multimillionaire spending like a billionaire....and we know how that story ends

lol.....do we now sweet tits???

[2Thick]

what is muni?

Municipal bond.

[2Thick]

I always used to think the same.  Now, leading an 'adult life', I can understand this behavior...

His behavior is not "adult behavior". He's like a five year old kid.

I live an "adult life". I've been saving and investing religiously for over two decades and live a comfortable but very disciplined lifestyle. I have one high end car, for instance that I paid well under 6 figures for. If I'm gonna brag, it's about how little I paid for something.

Responsible adults don't blow everything they make and more. Responsible adults who wish to become truly wealthy (and stay that way) who weren't born into it must learn to save, invest, and live reasonably frugally. If you in any way admire this moron, I'd suggest you read some good books on personal finance and investing, and hopefully stay away from hard drugs.

I manage money for wealthy people, and help them avoid doing what this moron did. Of course most of them are older and have more sense.

[2Thick]

Nope, no money is stashed and 70 million is a lot but when you buy a 20 million dollar yacht, a private jet, and a 15 million dollar home, the maintenance and upkeep fees for those items are outrageous.  For example, it prob cost around 150k just to fuel up the yacht.  Then buying stupid things like a 3 million dollar necklace for Paris Hilton and other things just did him in fast.

He was a multimillionaire spending like a billionaire....and we know how that story ends

Billionaires don't spend money anything like that moron did. At least not if they actually earned it and hope to stay billionaires. I can guarantee you that Buffett, Icahn, Gates, Harold Hamm, et al don't spend 5 million a month on personal shit and don't have 20-30 high end cars.

[Dr.J]

Yup.  He probably has Mayweather amounts of cash sitting in a private vault somewhere.

Yup!

[cephissus]

His behavior is not "adult behavior".

I wasn't implying as much.  I'm saying, adulthood can bring on meltdowns.  Ordinary people don't have millions to blow in spectacular fashion, but they melt nonetheless.  If more people had this kind of money, you would see this sort of story often, I think.

[2Thick]

You see this more in the last several decades because now people who aren't necessarily very smart are becoming millionaires pretty much overnight.

It used to be that only smart businessmen became very wealthy, and it was usually a slow process. And they generally taught their offspring how to handle such wealth. Of course there have always been "idiot sons".

Nowadays, you have kids just out of high school signing multi-million dollar contracts to play ball, plus endorsements, etc. As we all know it often doesn't end well. That goes for various professions in the "entertainment" industries as well.

http://www.wyattresearch.com/article/five-reasons-professional-athletes-go-broke/

[Carlton G. Long]

He was a multimillionaire spending like a billionaire....and we know how that story ends

Like the time you ate at Burger King and Golden Corral in the same week and almost lost your trailer.