Scott Borchetta Net Worth: $200 Million
Scott Borchetta, born in Burbank, California in July 1962, is a well-known American businessman. He is the founder of Big Machine Records, a music label that has been home to many successful artists. One of his most notable discoveries is singer-songwriter Taylor Swift, who won Big Machine a Grammy Award for Album of the Year in 2010.
Before founding Big Machine Records, Borchetta worked in the Nashville, Tennessee division of DreamWorks Records and MCA Records. He also worked at MTM Records which is a division of actress Mary Tyler Moore’s MTM Enterprises. Additionally, he was a race car driver.
Borchetta founded Big Machine in 2005 and signed Taylor Swift as his first artist. Swift stayed with Big Machine until 2018 when she signed a long-term deal with Universal Music’s Republic records. In June 2019, Borchetta sold Big Machine Records to talent manager Scooter Braun for $300 million through his holding company Ithaca Holdings LLC. The deal gave Ithaca Holdings the rights to Taylor Swift’s first six albums as well as records by Sheryl Crow, Lady Antebellum, Thomas Rhett and Florida Georgia Line. At the time of the sale, Big Machine was generating a reported $100 million per year in revenue and profits of roughly $40 million.
Borchetta became an in-house mentor for the Fox television series American Idol for the show’s 14th season in 2015.
Aside from Taylor Swift, Borchetta has also signed artists Jack Ingram and Danielle Peck.
